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JFSC recommend AML sources to help combat financial crime

11/07/2022

The JFSC has published additional information sources to assist Industry in obtaining a deeper understanding of money laundering, the financing of terrorism and the proliferation of weapons of mass destruction (together:- financial crime).

These documents are for information only and do not introduce any new Code of Practice requirements, but the source referenced may be utilised for the following:

  • Improvement of financial crime risk assessment and mitigation
  • Compliance monitoring
  • Staff training and
  • Other measures to increase the effectiveness of your internal systems and controls.

And the source documents referenced consider different risk factors and may comment on various jurisdictions.

The source list is here

The additional information sources guidance is general and complementary to

  1. The JFSC  AML/CFT Handbook.
  2. International standards as found in The AML /CFT / CPF international organisations webpage– this page provides a reference to the Financial Action Task Force (FATF)’s global standards and other critical international bodies relevant to financial crime matters. These include the Wolfsberg Group, the Basel Committee on Banking Supervision and the European Supervisory Authorities.

The JFSC do close

  • The update it does not constitute, nor should it be construed as, legal advice or a mandatory list of information sources.

Source

https://www.jerseyfsc.org/news-and-events/additional-information-sources-to-support-industry-in-combatting-financial-crime/

JERSEY