MONEYVAL publishes Mutual Evaluation Report for Jersey

Measured against the 40 FATF AML/CTF Recommendations, the MER found:

• There has been increased use of FIU analytical reports and other intelligence to initiate ML and predicate offences investigations in Jersey;
• Jersey’s approach and actions on AML/CTF are mostly aligned with the Jersey’s risks and context, with the possible exception of tax crimes;
• National co-ordination and co-operation between agencies on AML/CFT issues, and the private sector awareness of NRA results are effective;
• Jersey has appropriate mechanisms in place for the identification, investigation and prosecution of TF;
• Jersey implements TF-related and PF-related targeted financial sanctions TFS without delay, but improvement can occur regarding the supervision with TFS requirements.

Firms with operations in or exposure to Jersey should review the MER as to remain up-to-date with Jersey’s progress in AML/CTF and areas recommended for focused improvement.