Regulatory Alerts2026-07-07
Added · Updated
Guernsey Financial Services Commission Handbook on Countering Financial Crime (AML/CFT/CPF)
The Guernsey Financial Services Commission issued this Handbook to establish mandatory standards for specified businesses to prevent money laundering, terrorist financing, and proliferation financing. It requires firms to implement a risk-based approach encompassing corporate governance, customer due diligence, transaction monitoring, and reporting of suspicious activities in compliance with Schedule 3 of the Criminal Justice Law. The document provides detailed guidance on managing risks associated with virtual assets, sanctions, and beneficial ownership while outlining the legal consequences for significant failures to meet these regulatory requirements.