PEP Changes to the Money Laundering Order into force on 1 September.
The Assistant Chief Minister, Deputy Elaine Millar, signed the Money Laundering (Amendment No. 12) Order, which will come into force on 1 September.
The change is another significant step forward for Jersey’s AML/CFT regime, aligning the Money Laundering Order even closer with FATF requirements whilst at the same time implementing international best practices regarding PEP classification, enabling relevant persons to declassify PEPs after specific periods and subject to the application of a risk-based approach.
About the Consultation
This Consultation seeks views on proposed changes to the Money Laundering (Jersey) Order 2008 (MLO).
Draft Money Laundering (Amendment No. 12) (Jersey) Order 202- https://www.gov.je/SiteCollectionDocuments/Tax and your money/Draft Money Laundering (Amendment No. 12) (Jersey) Order 202-.pdf
Draft Money Laundering (Amendment No. 12) (Jersey) Order 202- Explanatory Note https://www.gov.je/SiteCollectionDocuments/Tax and your money/Draft Money Laundering (Amendment No. 12) (Jersey) Order 202- Explanatory Note.pdf
Consultation regarding amendments to the Money Laundering (Jersey) Order 2008 https://www.gov.je/SiteCollectionDocuments/Tax and your money/Consultation regarding amendments to the Money Laundering (Jersey) Order 2008.pdf
Responses to the Consultation
Money Laundering (Amendment No. 12) (Jersey) Order 2023 - Response Paper https://www.gov.je/Government/Consultations/SiteAssets/Pages/ChangesMoneyLaunderingOrder/Money Laundering (Amendment No. 12) (Jersey) Order 2023 - Response Paper.pdf
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