The Jersey Financial Services Commission has published updates in two areas: the appendices of its Countries and territories in the AML/CFT Handbook; and its Jersey financial sanctions regimes and practical guidance.
Appendix D2 of the AML/CFT Handbook provides details of countries and territories (and areas) that have been identified as presenting higher risk in relation to money laundering and the financing of terrorism risks.
The Commission has reminded businesses to review their policies and procedures, as well as their existing customer relationships, to assess the impact of these updates on their business.
• To view the updated AML/CFT handbooks click here
Meanwhile, updated versions of Jersey's financial sanctions regimes and financial sanctions practical guidance clarify the reporting obligations set out under the Sanctions and Asset Freezing (Jersey) Law 2019 (SAFL).
All relevant financial institutions have reporting obligations, which must be fulfilled as soon as practicable. Reports must be made to the Minister for External Relations and Financial Services and include the information specified in Article 32 of the SAFL.
• To view sanctions by country and category click here
• For the Financial sanctions practical guidance click here