Bennie Burger Shares Conference Takeaways

Bennie Burger , Senior Director of Risk & Compliance, recently made his debut as a speaker at the SIFS Economic Crime and Compliance Symposium, held in Jersey.  The annual conference is attended by professionals in the financial services, compliance and risk management sectors. It has become a key platform for regulatory, intelligence and best practices discussions, where experts come together to understand trends ranging from enhanced due diligence, anti-money laundering, leveraging AI, and open-source intelligence and regulatory evolution.

Bennie’s own session, hosted alongside Robert Mitchell from Xapien, was titled “Compliance as a Business Enabler: Best Practice in Undertaking EDD Intelligence and Source-of-Wealth Due Diligence”. They explored how enhanced due diligence, when executed intelligently, can unlock value far beyond regulatory adherence.

After delivering his own session and being part of the day’s discussions, Bennie has shared his key takeaways about how the compliance space will continue to develop at a rapid pace:

Bennie Burger Conference Top Tips:

Changing Regulatory Landscape: From Guidance to Intelligence The JFSC (Jersey Financial Services Commission) are planning updates to the AML/ CFT/ CPF Handbook for 2026. This is designed to make the handbook clearer, easier to use and better ongoing monitoring.

New Focus on Complex Structures: New rules require firms to identify and assess e.g. complex client structures. Firms must apply enhanced due diligence to these cases. Firms need to record the rationale behind their assessments and decisions. Firms must be able to demonstrate their capability to manage complex client structures.

Stronger Ongoing Monitoring: Maintain records of checks and evidence collected. Ensure ongoing due diligence to detect changes in client profiles. Regularly update and verify clients’ source of wealth and ownership details using evidence.

Nuanced Approach to PEPs: Domestic non-executive directors of state-owned entities:

Will not be automatically classified as Politically Exposed Persons (PEPs)Will only be treated as PEPs if other risk factors are present.

Technology and OSINT (Open Source Intelligence): Deepfake fraud risks are rising, making onboarding and ID checks riskier. Firms now use AI and public data to spot hidden risks, speed up verification and make smarter decisions.

Source of Wealth, From Proof to Story: Clearly explaining how a client gained their wealth, always supporting this story with relevant evidence, understanding not just the source-but how the wealth was built and ensuring everyone at the firm can explain the client’s wealth story.

Compliance as a Business Enabler: Compliance powered by intelligence: Helps firms make faster, better decisions, speeds up new client onboarding, builds market trust and enhances reputation, gives firms a competitive edge.

Jersey’s Momentum: Leading the Way: Jersey is positioning itself as a leader in responsible, AI-driven compliance innovation by: Implementing major handbook reforms and launching the new AI Council.

Bennie’s overall message to the business is clear: the enhancements planned for 2026 represent a significant turning point for the industry. The future of compliance lies in true intelligence, with EDD, Source-of-Wealth and ongoing monitoring now forming integral parts of a unified risk-intelligence framework.

This evolution will empower smarter decision-making and drive greater competitiveness across the financial sector.