Commission Published Paper on Implementation of New Anti-Money Laundering Handbook

The Commission has yesterday published a paper to update industry on progress in finalising the Money Laundering (Jersey) Order 200- (“Order”) and Handbook for the Prevention and Detection of Money Laundering and the Financing of Terrorism (“Handbook”).

The paper sets out:

- a timetable for finalising the Order and Handbook;
- areas where the Commission expects regulated businesses to begin preparations; and
- the Commission’s policy in a number of key areas raised during the consultation process in 2006.

-Ends-

For further information please contact: -

Andrew Le Brun
Director, International & Policy
Jersey Financial Services Commission

Tel: + 44 (0) 1534 822065
Fax: + 44 (0) 1534 822001
Email: a.lebrun@jerseyfsc.org

Notes to Editors.

1. Consultation Paper No. 4 (Handbook for the prevention and detection of money laundering and the financing of terrorism) was published by the Commission in May 2006.

2. The Commission published a feedback paper on Consultation Paper No. 4 in November 2006.

3. See: http://www.jerseyfsc.org/the_commission/anti-money_laundering.

4. Implementation of the Order and Handbook is part of a series of measures that are underway in order to implement the Financial Action Task Force’s 40+9 Recommendations – compliance with which will be assessed by the International Monetary Fund in 2008.


See original press release