GFSC issues AML/CFT reminder

Posted: 02/04/2019

The Financial Crime Division of the Guernsey Financial Services Commission has reminded firms that the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) (Amendment) Ordinance, 2018 came into effect on 31 March 2019.  

Consequently, Schedules 3, 4 and 5 to the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999 as amended have replaced the Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) Regulations, 2007 as amended and the Criminal Justice (Proceeds of Crime) (Legal Professionals, Accountants and Estate Agents) (Bailiwick of Guernsey) Regulations, 2008 as amended, which were previously in force.

In light of the above, the Financial Crime section of the Commission’s website has been updated to reflect the changes in legislation.

A new page has been published, which contains links to the revised Handbook for Specified Businesses, as well as copies of the last published versions of the 2007 Handbook for Financial Services Businesses and the 2008 Handbook for Prescribed Businesses

These 2007/08 Handbooks are no longer in force but have been provided for reference in light of the transitional provisions in the revised framework.

• For the Handbook on Countering Financial Crime and Terrorist Financing click here

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