News

OFAC has listed Iran’s National Development Fund (NDF) and Etemad Tejarate Pars Co. under the newly-enhanced counter-terrorism authority The sanctions come in response to “Iran’s brazen attack against Saudi Arabia”, and the State Department’s says that evidence for the attack “points to Iran – and only Iran”. The NDF reportedly provided the IRGC-QF, Iran’s Ministry […]

The Education for Justice (E4J) initiative developed, with the support of academics from around the world, a series of modules on cybercrime. These university modules cover many aspects of this complex and fascinating field and include both theoretical concepts as well as practical knowledge.  Furthermore, these modules are multi-disciplinary in nature, since they focus on […]

Human trafficking is happening all around us – even in Jersey. Victims are often hidden away, but you may encounter individuals or situations of concern. Knowing how to ‘spot the signs’ could save lives. To assist you in flagging issues the indicators in this link should be considered and, if you have any suspicions about human […]

The Respondent, Kevin Manning, is a solicitor (écrivain) of the Royal Court.  On 12th December, 2018, he was sentenced to a total of 3½ years imprisonment in respect of twenty counts of fraudulent conversion, one count of fraudulent conversion by a trustee and one count of failing to comply with the requirements of the Money […]

The following are the areas firms should focus on when assessing their MLRO Lack of independent assessment conducted annually Training not specific and effectiveness not tested Staff encouraged to discuss concerns with line-manager or MLRO/DMLRO Inadequate processes and procedures Lack of understanding between MLRO and MLCO responsibilities Unclear decision-making process regarding SARs Sourced from

On September 25, the Joint Money Laundering Steering Group (JMLSG) announced on its website that HM Treasury has approved revisions to three chapters in Part II of the JMLSG’s anti-money laundering and counter-terrorist financing sectoral guidance. The amended guidance relates to credit unions (section 4), asset finance (section 12) and brokerage services to funds (sector […]

This update follows the first-two-ever prosecutions of financial institutions in Jersey for the offence of INTERMEDDLING under the Probate (Jersey) Law 1998 (“the Probate Law”) By Article 23(1) of the Probate (Jersey) Law 1998, a person guilty of an offence is liable to a fine or to imprisonment for a term not exceeding twelve months […]