Anti Money Laundering

This book is aimed at non-executive directors of Guernsey firms covered by the Criminal Justice (Proceeds of Crime) Regulations, either for financial services businesses or for legal professionals, accountants and estate agents. These Regulations place requirements on such firms to put in place policies and procedures to prevent and forestall money laundering and terrorist financing - and hold the directors of those firms responsible for ensuring that this is done to the required standard. It is essential that every director - whether executive or non-executive - is aware of the heightened requirements of Guernsey's AML/CFT regime, and of his specific responsibilities under the four tenets of that regime: customer due diligence, record-keeping, internal reporting, and staff training.