Regulatory Alerts2019-03-01
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 within the Bailiwick's financial and prescribed business sectors. It requires all specified businesses 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 to the Criminal Justice Law, detailing procedures for reporting suspicion, record keeping, and sanctions compliance to ensure alignment with FATF recommendations.
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