Regulatory Alerts2026-03-04
Handbook on Countering Financial Crime (AML/CFT/CPF)
The Guernsey Financial Services Commission has issued a comprehensive regulatory handbook establishing mandatory anti-money laundering, countering the financing of terrorism, and countering proliferation financing standards for all specified businesses operating in the Bailiwick. The document mandates a risk-based compliance framework, detailing strict requirements for corporate governance, customer due diligence, beneficial ownership verification, transaction monitoring, and suspicious activity reporting. It further addresses sector-specific obligations including virtual assets, wire transfers, and international sanctions, while clarifying that significant failures to meet these standards will trigger regulatory enforcement, licence restrictions, or prosecution under Bailiwick law.