A study on Money laundering and tax evasion risks in free ports provides an insight into the money laundering, tax evasion and tax avoidance risks connected with free zones, particularly those that function as (semi-) permanent storage for high-value goods, often referred to as ‘free ports’. Conducted at the request of the European Parliament’s Special […]

As Jersey continues to make preparations for its first National Risk Assessment, there is a recognition that changes are required to the SAR template amongst other areas to improve the quality and standard of submissions to the FIU. Part of these changes require the FIU to assist industry in the preparation of SARS. To that […]

The National Crime Agency (NCA) has published its Annual Report on Suspicious Activity Reports (SARs) covering the period from October 2014 to September 2015 (the Period). The UK’s NCA is the enforcement agency tasked with gathering, processing, analysing and disseminating information relevant to financial crime in the UK. The Fraud Intelligence Unit (FIU) is a […]

DRAFT PROCEEDS OF CRIME (FINANCIAL INTELLIGENCE) (JERSEY) REGULATIONS 201 These Regulations would establish a financial intelligence unit (“FIU”) for Jersey, to carry out the functions of such a unit as described in Article 41B of the Proceeds of Crime (Jersey) Law 1999 (as inserted by the Proceeds of Crime (Amendment – Financial Intelligence) (Jersey) Law […]