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ARTICLE · 19 AUGUST 2021

Beneficial Owners And Controllers (BOC)

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The aim of BOC is to drill-down to the identification of persons who are the beneficial owners and controllers of legal persons or legal arrangements.

JerseyFinance and Banking
David Dorgan
David Dorgan
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The aim of BOC is to drill-down to the identification of persons who are the beneficial owners and controllers of legal persons or legal arrangements.  This is required to prevent illegal activities via corporate entities or legal arrangements that can disguise identities and convert the proceeds of crime.

The Financial Services (Disclosure and Provision of Information) (Jersey) Law 2020 (together with its supplemental regulations and order) came into force on 6th January 2021 and brought Jersey up-to-date with MoneyVal's assessment in relation to Jersey's implementation of FATF Recommendation 24 by introducing a specific legislative framework for the collection of BOC information.

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