Regulation
Jersey’s regulatory environment is constantly evolving to protect its stakeholders and maintain the jurisdiction’s reputation as an international finance centre of excellence, with a robust regulatory framework and tax regulation that meets the highest international regulatory standards and transparency.
FATF & MONEYVAL
The Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog. It makes recommendations which, if implemented and followed, combat the misuse of financial systems. Initially, these recommendations were aimed at the laundering of drug money, but this has been revised to reflect evolving money laundering trends and to deal with specific issues such as:
- organised crime
- corruption
- terrorism
They also help authorities go after the money of criminals dealing in illegal drugs, human trafficking and other crimes. The FATF also works to stop funding for weapons of mass destruction.
The 40 recommendations have been endorsed by over 200 countries and jurisdictions. They are universally accepted to set the international standard for anti-money laundering (AML) and countering the financing of terrorism (CFT). The Government of Jersey’s FATF and MONEYVAL page provides more detail.
MONEYVAL is the Committee of Experts which evaluates AML and CFT measures within Europe. It does so by first assessing compliance with the international standards (including the FATF Recommendations) and then reviewing the effectiveness of their implementation.
Visit the Government of Jersey’s FATF and MONEYVAL page for more information.
