Consultation on proposed amendments to the Handbook on Countering Financial Crime to cover counter proliferation financing

12th January 2024

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) Law 1999, as amended, currently being consulted on by the States of Guernsey Policy & Resources Committee.

The consultation paper also seeks comments on proposed amendments following the recent publication of the second national risk assessment on the money laundering, terrorist financing and proliferation financing risks to the Bailiwick, changes to the rules on pooled bank accounts for local businesses and changes to chapter 12 of the Handbook on UN, UK and Bailiwick sanctions, as well as other minor changes.

The consultation paper and associated draft legislation and Handbook changes can be found on the Commission’s Consultation Hub.

Responses are sought by Friday 2 February 2024.