Sanitised case 13 A TCB made a STR following internet research and lack of due diligence. The client had been involved in a high profile court case in Europe, which involved accepting ‘bribes’ or ‘commissions’ for taking on business without asking any questions. A Trust structure was formed in Jersey which was structured to conceal […]

Sanitised case 12 A disclosing institution received a request to open two individual accounts for two brothers whom were resident in the UK. Two large credits were received into these accounts shortly after from Guernsey. The clients then subsequently requested the funds to be transferred to the UK, without an adequate explanation for the reasoning […]

Sanitised case 11 A local disclosing institution became aware of persons trying to test the account opening procedures and possibly to fraudulently obtain Corporate information in order to clone or defraud the said institution.All attempts were thwarted and no fraud occurred as a result of staff vigilance. http://www.jersey.police.uk/SiteCollectionDocuments/Financial%20crime/ID%20JFCU%20Trends%20typologies%2020110107%20SH.pdf

Sanitised case 10 A local institution was approached by a walk in client looking for safe custody services for bearer instruments the client was in possession of. It transpired that these bearer instruments were subject of much controversy and the business declined. The client then tried several other local institutions that also declined the take […]

Sanitised case 9 A local institution filed a SAR based on suspicions arising initially from account activity not being in keeping with expectations, an account set up for personal reasons. The account was being used for third party payments to and from Russia,where the client was based and employed. The client stated these payments wereloans […]

Sanitised case 8 A TCB was conducting an overview of PEP accounts when a Russian PEP was identified. Following checks conducted by the disclosing institution it was revealed that the subject was wanted by the Russian authorities. Following lengthy enquiries by the JFCU it was established that all the charges against the subject were eventually […]

Sanitised case 7 A TCB submitted filed a SAR based on updating their KYC/CDD. It was noted that their client had previously been prosecuted for postal offences in the US. The TCB became aware that the client was still conducting the same type ofbusiness. Further investigations by the JFCU with the Canadian & US law […]

Sanitised case 6 A SAR was submitted due to concerns raised by a member of staff during the KYC/KYB update process on one of their customers. A close relative of the customer had written in advising that the customer was away and couldn’t be contacted but will furnish the requested documentation as soon as possible. […]