WHAT CAN AN AML SERVICE PROVIDER DO FOR ME?
The concept of an AML Service Provider (AMLSP) has been introduced as a mechanism to support those now required to register under the new regime, particularly where they are already administered by a regulated Jersey trust or fund services business.
AMLSPs can apply for registration on behalf of their customers and employees of the AMLSP can be appointed to act as MLRO and MLCO for registrable entities.
An entity is eligible to appoint an AMLSP if:
- It is not itself a regulated person carrying on a regulated business; and
- It has no established place of business in Jersey (other than through a regulated Jersey trust or fund services provider).
An entity is eligible to act as an AMLSP if:
- It is registered to conduct the relevant classes of trust company business (i.e. G, H, L, OA and OB) and/or fund services business (i.e. U, V, ZG, ZH, ZI and ZJ); and
- It is not a managed entity, a managed trust company or a natural person.
- JFSC = https://www.jerseyfsc.org/industry/sectors/financial-crime-schedule-2-business/anti-money-laundering-services-provider-faqs-guidelines-and-legal-notices/
- Guidance for AMLSP workbooks https://www.jerseyfsc.org/media/6441/guidance-for-amlsp-workbooks.pdf
- AMLSP key person application https://www.jerseyfsc.org/media/6428/amlsp-key-person-application-workbook.xlsx
- AMLSP appointment to relevant person workbook https://www.jerseyfsc.org/media/6429/amlsp-appointment-to-relevant-person-workbook.xlsx
- Guidelines on interpretation of - Article 36 of the proceeds of crime(Jersey)Law 1999 (January 2023) https://www.jerseyfsc.org/media/6448/guidelines-on-interpretation-of-article-36.pdf
- Notice issued under Article 9A (4) of the Money Laundering (Jersey) Order 2008 (April 2023) https://www.jerseyfsc.org/media/6604/9a-4-notice.pdf
- Notice issued under Article 10 of the Money Laundering Jersey Order (January 2023) https://www.jerseyfsc.org/media/6435/amlsp-article-10-notice.pdf
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