Compliance

 

There is world wide pressure for Jersey businesses to play their part in the fight against money laundering and the financing of terrorism.  The States of Jersey have passed legislation including the Proceeds of Crime (Jersey) Law 1999, and the Money Laundering (Jersey) Order 2008 ("the Laws") and have given responsibility for the enforcement of these laws and regulations to the Jersey Financial Services Commission ("the JFSC").

 

Businesses within the finance industry are obliged to register with the JFSC and introduce robust policies and procedures ensuring they know their clients and in particular their clients' source of wealth.  However all businesses are obliged to consider money laundering and the source of funds as part of their daily routines and at Iresons we can brief you and your staff on your responsibilities under the Laws.

 

Systems need to be designed, implemented and tested and once live, regular monitoring must take place and reports made to senior management.  Very often the implementation and on going testing of these new systems is costly in manpower terms.  At Iresons we have experience which can help, from training staff to devising and checking new procedures. Why not call us and see if we can help?