Financial Crime

A Thematic Report on Financial Crime Training is now available: Thematic Report

​Guernsey’s financial services regulator has published a consultation paper following a decision made by the States of Guernsey in January of this year to increase the discretionary financial penalties which the Commission is able to apply in cases where there have been serious regulatory shortcomings (Billet d’Etat V of 2016 https://www.gov.gg/CHttpHandler.ashx?id=99971&p=0). The legislation...

ISIL (DA’ESH) AND AL-QAIDA NETWORK This Notice is issued further to the addition of five natural persons to the list of persons associated with ISIL (Da’esh) and Al-Qaida maintained under United Nations Security Council Resolution 1267. Please be advised that corresponding changes have now been made to the list maintained by the European Union under Council Regulation (EC) No 881/2002 by...

Guernsey’s financial services regulator has published a guidance note on its general approach to the enforcement process which it administers. This brings together the extensive public guidance which is already available on the Commission’s website. The paper has been published in response to a decision made by the States of Guernsey in January of this year requiring the Commission to publish such...

Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below. These developments concern sanctions relating to Central African Republic, North Korea and Iran. Central African Republic Council Regulation (EU) 224/2014, as implemented by the Central African Republic (Restrictive Measures) (Guernsey) Ordinance, 2014, the...

Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below. These developments concern sanctions relating to Libya and ISIL (Da’esh) and the Al-Qaida Network. LIBYA Council Regulation (EU) No 2016/44, as implemented by the Libya (Restrictive Measures) (Guernsey) Ordinance, 2016, has been amended by Council Implementing...

Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below. These developments concern sanctions relating to the Russian Federation, together with ISIL (Da’esh) and the Al-Qaida Network. RUSSIAN FEDERATION EU officials have issued a warning to EU banks about the first issuance of sovereign bonds by the Russian Federation...

​Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below. These developments concern sanctions relating to ISIL (Da’esh) and Al-Qaida Network, Ukraine and Central African Republic. ISIL (DA’ESH) AND AL-QAIDA NETWORK Amendments have been made to the Al-Qaida sanctions regime under Council Regulation (EC) No 881/2002 by...

The Commission is today issuing Instruction Number 01/2016 for Financial Services Businesses and Prescribed Businesses replacing Instruction No. 04/2015 issued on 19 November 2015.Myanmar has now been added to Part B of the Instruction which lists countries and territories with improving Global AML/CFT Compliance. This means that financial services businesses and prescribed businesses may apply a...