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ARTICLE · 02 JUNE 2021

Further Updates To The JFSC's AML Handbook

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On 31 May 2021, the handbook for the prevention and detection of money laundering and the financing of terrorism for regulated financial services business (the AML Handbook) published...

JerseyFinance and Banking
Andrew Weaver
Andrew Weaver
Gemma Whale
Gemma Whale
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On 31 May 2021, the handbook for the prevention and detection of money laundering and the financing of terrorism for regulated financial services business (the AML Handbook) published by the Jersey Financial Services Commission (JFSC) will be updated. The amendments are made as a direct result of the consultation undertaken by the JFSC in March of this year with regard to aligning Jersey's regulatory regime with the Financial Action Task Force (FATF) 2012 Recommendations.

Any financial services businesses undertaking regulated activity, in or from within Jersey, should be aware of the following key changes:

SECTION 1  – INTRODUCTION

With effect from 31 May 2021 the JFSC will no longer maintain a list of Equivalent Countries and Territories in Appendix B. Guidance to assist in determining equivalence will be set out in Section 1.7.3.

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