As part of the Bailiwick of Guernsey's long-term commitment to preventing and eliminating money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction (financial crime), a National Strategy has been published.
The Bailiwick of Guernsey's long-term commitment to preventing and eliminating financial crime has been reflected in its determination to keep abreast of and implement relevant international standards, principally those of the Financial Action Task Force (FATF). For more than 20 years the Bailiwick has committed itself to meeting the FATF standards.
Guernsey, Alderney and Sark liaise closely. This is underpinned by the fact the Policy & Resources Committee, the Committee for Home Affairs, and the Committee for Economic Development of the States of Guernsey; the Policy & Finance Committee of the States of Alderney; and the Policy & Finance Committee of the Chief Pleas of Sark are jointly issuing the National Strategy.
The National Strategy includes:
- a vision;
- a risk assessment and risk appetite statement; and,
- a description of the Bailiwick's strategic priorities (pillars) for the implementation of the FATF standards.
The vision provides the overall direction of travel while the risk appetite defines what risks are acceptable and which are not. Together, the vision and the risk appetite inform the strategic pillars.
The National Strategy is available as a PDF on this page.
