The GFSC have posted x3 AML updates on their website today.

These are

1.    Changes to the Handbook for Prescribed Businesses –
2.    Changes to the Handbook for Financial Services Businesses
3.    Consultation on changes to AML/CFT legislation

In summary these news matters deal with the following

1.    (1&2)  Prescribed businesses are advised that the Commission has made a number of changes to the Handbook for Legal Professionals, Accountants and Estate Agents on Countering Financial Crime and Terrorist Financing. The changes come into force on 31 December 2009.

2.    (3) The Commission has written to the managing directors of all Financial Services Businesses today, seeking comments on the proposed changes to Schedule 1 to the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999 (“the 1999 Law”), proposed changes to Schedule 1 to the Registration of Non-Regulated Financial Services Businesses (Bailiwick of Guernsey) Law, 2008 (“the 2008 Law”) and on one proposed amendment to the Criminal Justice (Proceeds of Crime) (Financial Services Businesses) (Bailiwick of Guernsey) Regulations.

3.    Read more http://www.gfsc.gg/content.asp?pageID=14