Financial Crime

The Commission is today issuing Instruction Number 03/2017 for Financial Services Businesses and Prescribed Businesses replacing Instruction No. 02/2017 issued on 10 April 2017. Afghanistan and Lao PDR have been removed from the list of countries and jurisdictions subject to the Instructions. Further detail about the removal of Afghanistan and Lao PDR can be found within the Instructions. The...

The Commission is today issuing Instruction Number 02/2017 for Financial Services Businesses and Prescribed Businesses replacing Instruction No. 01/2016 issued on 25 January 2017. Ethiopia has now been added to Part B of the Instructions, which lists countries and territories with Improving Global AML/CFT Compliance, following concerns about the lack of effective implementation of an adequate AML...

The Commission is today issuing Instruction Number 01/2017 for Financial Services Businesses and Prescribed Businesses replacing Instruction No. 02/2016 issued on 1 August 2016. Haiti has been included within the Instruction following concerns identified by the Caribbean Financial Action Task Force as a result of an evaluation during April 2015. Firms must ensure that enhanced customer due...

The Commission wishes to draw licensees' attention to the current military action in Iraq and Syria and the associated funding of the extremist insurgency group, Islamic State in Iraq and the Levant ("ISIL"). Reports suggest that ISIL is acquiring military hardware leftover from the Libyan conflict which is being transported to Iraq and Syria through neighbouring jurisdictions such as Jordan, or...

The Commission wishes to remind all financial services and prescribed businesses, together with personal fiduciary licence holders, that the Financial Crime Risk Return is due for submission by 31 October 2016. The Return can be found through the Commission’s Online Submissions Portal, located here: https://submit.gfsc.gg/ Further information on the background to the Return, as well as guidance on...

​ISIL (DA’ESH) AND AL-QAIDA NETWORK This Notice is issued further to a previous Sanctions Notice issued in relation to the updating of information about an individual on the list of persons associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267 (the listed person). Please be advised that a corresponding change has now been made to the list...

Iraq United Nations Security Council Resolution 1518, as implemented in the Bailiwick by the Iraq (United Nations Sanctions) Channel Islands Order 2000, has been amended. The effect of the amendment, which is automatically effective in the Bailiwick, is to remove one entity from the list of persons subject to financial restrictions under Resolution 1518. Further details about the amendment are...

Please be advised that the United Nations Security Council has amended the details in respect of fourteen individuals (“the listed persons”) on the list of persons maintained under United Nations Security Council Resolution 1988. All persons on the list are subject to restrictive measures which include targeted financial sanctions. Further details are available here: https://www.un.org/press/en...

CENTRAL AFRICAN REPUBLIC Council Regulation (EU) 224/2014, as implemented in the Bailiwick by the Central African Republic (Restrictive Measures) (Guernsey) Ordinance, 2014, the Central African Republic (Restrictive Measures) (Alderney) Ordinance, 2014 and the Central African Republic (Restrictive Measures) (Sark) Ordinance, 2014, has been amended by Council Implementing Regulation (EU) No 2016...