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JFSC DATA COLLECTION exercise on WMD [the countering of the financing of proliferation of weapons of mass destruction] (to start 18 July 2022 - Industry will have two months to complete)


The JFSC are working with the Government of Jersey and other local and international stakeholders to build a better understanding of the local exposure to proliferation financing and its associated risks.

To do this, Industry will be risk assessed for exposure to proliferation financing risk.

The JFSC will be collecting current information from stakeholders in a questionnaire which will be circulated on 18 July 2022. Industry will have two months to complete this.

The analysis of the JFSC data collection will determine its approach to future potential enhancements that the JFSC may need to make to the regulatory framework.

The above will help demonstrate that the JFSC, and the Island, can effectively identify, assess, monitor, manage and mitigate proliferation financing risks.

This exercise should not cause any concern.

Undertaking a risk assessment of this kind is advised under the Recommendations of the international AML/CFT/CPF standard setter, the Financial Action Task Force.

More information on this national risk assessment will follow closer to the time.