Guernsey: Report on Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

International Monetary Fund

No 2011/013, IMF Staff Country Reports from International Monetary Fund

Abstract: Bailiwick of Guernsey has a Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) legal framework that provides the basis for an AML/CFT regime. It has a program to review and enhance AML/CFT legislation and monitor effectiveness of compliance with the AML/CFT regime. Assessors found that confiscation and provisional measures within Bailiwick are robust. They also found that previous designation mechanisms had a negative impact on the effectiveness of the mutual legal assistance system. The assessors recommended to enhance the requirements for the freezing and confiscation of terrorist assets, and also provided guidance.

Keywords: ISCR; CR; authority; financial institution; Bailiwick authority; Guernsey extradition regime; law enforcement authorities; GFSC authority; extradition regime; Money laundering; Anti-money laundering and combating the financing of terrorism (AML/CFT); Legal support in revenue administration; Terrorism financing; Financial sector (search for similar items in EconPapers)
Pages: 22
Date: 2011-01-14
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=24566 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2011/013

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().