MONEYVAL publishes a report on Guernsey

MONEYVAL publishes a report on Guernsey
 
Moneyval have urged the United Kingdom’s Crown Dependency of Guernsey to increase the penalties which can be applied to financial institutions in this area.
 
Further progress is needed in the number of investigations, prosecutions and convictions concerning money laundering and the financing of terrorism, and the use of restraint and confiscation orders could also be improved.
 
Overall, however, Guernsey has a mature legal and regulatory system, which has been enhanced by the introduction of modern legislation covering all important aspects of the finance industry.
 
 
 
 

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