Articles from 2024

The administrators of GBG Insurance Limited have announced that they have reached an agreement which has secured a buyer for parts of Global Benefits Group’s international education insurance businesses and its administration platform. The acquisition of these assets will allow for continuity of service and benefits for a number of GBG Insurance Limited’s customers. Policyholders are encouraged to...

The Commission welcomes this judgment from the Guernsey Court of Appeal which affirms the Commission’s processes were applied properly in this matter ( § 71, § 190) and our important role in combatting financial crime in the jurisdiction ( § 67). In determining that the decision of the Royal Court could not stand ( § 193), we were obviously pleased that the Court of Appeal found in our favour in...

The Commission is raising awareness of the use of non-bank payment service providers, such as electronic money institutions or EMIs, to ensure consumers know how to check adequate consumer protection is available. While online payments are generally made through bank accounts, the use of electronic money (e-money) stored in an online account, wallet, or pre-paid account, which may then be used for...

Please be advised that amendments have been made to the details of the following individuals who are designated under the ISIL (Da'esh) and Al-Qaida (Sanctions) (EU Exit) Regulations 2019 (the UK regulations) – Said ARIF (Group ID: 13089) Mohamad Rafi BIN UDIN (Group ID: 13709) . The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick...

Please be advised that the following person has been designated under the Bosnia and Herzegovina (Sanctions) (EU Exit) Regulations 2020 (the UK regulations); Mania D.O.O. (Group ID: 16338). The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 that have been made under the Sanctions (Bailiwick...

Please be advised that an amendment has been made in respect of Petr Aleksandrovich ORLOV (Group ID: 16287) who is currently designated under the Republic of Belarus (Sanctions) (EU Exit) Regulations 2019 (the UK regulations), and who remains subject to an asset freeze. The amended entry in respect of the person referred to above appears on the consolidated list, which can be found here . The UK...

Please be advised that details in respect of • Svyatoslav Evgenievich OSTROVSKY (Group ID: 14811) who is currently subject to an asset freeze and trusts services sanctions have been amended. The individual referred to above appears on the UK’s consolidated list, which can be found here . The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes)...

Please be advised that amendments have been made to the details of the twelve individuals and two entities who are designated under the ISIL (Da'esh) and Al-Qaida (Sanctions) (EU Exit) Regulations 2019 (the UK regulations). Information about the amendments is available here – Notice_ISIL__Da_esh__and_Al-Qaida_110124.pdf (publishing.service.gov.uk) . The UK regulations are given effect within the...

Today a consultation paper has been issued on the proposed amendments to the rules and guidance on the Handbook on Countering Financial Crime to support the extension of the existing obligations upon specified businesses to countering proliferation financing. These amendments also incorporate the proposed amendments to Schedule 3 of the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey)...