Regulatory Alerts2019-11-29
Guernsey Financial Services Commission Handbook on Countering Financial Crime and Terrorist Financing
The Guernsey Financial Services Commission issued this Handbook to establish mandatory standards for anti-money laundering and countering the financing of terrorism across all specified businesses in the Bailiwick. It requires firms to implement a risk-based approach encompassing corporate governance, customer due diligence, beneficial ownership transparency, and ongoing transaction monitoring. The document outlines legal obligations under Schedule 3 of the Criminal Justice Law, detailing enforcement powers, reporting duties, and record-keeping requirements to ensure compliance with FATF recommendations.
Share