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Guernsey SAR “Consent” Guidance

28/07/2022

The Bailiwick of Guernsey Financial Intelligence Unit ("FIU"),

  • Acts as the competent authority with the sole responsibility for the receipt, analysis and timely dissemination of Suspicious Activity Reports ("SARs") filed by Financial Services Businesses and Non-Financial Services Businesses

the report to fulfil obligations set out in

  • Part I of The Disclosure (Bailiwick of Guernsey) Law, 2007, or
  • Sections 12, 15 or 15A of Terrorism and Crime (Bailiwick of Guernsey) Law, 2002.

The FIU also maintains responsibility for addressing any 'consent' requests as a result of a SARs being submitted.

The FIU has now [Jan 2022] issued CONSENT guidance - https://guernseyfiu.gov.gg/CHttpHandler.ashx?id=149353&p=0 - This document is intended to

  • Provide information as to the approach that the FIU will adopt when an appointed Money Laundering Reporting Officer ("MLRO") or Nominated Officer ('NO') of a reporting institution seeks consent from the FIU
  • In respect of an act that may constitute a money laundering and/or terrorist financing offence according to relevant legislation.

This document intends to

  • Outline the consent regime, and expected responses, and address some common misinterpretations with regards to the application of consent.

in addition to the guide MLROS must know

  1. Part I of The Disclosure (Bailiwick of Guernsey) Law, 2007 ("Disclosure Law"), 'Disclosure of Information by Financial Services Businesses and by Non-Financial Services Businesses';
  2. Part II of the Criminal Justice (Proceeds of Crime)(Bailiwick of Guernsey) Law, 1999 ("POCL"), 'Offences in Connection with the Proceeds of Criminal Conduct';
  3. Part III of the Terrorism and Crime (Bailiwick of Guernsey) Law, 2002 ("TACL"), 'Terrorist Property';
  4. Part IV of the Drug Trafficking (Bailiwick of Guernsey) Law, 2000 ("DTL"), 'Offences in Connection with the Proceeds of Drug Trafficking';
  5. Schedule 3 of the Criminal Justice (Proceeds of Crime)(Bailiwick of Guernsey) Law, 1999 ("POCL") 'Specified Businesses'
  6. Chapter 13 of Guernsey Financial Services Commission ("GFSC") Handbook on Countering Financial Crime and Terrorist Financing, 'Reporting Suspicion';
  7. FIU Guidance to Improve Suspicious Activity Reports;
  8. FIU Guidance on Requests for Additional Information

Guidance Contents

  1. The Consent Regime
  2. What is the Defence under POCL and TACL?
  3. When Should I Seek Consent from the FIU?
  4. What are the consequences if insufficient information is submitted?
  5. 'No Consent'
  6. 'Consent granted letter'
  7. Ongoing Obligations
  8. Tipping Off Offences
  9. Can I Discuss this Consent Issue or SAR with the Regulator or Revenue Service?
  10. Appendix: Consent Regime Flow Chart

https://guernseyfiu.gov.gg/CHttpHandler.ashx?id=149353&p=0

GUERNSEY YOUTUBE-IMAGE