Guernsey - Report on Observance of Standards and Codes-Fatf Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (Electronic book text)

This Report on the Observance of Standards and Codes for the FATF 40 Recommendations for Anti-Money Laundering (AML) and 9 Special Recommendations on Combating the Financing of Terrorism (CFT) was prepared by the Legal Department of the IMF1. The report provides a summary of the AML/CFT measures in place in the Bailiwick of Guernsey and of the level of compliance with the FATF 40+9 Recommendations, and contains recommendations on how the AML/CFT system could be strengthened. The assessment is based on the information available at the time of the mission from May 17, 2010 to June 1, 2010 and was conducted using the 2004 Assessment Methodology. The views expressed here, as well as in the full assessment report, are those of the assessment team and do not necessarily reflect the views of the Government of the Bailiwick of Guernsey or the Executive Board of the IMF.