JERSEY FIU-JFCU UPDATE

Jason Carpenter has issued some developments In order to improve the prioritisation of SARs received and enhancing statistical reporting capabilities in respect of SARs the FIU has effected some minor changes to the POLSAR SAR Template which will come into effect on 6 July 2021.

Also the JERSEY FIU now has a dedicated LinkedIn page at  Jersey Financial Intelligence Unit (FIU) | LinkedIn

Minor changes to SAR template on POLSAR – in effect from Tuesday 6 July 2021

• In order to assist better and more timely communication with the industry, the FIU now has a dedicated page on LinkedIn which can be found at  Jersey Financial Intelligence Unit (FIU) | LinkedIn

• Jason Carpenter
• Acting Head of FIU
• Joint Financial Crimes Unit – FIU

• The changes relate to certain fields that will now become compulsory to populate as follows:

• Under the Nominal Section –
  • Gender,
  • Nationality and
• Under the Statistical Section –
  • Disclosure Type,
  • Criminality Suspected,
  • Nature of Institution and
  • Grounds for Disclosure.

• What will happen
  • If left unpopulated you will be presented with a warning notice identifying what fields are required to be populated.

• You will also not be able to proceed through the SAR submission process until all compulsory fields have been populated.

• The FIU appreciate there may be occasions where you do not hold the relevant information and therefore an option, for example ‘Unknown’ is an available choice, but should not be seen as an automatic default option especially where the requested information is held or known.

• The provision of relevant information on the SAR Template not only assists the FIU in prioritising SARs received, but also allows it to provide meaningful output as it works to better inform industry of current trends and typologies as part of its increased outreach and engagement.