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Home News Jersey’s Financial Intelligence Unit becomes operationally independent [27 July 2023]
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Jersey’s Financial Intelligence Unit becomes operationally independent [27 July 2023]

28/07/2023

Jersey Financial Intelligence Unit (FIU) has become an operationally independent organisation, separating from the States of Jersey Police (SoJP) and becoming the Island’s only dedicated intelligence agency.

The FIU is responsible for the receipt, analysis, and dissemination of financial intelligence, and holds a critical role in the international effort to combat illicit financial flows and abuse of Jersey’s financial services and economic position.

Financial intelligence is often provided by Jersey’s financial services industry through Suspicious Activity Reporting (SARs) and other reporting methods.

In addition to strong industry links, the FIU works closely with competent authorities around the world to share information which could stop money laundering, terrorist financing or the funding of weapons proliferation.

The FIU has operated as part of the SoJP’s Joint Financial Crimes Unit but following a change in legislation, now has a separate governance board and reports to Jersey’s Chief Minister via the Assistant Chief Minister with responsibility for Financial Services, Deputy Elaine Millar.

Jonathan Groom, who was recruited in February and has now been appointed Director of FIU, said:

  • “This is a critical milestone for the FIU, the Government, and the Island not only in establishing the capability needed to support Jersey’s investigative and prosecutorial teams, but importantly to enable us to develop a clearer understanding of the financial crime risk we face both domestically and internationally.
  • “These legislative changes enable the FIU to become operationally independent so that we can grow our team, invest in new systems, and – most importantly – be able to autonomously focus our intelligence efforts to combat illicit financial flows and the Island’s position as an international finance centre.
  • “The key deliverables for the FIU are collaboration and adding value through intelligence insight, and we are focused on delivering a high performing and effective unit that meets the requirements of the many partners and stakeholders across the anti-financial crime landscape.”

Deputy Millar said:

  • “This development is another demonstration of the Government of Jersey’s intention to follow international best practice and establish the FIU as an independent intelligence agency.
  • We are committed to combatting financial crime and, in line with international standards, this is another step towards the FIU becoming fully independent and autonomous.”

Legislation

Source

JERSEY

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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.  

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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.