Please note there has been changes to the Appendix D2 – Sources 7 and 9. The driver for these changes are revisions and updates in line with Corruption Perceptions Index 2013 and Worldwide Governance Indicators (WGI) project. http://www.jerseyfsc.org/pdf/Part_4_AML_Handbook_2013_Dec_24.pdf

In his 2001 article “Money Laundering and Tax Evasion – the Banker’s Dilemma”,[www.jerseylaw.je/Publications/jerseylawreview/feb01/the_difficulties_binnington.aspx] Alan Binnington has highlighted some of the main difficulties in the operation of the primary money laundering offences contained in the Proceeds of Crime (Jersey) Law 1999 (“the 1999 Law”) in the field of tax evasion. Tax evasion per se does not […]

Financial institutions in Jersey, Guernsey and the Isle of Man (the Crown Dependencies) will soon be obliged to automatically provide information to the tax authorities relating to the financial affairs of UK resident clients in respect of 2014 onwards. This is sometimes referred to as ‘UK FATCA’, as it is based on the US’s FATCA […]

The Financial Services Commission (FSC) held a Presentation on The Criminal Vulnerabilities of International Financial Centres at the FSC House on 21st of November. The Presentation was conducted by Mr Stephen Platt of Stephen Platt & Associates LLP. Mr Platt is one of the world’s most experienced practitioners in the conduct of regulatory investigations, and […]

The island nation is in process of implementing several of Indian regulations to fight financial crime.  Mauritius plans to provide more teeth to its financial market regulator and is also setting up a serious fraud office to combat financial frauds, apparently taking a leaf out of the Indian regulatory framework. The island nation, with a […]

1. STEP 1. SCREEN. a. The primary function of any screening programme is to provide an end-to-end process for matching an individual or entity against entries on global sanctions, enforcement and PEP lists. However, the major issue that often impacts such a screening programme is the volume of false positives generated by screening software applications. b. The system […]

The Joint Money Laundering Steering Group (JMLSG) has received confirmation  of HM Treasury’s approval of certain amendments made to its anti-money laundering (AML) and counter-terrorist financing (CTF) guidance. The approval was confirmed in a letter to the JMLSG and relates to changes made to parts I and II of the JMLSG’s 2011 guidance. http://sites.herbertsmithfreehills.vuturevx.com/38/5938/landing-pages/united-kingdom.asp?sid=6f726542-002e-4ba6-bcc9-47551be8cd5a

A ruling  by England’s senior family judge in  2003 reveals a new hazard of getting divorced – that your solicitor or your soon-to-be-ex’s lawyer will shop you to the authorities for not paying all your taxes. Dame Elizabeth Butler-Sloss confirmed that barristers and solicitors negotiating divorce settlements risk committing a criminal offence if they fail […]