Regulatory Alerts2020-04-29
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Guernsey Financial Services Commission Handbook on Countering Financial Crime and Terrorist Financing
The Guernsey Financial Services Commission issued this Handbook to establish the standards expected of specified businesses for complying with anti-money laundering and countering the financing of terrorism laws. It mandates a risk-based approach requiring firms to implement robust corporate governance, customer due diligence, transaction monitoring, and suspicious activity reporting mechanisms. The document outlines the legal framework, enforcement powers, and consequences for significant failures to meet these regulatory requirements.
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