Financial Crime

The Commission is today issuing Instruction (Number 02/2014) for Financial Services Businesses and Prescribed Businesses, copies of which can be accessed on the FC&A Section of the Commission's website. The log of Business from Sensitive Sources & Notices document has been updated to enable identification of the changes applied. Instruction (Number 02/2014) for Financial Services Businesses...

​The Commission wishes to draw licensees’ attention to the current military action in Iraq and the associated funding of the extremist insurgency group, Islamic State in Iraq and the Levant (“ISIS”). Reports indicate that in addition to private donations and traditional criminal activity in that region such as robbery and extortion, ISIS has been funding itself through oil trading and the...

​Please be advised that Council Regulation (EC) 881/2002 imposing financial sanctions against certain persons and entities associated with the Al-Qaida network and implemented in the Bailiwick by the Al-Qaida (Restrictive Measures) (Guernsey) Ordinance, 2013, Al-Qaida (Restrictive Measures) (Alderney ) Ordinance, 2013 and the Al-Qaida (Restrictive Measures) (Sark) Ordinance, 2013, has been amended...

Please be advised that Council Regulation (EC) 881/2002 imposing financial sanctions against certain persons and entities associated with the Al-Qaida network and implemented in the Bailiwick by the Al-Qaida (Restrictive Measures) (Guernsey) Ordinance, 2013, Al-Qaida (Restrictive Measures) (Alderney ) Ordinance, 2013 and the Al-Qaida (Restrictive Measures) (Sark) Ordinance, 2013, has been amended...

The Financial Crime Supervision & Policy Division has prepared a Guidance Note (“Note”) following analysis of both the results of onsite visits undertaken by the Commission since 2012 and trends identified from financial crime assessments undertaken at local and international level. This Note is intended to further assist businesses in understanding the Commission’s expectations in relation to...

​The Commission is today issuing Instruction Number M 01/2014 for Financial Services Businesses and Instruction Number M 01/2014 for Prescribed Businesses, copies of which can be accessed from the FC&A section of the Commission's website: Instruction M 01/2014 for Financial Services Businesses and Instruction M 01/2014 for Prescribed Businesses 3 June 2014

Instruction – Fiduciary Licensees - Anti-Money Laundering - Compliance Arrangements As licensees are aware, global standards and expectations in relation to the detection, forestalling and preventing of money laundering and terrorist financing (“ML/TF risks”) have evolved over the years to reflect the ways in which these risks can occur and the measures required to mitigate them. It is important...

Please click here to view letter from the Financial Crime & Authorisation Division to Chief Executive Officers of Financial Services Businesses.

​ The Commission and the Financial Intelligence Service will be holding a co-sponsored seminar entitled “Suspicious Activity Reporting (SAR): Trends, Tips, Analysis and Engagement” on Thursday 8 May 2014. The purpose of the seminar is to provide industry, particularly Money Laundering Reporting Officers, with information in relation to SARs. The following areas will be addressed as part of this...