Jersey Committed to Global Fight Against Financial Crime

Tuesday 30 May 13:08

The Jersey Financial Crime Strategy Group (JFCSG) has agreed its priorities for 2017 to 2019, which include consideration of major policy and legislative changes for fighting financial crime in Jersey.

The JFCSG is responsible for coordinating the actions of the Island to mitigate the risk of financial crime and comprises the Island’s public sector organisations responsible for this work (see notes). The JFCSG fulfils this responsibility through coordination of risk assessments, ongoing review and development of financial crime policies and legislation, and appropriate risk-based application of resources.

The priority areas focus on the implementation of the 2012 Financial Action Task Force Recommendations and the 2015 Jersey MONEYVAL Mutual Evaluation report by the Council Europe (published in 2016). The MONEYVAL report recommended that the Jersey authorities consider enhancing the resourcing of financial crime, with a view to increasing the number of money laundering investigations and prosecutions in Jersey.

The JFCSG has undertaken an in-depth review of resources for law enforcement and prosecution authorities. As a result, the Council of Ministers approved budget increases for 2017 through to 2019 by £870,000 per annum from Central Contingencies. This will provide additional staff for the Joint Financial Crime Unit of the States of Jersey Police and Customs, as well as funding a new Economic Crime and Confiscation Unit, which will provide specialist complex case investigative capability within the Attorney-General's Department. These roles will specifically focus on significant economic crime risks to Jersey and there will be regular review of the effectiveness of the overall financial crime enforcement process in Jersey. 

Chair of the Jersey Financial Crime Strategy Group, Richard Corrigan, commented: “As a responsible international finance centre, Jersey remains committed to working with international organisations such as the FATF/MONEYVAL in the development and subsequent domestic implementation of international standards. Equally, due to further resources committed by Government, there will be a far greater focus on the effectiveness of investigation and prosecution of financial crime which is in the interests of the entire financial services industry.”

The HM Attorney General, Robert MacRae QC, added: “The establishment of the Economic Crime and Confiscation Unit will enable the Law Officers’ Department to focus even greater attention on the prosecution of financial crime. The resources dedicated to this new unit will ensure that Jersey strengthens its commitment to its international obligations and that the Island remains at the forefront of the fight against financial crime and money laundering.”

Chief Officer of States of Jersey Police, Mike Bowron QPM, said: “This increased investment in our JFCU and the development of an ECCU is welcome at a time of increased demand through industry engagement. These additional assets will continue to ensure working in partnership we rigorously assess and police potential financial crime.”


  • JeCC - External Render / EWI / Architectural Profiles Building Trust Into your External Facade by Pentagon Builders Merchants

    › read more
  • JeCC - BS7533 Compliant Hard Landscaping Paving the way to Success with Parex HardLandscaping by Pentagon Builders Merchants

    › read more
  • Jersey Electricity - Everything you wanted to know about heat pumps but were afraid to ask Want to know more about Heat Pumps, their application, how they fit with the new Building Bye Laws, what tariff is best?

    › read more
  • Market Fountain Unveiling Following a period of refurbishment, the market fountain which has been restored to its former glory will be unveiled by the Connétable of St Helier accompanied by the Minister for Infrastructure.

    › read more
  • WDF - Women as Team Players - sponsored by Santander Women as Team Players with Jennifer Moore – Yoga & Ironman Triathlon Sam Horsfall – Triathlon Coach and parkrun Jemima Leach and Helene Mon Petit – Island Games MBT Cycling Team

    › read more
  • Public Meeting: CIFO 2016 Annual Report The independent Channel Islands Financial Ombudsman (CIFO) is holding a public event to mark the publication of its 2016 annual report and accounts.

    › read more
  • Eco Active Business and BIFM sustainability event Have you booked your place at next week’s sustainability event?

    › read more
  • Is Your Business Autism-Friendly? Did you know more than one in 100 of your customers are autistic? Would you like to find out how you can make their experiences better?

    › read more
  • Benest Corbett Renouf Joins Forces With Farrer & Co to Reinforce Need for Safeguarding Children LAW firm Benest Corbett Renouf has teamed up with the market-leading London firm Farrer & Co to present a safeguarding conference. The event, “Creating Safer Organisations”, will take place on Thursday, 15th June in Jersey.

    › read more
  • Ibex Education - Excel 1 to 1s Our expert UK trainer will work with you on particular issues

    › read more

Chamber Knowledgebase

Our frequently asked questions

Chamber News 

All the latest news from Chamber in one monthly PDF

Jersey Airport / Harbours

The latest arrivals and departures, select a link above

The Jersey Chamber of Commerce - Annual Charity of Choice

the benefits of membership

Networking opportunities, including our popular luncheons
Topical seminar programme
Support and guidance on doing business in Jersey

And become one of over 500 member businesses supporting Chamber in its aim of ensuring that local business is at the heart of a thriving and diverse local economy.

Call 01534 724536
› About Chamber

Copyright © Jersey Chamber 2012 - The Jersey Chamber of Commerce welcomes your comments and views. However, the posting of comments is subject to our terms which can be read here. Comments posted by users of this site are not the Chamber's comments nor do they represent the views of the Jersey Chamber of Commerce.

↑ Back to top