News

At its annual general meeting in September 2000 the Offshore Group of Banking Supervisors approved an in-depth evaluation which endorses the Bailiwick's anti-money laundering systems. The evaluation reviewed Guernsey's compliance with the 40 Recommendations issued by the Financial Action Task Force on Money Laundering ("FATF") and was carried out in 1999 by independent experts from France, Malta...

The Offshore Group of Banking Supervisors Mutual Evaluation Report of the Anti-Money Laundering System in Guernsey

​Further International Backing for Guernsey - Financial Stability Forum

​International Backing for Guernsey – FATF

At its annual general meeting this month the Offshore Group of Banking Supervisors approved an in-depth evaluation which endorses the Bailiwick's anti-money laundering systems. The evaluation reviewed Guernsey's compliance with the 40 Recommendations issued by the Financial Action Task Force on Money Laundering and was carried out in 1999 by independent experts from France (law enforcement expert)...

Guernsey has won the backing of the international Financial Action Task Force (FATF) for its impressive regulatory and criminal law framework and how the Bailiwick cooperates in practice against money laundering. The FATF was set up after the 1989 meeting of the Group of Seven Finance Ministers to look at the regulatory standards and practices employed in finance centres as part of the global...

ONE YEAR on from the publication of Andrew Edwards' Review enhancements are being made to the regulation of the finance industry. Some of the Guernsey authorities' proposals have resulted from suggestions in Mr Edwards' report, while others were already under way prior to the review.Mr Edwards was commissioned by the UK Home Secretary to review with the Island authorities of Guernsey, Jersey and...

​Progress made on Edwards Suggestions

1. Executive SummaryThe Edwards Report, which was published in November 1998, was welcomed by the Guernsey Authorities as independent confirmation of the Island's high standard of financial services regulation and its commitment to combat crime of all types. It endorsed the strength of Guernsey in the areas reviewed and described the Bailiwick as being in the "top division of offshore finance...

​Report of the Advisory and Finance Committee on the Status of the Review of Regulation in the Crown Dependencies (the Edwards Review)