The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, known as MONEYVAL published its latest assessment this morning, stating that Jersey has significantly strengthened its legal and regulatory system to combat financial crime. The report is the culmination of a two-year period of assessment and a peer review process, following a visit from MONEYVAL in 2023.

MONEYVAL has commended Jersey for its robust anti-money laundering (AML) and counter-terrorist financing (CFT) measures. In particular Jersey has been praised for its accuracy and transparency of beneficial ownership information for legal persons and arrangements. In respect of risk understanding and national co-operation and co-ordination, Jersey reaches a level of effectiveness that is among the highest jurisdictions worldwide. This high level rating demonstrates that Jersey can comprehensively manage and mitigate the risks it faces as a globally important financial centre. 

The report recognises Jersey’s commitment to complying with international standards and states that no “fundamental improvements” need to be made to Jersey’s current regime as the jurisdiction was largely compliant with 39 out of 40 recommendations.

The publication acts as a huge endorsement of the high standards Jersey holds itself to as a world-leading international finance centre.