Guernsey remains committed to meeting the Financial Action Task Force standards on Anti Money Laundering (AML) and Combating the Financing of Terrorism (CFT). Accordingly, the Bailiwick of Guernsey has developed robust and effective mechanisms in order to ensure its financial systems and wider economy is protected from the threats of money laundering and financing of terrorism.
Guernsey has in place the relevant legislation which obliges all beneficial owners of Guernsey companies and other legal persons to be properly identified and recorded. Guernsey also regulates trust and company service providers (CSPs), this regime ensures that all CSPs are fit and proper, having in place appropriate policies and procedures with respect to AML/CFT and are subject to regular inspections by the Guernsey Financial Services Commission. Bearer shares are also prohibited for Guernsey companies.
The legislation contains some extra requirements for internationally active charities and NPOs, that is, those which raise and/or distribute assets/funds outside the Bailiwick. Guidance specific to internationally active charities and NPOs is contained in Part VI INTERNATIONALLY ACTIVE CHARITIES & NPOS of the Frequently Asked Questions document https://www.guernseyregistry.com/CHttpHandler.ashx?id=152952&p=0. Please refer to FAQ 7 for a definition of international activity. Please be aware however that the other FAQs are also relevant to internationally active charities and NPOs (see in particular the FAQs about records, financial controls and risk mitigation measures).
The Guernsey National Risk Assessment has been finalised and released. The National Risk Assessment demonstrates an ongoing commitment to fight terrorist financing, money laundering and financial crime. Further information can be found on the States of Guernsey website here: Money Laundering and Terrorist Financing NRA
For further information and links please see the International Affairs section on the States of Guernsey website here: International affairs
For further information and links regarding Guernsey's 'National Strategy for combatting money laundering, financing of terrorism and financing of proliferation of weapons of mass destruction', please see the following link here: National Strategy for Combatting Money Laundering, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction - States of Guernsey (gov.gg)