Regulatory Alerts2020-04-29
Added · Updated
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 specified businesses to prevent money laundering and terrorist financing in the Bailiwick. It requires firms to implement a risk-based approach encompassing corporate governance, customer due diligence, beneficial ownership transparency, and suspicious activity reporting. The document serves as the primary guidance for complying with Schedule 3 to the Criminal Justice Law and other relevant enactments, with non-compliance subject to regulatory enforcement and prosecution.
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