Financial Crime

The Commission is today issuing Instruction Number 06/2014 for Financial Services Businesses and Prescribed Businesses replacing Instruction No. 02/2014 issued on 9 July 2014. Libya has been removed from Part C which is the list of countries and territories of concern to the Commission. This means that financial services businesses and prescribed businesses may apply a risk based approach to...

Please be advised of the following change to sanctions listings related to Iran and to terrorist financing, which have immediate effect in the Bailiwick. Measures which should be taken as a result are set out at the end of this notice. IRAN On 3 July 2014 the General Court of the European Union annulled the decision to include certain individuals and entities on the list of persons and entities...

​Please be advised that there have been a number of developments in relation to the Bailiwick’s sanctions regime, which are set out below. These developments concern sanctions relating to the Al-Qaida network, Belarus, the Federal Republic of Yugoslavia and Serbia, and the Russian Federation. Measures which should be taken as a result are set out at the end of this notice. AL–QAIDA NETWORK Council...

Please be advised of changes to sanctions listings related to Libya, Somalia and Syria which have automatic and immediate effect in the Bailiwick. Measures which should be taken as a result are set out at the end of this notice. LIBYA Council Regulation (EU) No. 204/2011 of 2 March 2011, as implemented in the Bailiwick by the Libya (Restrictive Measures) (Guernsey) Ordinance, 2011, the Libya...

​Please be advised of the following changes to sanctions listings related to the Al-Qaida network which have immediate effect in the Bailiwick. Further to the Sanctions Notice issued on 24th September 2014 about United Nations listings for 14 individuals and 2 entities associated with extremist groups in Iraq and Syria, these individuals and entities have now been added to the list maintained by...

The Commission is today issuing Instruction Number 05/2014 for Financial Services Businesses and Prescribed Businesses, copies of which can be accessed on the FC&A section of the Commission’s website: Instruction No. 05/2014 for Financial Services Businesses and Instruction No. 05/2014 for Prescribed Businesses 7 October 2014

​Please be advised that on 23 September 2014 the United Nations Security Council added the names of 14 individuals and 2 entities to the list of persons involved with the Islamic State group and other bodies associated with Al-Qaida which is maintained under United Nations Security Council Resolution 1267. The individuals are as follows: Ahmed Abdullah Saleh al-Khazmari al-Zahrani Azzam Abdullah...

​Please be advised that some amendments by the Council of the European Union to the sanctions measures in place regarding the Territorial Integrity etc. of the Ukraine and the Russian Federation have been published today with immediate effect. These amendments, which have direct effect in the Bailiwick, are as follows; Territorial Integrity etc. of the Ukraine Council Regulation (EU) No 269/2014...

​The regulatory laws provide that a licence or registration application shall contain or be accompanied by such other information or documents as the Commission may reasonably require, for the purpose of determining the application. Business Risk Assessments (“BRAs”) The Financial Action Task Force (“FATF”) 2012 Recommendations (“the Recommendations”) place even greater emphasis on the importance...