Regulatory Alerts2025-05-08
Proposed amendments to the Handbook on Countering Financial Crime to cover counter proliferation financing (January 2024)
The Guernsey Financial Services Commission proposes amendments to the Handbook on Countering Financial Crime to extend existing anti-money laundering and counter-terrorist financing obligations to countering the financing of proliferation of weapons of mass destruction. These changes require specified businesses to conduct a distinct proliferation financing risk assessment by 31 December 2024 and update Chapter 12 to reflect post-Brexit sanctions frameworks and the second National Risk Assessment. The consultation period closes on 2 February 2024 to ensure regulatory compliance ahead of the upcoming MONEYVAL evaluation.
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