News

Sanctions Notice - North Korea

16th April 2024
Please be advised that amendments have been made to the details of the following entity - NATIONAL AEROSPACE TECHNOLOGY ADMINISTRATION (Group ID: 13343) which is designated under the Democratic People’s Republic of Korea (Sanctions) (EU Exit) Regulations 2019 (the UK regulations). This follows an update to the UK Sanctions List , enacting the UN's decision made on 15 April 2024 to amend this entry...

L & A Finance Limited

11th April 2024
L & A Finance L imited is Guernsey registered company. However, it has been noted that criminals have been using the company’s details in an attempt to commit fraud. The fraud scheme has included the setting up of a false website in the name of the firm. Anyone seeking to conduct business with L & A Finance L imited is encouraged to take steps to carefully ensure that they are dealing with the...

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...

Thematic Review of Governance, Risk and Compliance Controls to Counter Financial Crime – Estate Agency, Legal and Accountancy Services

4th April 2024
The Commission has today issued its report on the Thematic Review of Governance, Risk and Compliance Controls to Counter Financial Crime – Estate Agency, Legal and Accountancy Services. Towards the end of 2023 the Commission’s Financial Crime Division undertook a thematic review of the financial crime controls implemented within businesses registered with the Commission as prescribed businesses...

Feedback Paper following consultation on the Disclosure Rules for Insurance Intermediaries

3rd April 2024
The Commission has today issued a feedback paper following the consultation on disclosure rules for insurance intermediaries issued in 2023. The Commission is grateful for the responses received. The feedback paper, along with the Insurance Intermediaries (Amendment) Rules, 2024, can be found on the Commission’s Consultation Hub . The amendments to the rules will come into effect on 1 st January...

Consultation Paper on Unclaimed Money under the Protection of Investors (Bailiwick of Guernsey) Law, 2020

28th March 2024
The Guernsey Financial Services Commission has today issued a Consultation Paper seeking views from interested parties on the creation of a new policy regarding Unclaimed Money under the Protection of Investors (Bailiwick of Guernsey) Law, 2020. This Consultation Paper follows on from the Thematic Review regarding Unclaimed Money The Thematic Review identified that Unclaimed Money is not dealt...

Sanctions Notice - Terrorism Financing

28th March 2024
Please be advised that 2 individuals have been designated under the Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019; these are implemented in the Bailiwick by the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 The following individuals have been designated: Mustafa Ayash Aozma Sultana These individuals are on the consolidated list, which can be...

Industry Briefing on the National Risk Assessment on Legal Persons and Legal Arrangements

28th March 2024
On Tuesday 9 April from 10am to 1pm at Beau Sejour, representatives from the States of Guernsey and the Guernsey Financial Services Commission will present on the Bailiwick’s assessment of the risk of Guernsey administered legal persons and legal arrangements being abused for financial crime. The National Risk Assessment on Legal Persons and Legal Arrangements will form part of the Bailiwick of...

Sanctions Notice - Cyber

25th March 2024
Please be advised that Gaobin NI (Group ID: 16462) Guangzong ZHAO (Group ID: 16461) WUHAN XIAORUIZHI SCIENCE AND TECHNOLOGY COMPANY LIMITED (Group ID: 16460) have been designated under the Cyber (Sanctions) (EU Exit) Regulations 2020 (the UK regulations) and is now subject to an asset freeze. The persons referred to above appear on the consolidated list, which can be found here . The UK...