Launch of leaflet “FIGHTING CRIME & TERRORISM: YOU CAN HELP”

​Joint Launch of Leaflet - Fighting Crime and Terrorism: You Can Help

"This new leaflet replaces an old version called "Knowing Us - Knowing You" and gives customers a detailed explanation as to when and why banks have to verify individual customers' identity and the type of documents that they will expect the customer to provide. Confirming customers' identity is a major part of ensuring that banks and the banking systems are not used to harbour the illegal gains of criminals and of combating terrorism. We hope that this will clarify our position in the customers' eyes and minimise any potential misunderstanding."

"It is vital that everyone who has a part to play in meeting global standards does so without unnecessary bureaucracy. The leaflet explains the pragmatic steps banks will take to help customers. The leaflet shows that global standards to combat crime and terrorist activities can be satisfied in a manner which marries effectiveness with common sense."

"We hope that this new leaflet will be welcomed by customers. It demonstrates the Island's longstanding commitment to meeting anti-money laundering standards, while recognising the need for sensitivity towards customers. It is an excellent example of the importance of industry, regulators, government and law enforcers working together."

"Local law enforcement fully support this initiative, which seeks to make the public more aware of why they are increasingly being required to provide information and documents about themselves to financial service providers. Similar requirements exist in many other jurisdictions, including the UK, Jersey and Isle of Man. The strengthening of the 'know your customer' procedures has been brought about through a sustained and conscious international effort by Governments, law enforcement, regulators and financial service providers alike in order to make it more difficult for criminals to launder the proceeds of their illegal activities and to fight the terrorist threat."