News

Updates to the AML / CFT Handbook for regulated financial services businesses

14/02/2020

We have updated the AML / CFT Handbook for regulated financial services businesses to reflect the legislative changes implemented by the Money Laundering (Amendment No. 11) (Jersey) Order 2019 (amendment no. 11) which came into force today (12 February 2020).

Amendment No. 11 makes miscellaneous improvements to the drafting and layout of provisions in the Money Laundering (Jersey) Order 2008 (MLO), including replacing Articles 16 and 16A.

The improvements are intended to add clarity and help with interpretation, without changing the effect of the provisions. These changes are not intended to change your obligations or practices but will hopefully make it slightly easier for you to interpret the requirements of the MLO.

It also corrects some cross-references and removes the Suspicious Activity Report (SAR) Form from the Schedule to the MLO. The SAR Form will instead be in a format "approved by the Minister". In practice, you will still need to use the form available on the Joint Financial Crimes Unit portal.

Updates to the AML / CFT Handbooks for the legal sector, the accountancy sector and for estate agents and high value dealers will follow shortly.

AML / CFT Handbook for regulated financial services businesses