A delegation of the Council of Europe's Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) is carrying out an on-site visit to the United Kingdom Crown Dependency of Jersey from 27 September to 10 October 2023, as part of MONEYVAL’s 5th round evaluation round.
This mutual evaluation focuses on Jersey’s compliance with the Financial Action Task Force (FATF) international standards in the area of anti-money laundering, counter terrorist financing and counter proliferation financing (AML/CFT/CPF). It assesses both technical compliance with the international standards and the effectiveness of Jersey’s implementation of AML/CFT measures, as required under the 2013 FATF methodology as updated.
The assessment team is composed of experts with legal, financial and law enforcement experience, assisted by members of the MONEYVAL Secretariat.
During the opening day of the on-site visit, the assessment team met the Chief Minister of Jersey, Deputy Kristina Moore, and the Assistant Chief Ministers’ with responsibility for financial services, Deputy Elaine Millar and Deputy Ian Gorst. They also met with the Heads of all relevant agencies in Jersey and representatives of agencies who outlined the country’s commitment to combat money laundering, terrorism financing and financing of proliferation of weapons of mass destruction at the start of the on-site evaluation process.
During the visit, numerous meetings are scheduled with representatives of Jersey’s supervisory authorities, criminal justice system and the operational agencies involved in AML/CFT. The assessment team will also meet with representatives of the private sector (including banks, trust and company service providers, fund services businesses, lawyers, accountants, real estate agents, virtual casinos) and representatives of non-profit organisations.
The report will be considered for discussion and adoption by MONEYVAL in 2024.