The JFSC has Issued on December 2017 ITS Feedback on Consultation Paper No. 6 2017 on the maintenance / amendments to Codes of Practice, and other amendments to address regulatory concerns and to ensure Jersey’s compliance with international regulatory standards The net result is the Amended Codes (in the form consulted on, save for the […]Read More
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Twas the night before Christmas, when all through the house Not a computer was stirring, not even a mouse; The security measures were in place round the data with care, In hopes that Anonymous soon wouldn’t be there; The data protection officers were nestled all snug in their beds, While visions of gap analyses danced […]Read More
Question A client has instructed their financial service professional (e.g. solicitor) to purchase a property in Edinburgh which is to be funded partly by a building society mortgage, with the balance being provided by their parents who live in China. The client’s parents are insisting on sending the funds for the balance directly to me, […]Read More
The new game Kleptocrat lets you see if you could plunder a country and get away with it. Ever dreamed about funnelling millions out of the country you’re supposed to be ruling? Think you’d be good at it? Well, try your hand at a game called Kleptocrat. The Mintz Group, a private eye firm, drew […]Read More
The following provides updates on anti-money laundering and counter-terrorist financing developments, both in the UK and internationally, that Comsure has included in its training for the period from May 2017 to October 2017 The Highlights include: 1. PUBLICATION OF MONEY LAUNDERING REGULATIONS 2017 a. The Money Laundering, Terrorist Financing and Transfer of Funds (Information on […]Read More
An employee of a UK family office is persuaded by a client to re-issue an invoice to an offshore company to avoid incurring VAT on its fees – Guilty! A non-UK trustee company acting as trustee of a non-UK trust makes a distribution to a UK resident beneficiary knowing the beneficiary does not intend to report it […]Read More