For the first time, the Royal Court of Guernsey has had to deal with the consequences of Guernsey’s law enforcement, the Financial Intelligence Service (FIS), giving no consent to a proposed transaction under Guernsey’s anti-money laundering regime through a private law action being brought by a person claiming an asset against the firm holding it. […]

  T&Cs vs AML The Royal Court of Guernsey recently ruled (unreported judgement – http://bit.ly/2ahQ9zg) in Jakob International Inc v HSBC Private Bank (CI) Limited on an application by HSBC to strike out a claim brought by its customer, Jakob. Although this was decided without a substantive hearing of all facts, the Court’s decision provides […]