National Risk Assessment for Legal Persons and Legal Arrangements Report published as part of the Bailiwick’s commitment to combatting financial crime

11th April 2024

The States of Guernsey has published a report concerning the Bailiwick of Guernsey's money laundering, terrorist financing and financing of proliferation of weapons of mass destruction risks from legal persons and legal arrangements. The report follows, and supplements, the Bailiwick of Guernsey’s second National Risk Assessment, also known as NRA2, which was published in December 2023.

When NRA2 was published at the end of 2023, it was decided to publish a separate risk assessment of legal persons and legal arrangements in 2024, in order to facilitate maximum benefit to all stakeholders and ease of use.

More than 400 people came together at an event at Beau Sejour on Tuesday 9 April 2024 to hear about the findings of this report. This great turnout reflects the importance of assessing risk in this area, which is underlined by its inclusion as the first strategic pillar in the Bailiwick’s 2023 National Strategy for Combatting Money Laundering, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction.

Firms are strongly encouraged to read and familiarise themselves with this report, and, where appropriate, should also consider the conclusions of this supplementary report when they next review their Business Risk Assessments.