MONEYVAL
In 2012, Jersey, together with the other Crown Dependencies, joined MONEYVAL’s mutual evaluation and follow-up process.
In future, MONEYVAL will be responsible for assessing Jersey’s compliance with relevant international standards to counter money laundering and terrorist financing. Previous assessments (published in 2003 and 2009) were undertaken by the International Monetary Fund (the “IMF”).
First progress report
Representatives from Jersey’s AML/CFT agencies attended a meeting of MONEYVAL’s members on 12 December 2013 to consider a progress report prepared by the insular authorities on action taken to address recommendations made by the IMF in 2009.
The report was considered alongside a written analysis prepared by MONEYVAL’s secretariat and is published at:
MONEYVAL members were satisfied with the information provided and the progress being undertaken and approved the progress report and the written analysis.
Background on first 3rd Round Written Progress Report Submitted to MONEYVAL dated 12/12/2013
This paper provides a review and analysis of the measures taken by Jersey to address the deficiencies in relation to the Core Recommendations (Section 1.2) together with a summary of the main conclusions of this review (Section 1.3).
This paper should be read in conjunction with the progress report submitted by Jersey.- It is important to note that the present analysis focuses only on the Core Recommendations and thus only a part of the anti-money laundering/combating the financing of terrorism (AML/CFT) system is assessed.
Furthermore, when assessing progress made, effectiveness was taken into account, to the extent possible in a paper based desk review, on the basis of the information and statistics provided by Jersey, and, as such, the assessment made does not confirm full implementation or effectiveness.
Next assessment
Jersey will be reviewed under MONEYVAL’s fourth round of assessments in September 2014.
Read more:
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http://bit.ly/1lTzPqC
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