Enhancing how we fight and prevent crime

Fighting financial crime remains a primary focus for us. Being the regulator of a hugely important global financial services centre means that our work in this area must adapt and evolve, in order to stay ahead of the threat of money laundering and terrorist financing.

Building on the work in 2020 and previous years, this year we will continue to develop the ways in which we endeavour to fight financial crime so that we can protect and maintain Jersey’s reputation as a hostile environment for money laundering.

With the Island’s next MONEYVAL assessment rapidly approaching, we will keep playing our part and prioritising this critical work so the Island meets the necessary international standards for countering financial crime. But our substantial efforts in this area go beyond the assessment. They are for the longer-term, to ensure that we can tackle the threat over a prolonged period in order to maintain Jersey’s international reputation.

With this in mind, 2021 we will see us progress our extensive Financial Crime Prevention Programme, which over the next 12 months will specifically focus on the following areas:

• Building on our 2020 work to implement the FATF Recommendations and enhance Jersey’s AML/CFT regime
• Moving forward with our preparation work for the MONEYVAL assessment, making sure that the Island is in the best possible place to achieve the gold standard
• Delivering technical changes and enhancements to our regulatory regime, for example working
  with the Government to reform the Money Laundering Order
• Proving how effective we are at supervising Jersey’s finance industry.