IMF take another look at how Island is ‘plugging the gaps’

JERSEY’S finance industry will come under scrutiny again from the International Monetary Fund next year.

The European authorities want to know what Jersey has done to improve its anti-money-laundering capabilities
The European authorities want to know what Jersey has done to improve its anti-money-laundering capabilities

JERSEY’S finance industry will come under scrutiny again from the International Monetary Fund next year.

Inspectors working on behalf of the IMF will focus on Jersey to see what the Island has done to plug gaps previously identified in its anti-money-laundering armoury. The Council of Europe has agreed to appoint a body named Moneyval to carry out a review of Jersey, Guernsey and the Isle of Man on behalf of the international community. The IMF team carried out a wide-ranging assessment of anti-money-laundering and counter-terrorist financing measures in the Island that was published in 2009.

As part of the assessment, the inspectors looked at how well the Island complied with 49 recommendations laid down by what is known as the Financial Action Task Force, an inter-governmental body responsible for developing and promoting policies designed to combat money laundering and terrorist financing.

Full story in Wednesday's JEP

Register/Log in

Enjoying Jersey’s premium content?
Simply register with us or log in below to enjoy more complimentary stories.

Registering also gives you access to Jersey’s biggest discussion forum, where you can debate the big issues of the day with fellow members. JEP Extra members will have free access to the site by registering the same email address as your JEP Extra account.

 
Thank you!

Please check your email inbox and follow the simple instructions to continue enjoying our content.

More Stories

Comments for: "IMF take another look at how Island is ‘plugging the gaps’"

Bean Abroad

Yawn. Yet another review of our regulatory framework by an outside body, more interested in pointing out the deficiences in our regime rather than their own. Mighr want to check your own back yard before commenting on ours?

CP

They'd be better off getting their own house in order first. If EU controls where up to the task, the money would never reach Jersey- passing through London.

Welcome

Do you appreciate a good story? We certainly do and that’s why Jersey’s most visited news and information website now gives you more.

Enjoy a selection of free premium stories a month, after which you can subscribe for the special introductory price of just 99p*.

JEP Extra members will have free access to the site by using the same email address you use for your JEP Extra account when asked to register.

Learn More
*Normal price 99p for the first month, then £4.99 thereafter.
Thank you!

Thanks for registering.

You can now enjoy a further three complimentary stories this month, after which you can continue enjoying unlimited access by subscribing for special launch price of 99p*

Your log-in name and password also allow you to join Jersey’s biggest comment and discussion forum.

Learn More
*Normal price 99p for the first month, then £4.99 thereafter.
Thank you!

Thanks for registering.

As a valued JEP Extra member and as part of your existing subscription we are pleased to offer you free and unlimited access to our website.

Your log-in name and password also allows you to join Jersey’s biggest comment and discussion forum.

Learn More