Regulatory Alerts2019-03-06
Handbook for Financial Services Businesses on Countering Financial Crime and Terrorist Financing (June 2017)
The Guernsey Financial Services Commission issued this handbook to establish mandatory standards and guidance for all financial services businesses in Guernsey to prevent money laundering and terrorist financing. It requires firms to implement a risk-based approach, maintain robust corporate governance, and enforce strict customer due diligence and transaction monitoring procedures. The document outlines specific regulatory obligations regarding employee training, record keeping, reporting suspicions, and adherence to international sanctions and anti-corruption laws.
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