Guernsey's Ministry of Finance published an update following the Bailiwick of Guernsey’s MONEYVAL evaluation, reporting that the jurisdiction was assessed as compliant with Financial Action Task Force (FATF) standards for anti-money laundering and combating the financing of terrorism (AML/CFT), including measures against proliferation financing, and has been placed into “regular follow-up”. MONEYVAL awarded pass ratings in six of the 11 Immediate Outcomes used to assess effectiveness and found technical compliance with all 40 FATF Recommendations. The update also highlighted reforms undertaken during the political term to support the evaluation, including new and amended legislation, the formation of the Economic & Financial Crime Bureau, establishing both the Economic & Financial Crime Bureau and the Financial Intelligence Unit as statutory authorities, creating a financial crime centre at Marie Randall House funded from the Seized Asset Fund, an overhaul of the Guernsey Registry IT system to improve reporting relevant to FATF standards, and further IT and case-management upgrades supporting the criminal justice framework.
Ministry of Finance (Guernsey) 2025-02-11
Guernsey's Ministry of Finance confirms MONEYVAL puts the Bailiwick in regular follow-up after passing all 40 FATF Recommendations
Guernsey's Ministry of Finance reported compliance with FATF standards for anti-money laundering and combating terrorism, following a MONEYVAL evaluation. The update noted pass ratings in six of 11 Immediate Outcomes and technical compliance with all 40 FATF Recommendations. Reforms included new legislation, statutory authorities, and IT system upgrades to enhance compliance and reporting.