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The revised Handbook on Countering Financial Crime and Terrorist Financing (Handbook), issued by the Guernsey Financial Services Commission (GFSC), came into operation on Monday 1 April 2019.

A recent dawn raid on a multinational technology company conducted by the Japan Fair Trade Commission (“JFTC”) as part of its investigation into potential anticompetitive conduct in the cloud computing sector...

On December 12, 2018, the States of Guernsey voted to approve legislation which represents the culmination of a substantial effort to revise Guernsey's proceeds of crime framework in order to meet the ...

Baroness Margaret Hodge and Jake Richards MP visited Guernsey to examine the island's approach to beneficial ownership transparency and its fight against illicit finance.

On 27 April 2017, the Criminal Finances Act 2017 received Royal Assent. It is expected to come into effect in September 2017, and will introduce the new corporate criminal offence of failing to prevent the facilitation of tax evasion.

It is 56 years since Bob Dylan released his anthemic song "The Times They Are a-Changin'", but it still proves relevant in many areas of life, including financial crime.

In October 2015 we reported on the UK's consultation papers outlining HMRC's proposed two pronged approach to tackling facilitators and enablers of offshore tax evasion.

Further to Bailiwick of Guernsey Consent Regime guidance issued in April 2023 (Guidance), a recent change in approach from the Guernsey Financial Intelligence Unit (FIU)...

A constructive trust is an equitable remedy imposed at the discretion of a court. It benefits a party that has been wrongfully deprived of its rights due to another person obtaining or holding a...

In July 2019 we published a briefing note on a case involving a bank's duty of care to protect its customer against fraud ...

Guernsey's Policy and Resources Committee has recently submitted its proposals for the establishment of a register of beneficial ownership for consideration by the States of Guernsey...

Payments was historically a hidden component of financial services only fully understood by specialists. In the last 20 years, however, it has become a strategic differentiator...

There must have been close to an audiblesigh of relief from banks and other financialinstitutions when the final decision in thelandmark case Shah and another v HSBCPrivate Bank (UK) Ltd ("Shah") was handeddown by the High Court of Justice in May2012, not least because it ended four and ahalf years of litigation, six reported decisions(three from the Court of Appeal) and a gooddeal of uncertainty during that time.

The Handbook on Countering Financial Crime and Terrorist Financing (the Handbook) issued by the Guernsey Financial Services Commission (the Commission) is a statement of the standards...

In 2016 Moneyval issued an evaluation report on the Bailiwick of Guernsey. This commented favourably upon the Island's regulatory framework and compliance regime...

Carey Olsen partner Mark Dunster and counsel Simon Florance consider the recent judgment in Liang v RBC Trustees (Guernsey) Limited – the first time a private law action...

Alas, in my opinion many of the most successful criminals are often better strategists than some of the most powerful business executives in the world.