AML Update: Consultation On Amendments To The AML/CFT/CPF Handbook

Introduction

The Jersey Financial Services Commission ("JFSC") recently launched a consultation on further amendments to its anti-money laundering/countering the financing of terrorism/countering proliferation finance ("AML/CFT/CPF") Handbook (the "Handbook") (the "Consultation"). In this update, we set out the JFSC's proposals to add new and expanded guidance notes across the Handbook and to add a new code of practice in respect of politically exposed persons ("PEPs").

The consultation

The Consultation sets out a number of amendments to the Handbook, and raises six questions for consideration, as follows:

Addition of designated non-financial businesses and professionals ("DNFBPs")