News

Updates to the AML/CFT/CPF Handbook

25th April 2024
The Commission has today issued an updated Handbook on Countering Financial Crime (AML/CFT/CPF) (the “Handbook”). Chapter 1 of the Handbook has been updated to include guidance to licensed firms relating to offences detailed with section 48MA of the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999 and section 74A of the Terrorism and Crime (Bailiwick of Guernsey) Law, 2002...

Sanctions Notice - Iran

25th April 2024
Please be advised that the following 6 individuals/entities have been designated under the Iran (Sanctions) Regulations 2023 (the UK regulations) : Abbas Abdi Asjerd (Group ID: 16483) Seyed Mohsen Vahabzadeh Moghadam (Group ID: 16480) Alvand Motorbuilding Industries Company (Group ID: 16482) Bonyan Danesh Shargh Private Company (Group ID: 16481) Moj Gostar Aseman Parvaz Company (Group ID: 16479)...

Commission signs MoU with the European Central Bank

19th April 2024
The Guernsey Financial Service Commission has signed a Memorandum of Understanding (MoU) with the European Central Bank (ECB), the authority responsible for monetary policy and the supervision of significant banking institutions across the Eurozone. The MoU provides a framework for cooperation and information sharing between the two authorities. Speaking about the MoU, the Commission’s Director...

Sanctions guidance and standard forms

18th April 2024
The Policy & Resources Committee has enhanced the sanctions-related information on the States of Guernsey website with the addition of guidance on challenging designations and obtaining assistance with the unfreezing of funds. Standard forms are also now available on the website in relation to the making of reports, challenging designations and making designation proposals. Businesses should take...

Sanctions Notice - Iran

18th April 2024
Please be advised that the following 13 individuals/entities have been designated under the Iran (Sanctions) Regulations 2023 (the UK regulations) : Mohammad Reza Ashtiani (Unique ID: IRN0195) General Staff Of The Armed Forces Of The Islamic Republic Of Iran (Unique ID: IRN0196) Islamic Revolutionary Guard Corps Navy (IRGCN) (Unique ID: IRN0197) Gholamali Rashid (Unique ID: IRN0198) Khatam-al...

Sanctions Notice - Guidance and Standard Forms

17th April 2024
Please be advised that the Policy & Resources Committee has enhanced the sanctions-related information on the States of Guernsey website with the addition of guidance on challenging designations and obtaining assistance with the unfreezing of funds. Standard forms are also now available on the website in relation to the making of reports, challenging designations and making designation proposals...

Sanctions Notice - North Korea

16th April 2024
Please be advised that amendments have been made to the details of the following entity - NATIONAL AEROSPACE TECHNOLOGY ADMINISTRATION (Group ID: 13343) which is designated under the Democratic People’s Republic of Korea (Sanctions) (EU Exit) Regulations 2019 (the UK regulations). This follows an update to the UK Sanctions List , enacting the UN's decision made on 15 April 2024 to amend this entry...

L & A Finance Limited

11th April 2024
L & A Finance L imited is Guernsey registered company. However, it has been noted that criminals have been using the company’s details in an attempt to commit fraud. The fraud scheme has included the setting up of a false website in the name of the firm. Anyone seeking to conduct business with L & A Finance L imited is encouraged to take steps to carefully ensure that they are dealing with the...

National Risk Assessment for Legal Persons and Legal Arrangements Report published as part of the Bailiwick’s commitment to combatting financial crime

11th April 2024
The States of Guernsey has published a report concerning the Bailiwick of Guernsey's money laundering, terrorist financing and financing of proliferation of weapons of mass destruction risks from legal persons and legal arrangements . The report follows, and supplements, the Bailiwick of Guernsey’s second National Risk Assessment , also known as NRA2, which was published in December 2023. When...