Jersey’s AML budget is £1.8m [PA] and will employee 29 additional AML employees
The Government of Jersey published [27 September 2022] its most recent National Strategy and action plan, Statement on Activities, Risk Appetite and mitigation in this area which details how the Island will demonstrate this commitment.
In support of the vision, specific commitments are detailed in the Government of Jersey Plan 2022-25 and the 2021 Financial Services Policy Framework documents.
This strategy document builds upon these previously published commitments.
For these commitments, the Government approved additional ongoing funding of £1.8m per annum to enable further recruitment into four key areas:
- Government Financial Crime Strategy Team – An additional X5 Full-Time Equivalents (FTEs)
- Financial Intelligence Unit - additional 15 FTEs
- Jersey Financial Crimes Unit, Operational Unit - additional 3 FTEs
- Law Officers Department - additional 6 FTEs.
Additionally, the JFSC increased their headcount by 26 FTEs from 2020 to 2021, funded by the industry it supervises.
The JERSEYGOV and all authorities are committed to regularly reviewing the adequacy of funding and will recommend increases where required.
Documents to read below.
- National Strategy for AML,CFT,CPF
- Executive Summary - National Strategy for AML,CFT,CPF
- Statement - Activities, Risk Appetite and Mitigation