Regulatory Alerts2022-07-21
Guernsey Financial Services Commission Handbook on Countering Financial Crime and Terrorist Financing
The Guernsey Financial Services Commission issued this Handbook to establish the anti-money laundering and countering the financing of terrorism standards required of all specified businesses in the Bailiwick. It mandates compliance with Schedule 3 to the Criminal Justice Law through a risk-based approach, detailing obligations for corporate governance, customer due diligence, beneficial ownership transparency, and suspicious activity reporting. The document serves as both binding Commission Rules and practical guidance to ensure the jurisdiction aligns with FATF recommendations and prevents the abuse of its financial sector.
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