Jersey recognizes the risk that the simplification of CDD measures may present, as well as the inherently higher level of risk that may be found in some customer relationships in international financial centres. In line with the recommendation made by the IMF, the insular Jersey authorities have reviewed provisions in Articles 16 and 17 of […]

MONEY LAUNDERING (AMENDMENT No. 6) (JERSEY) ORDER 2013 has introduced concept of obliged person – The following outlines the new rules as simply as possible!!! Stage 1 –  Definitions “Obliged person” has the meaning in Article 16(1);   “Regulated business” means a FINANCIAL SERVICES BUSINESS in respect of which a person – is registered under […]