Articles from 2024

Please be advised that the Policy & Resources Committee has enhanced the sanctions-related information on the States of Guernsey website with the addition of guidance on challenging designations and obtaining assistance with the unfreezing of funds. Standard forms are also now available on the website in relation to the making of reports, challenging designations and making designation proposals...

Please be advised that amendments have been made to the details of the following entity - NATIONAL AEROSPACE TECHNOLOGY ADMINISTRATION (Group ID: 13343) which is designated under the Democratic People’s Republic of Korea (Sanctions) (EU Exit) Regulations 2019 (the UK regulations). This follows an update to the UK Sanctions List , enacting the UN's decision made on 15 April 2024 to amend this entry...

L & A Finance L imited is Guernsey registered company. However, it has been noted that criminals have been using the company’s details in an attempt to commit fraud. The fraud scheme has included the setting up of a false website in the name of the firm. Anyone seeking to conduct business with L & A Finance L imited is encouraged to take steps to carefully ensure that they are dealing with the...

The States of Guernsey has published a report concerning the Bailiwick of Guernsey's money laundering, terrorist financing and financing of proliferation of weapons of mass destruction risks from legal persons and legal arrangements. The report follows, and supplements, the Bailiwick of Guernsey’s second National Risk Assessment, also known as NRA2, which was published in December 2023. When NRA2...

The Commission has today issued its report on the Thematic Review of Governance, Risk and Compliance Controls to Counter Financial Crime – Estate Agency, Legal and Accountancy Services. Towards the end of 2023 the Commission’s Financial Crime Division undertook a thematic review of the financial crime controls implemented within businesses registered with the Commission as prescribed businesses...

The Commission has today issued a feedback paper following the consultation on disclosure rules for insurance intermediaries issued in 2023. The Commission is grateful for the responses received. The feedback paper, along with the Insurance Intermediaries (Amendment) Rules, 2024, can be found on the Commission’s Consultation Hub . The amendments to the rules will come into effect on 1 st January...

The Guernsey Financial Services Commission has today issued a Consultation Paper seeking views from interested parties on the creation of a new policy regarding Unclaimed Money under the Protection of Investors (Bailiwick of Guernsey) Law, 2020. This Consultation Paper follows on from the Thematic Review regarding Unclaimed Money The Thematic Review identified that Unclaimed Money is not dealt...

Please be advised that 2 individuals have been designated under the Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019; these are implemented in the Bailiwick by the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 The following individuals have been designated: Mustafa Ayash Aozma Sultana These individuals are on the consolidated list, which can be...

On Tuesday 9 April from 10am to 1pm at Beau Sejour, representatives from the States of Guernsey and the Guernsey Financial Services Commission will present on the Bailiwick’s assessment of the risk of Guernsey administered legal persons and legal arrangements being abused for financial crime. The National Risk Assessment on Legal Persons and Legal Arrangements will form part of the Bailiwick of...