As part of Jersey’s fight against financial crime, the Jersey Financial Services Commission has announced it is working with the Government of Jersey to build a better understanding of local non-profit organisations and the potential risk of them being used to finance terrorism.
To do this, the Commission is collecting information from local non-profits about their purpose and activities, so it can assess the level of risk they face and pose.
Analysis of the data collected will determine the approach to supervising non-profit organisations, particularly those considered more vulnerable.
In a statement, the Commission said: "This exercise should not cause any concern; we appreciate that the majority of local non-profits’ activities and funds are Jersey-based. It is our current understanding that they present either no risk or a very low risk of terrorist financing."
It will send an online questionnaire to all non-profit organisations on its register next week, as well as a data request to the trust company sector for information about the non-profits they administer. The deadline for providing information is 5 October.
If a business is unable to provide the information requested, the Commission will not be able to risk assess it, which means it may automatically be considered higher risk and likely to be monitored more closely.
Support and drop-in sessions
From next week, the JFSC will have a dedicated area of its website for non-profit organisations, including guidance for completing the questionnaire.
It is hosting an online drop-in session to provide further information on 22 September at 13:00-14:00 – click here to register.
In addition, in-person appointments will be held on 23 September from 11:00 to 17:00 – book a 30-minute slot by contacting policy@jerseyfsc.org