Jersey : Financial Sector Assessment Program Update: Detailed Assessment of Observance of AML/CFT.

Format:

Book

Government document

Author/Creator:

International Monetary Fund.

Contributor:

International Monetary Fund, Contributor.

Series:

IMF Staff Country Reports; Country Report ; No. 2009/280

IMF Staff Country Reports

Language:

English

Physical Description:

1 online resource (330 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2009.

Language Note:

English

Summary:

Jersey has put in place a comprehensive and robust Antimoney Laundering/Combating the Financing of Terrorism (AML/CFT) legal framework with a high level of compliance with almost all aspects of the Financial Action Task Force recommendations. The paper discusses a Detailed Assessment of Observance of AML/CFT report on Jersey. Both money laundering and financing of terrorism are criminalized largely in line with the international standard, and Jersey has implemented the provisions effectively.

Contents:

Cover; Contents; Acronyms; Preface; Executive Summary; 1. General; 1.1. General Information on Jersey; 1.2. General Situation of Money Laundering and Financing of Terrorism; 1.3. Overview of the Financial Sector; Statistical Tables; 1. Jersey-Financial Activity by Type of Financial Institution-December 31, 2008; 1.4. Overview of the DNFBP Sector; 2. Jersey-Designated Non-Financial Businesses and Professions-December 31, 2008; 1.5. Overview of commercial laws and mechanisms governing legal persons and arrangements; 1.6. Overview of strategy to prevent money laundering and terrorist financing

2. Legal System and Related Institutional Measures2.1. Criminalization of Money Laundering (R.1 & 2); 2.1.1. Description and Analysis; 2.1.2. Recommendations and Comments; 2.1.3. Compliance with Recommendations 1 & 2; 2.2. Criminalization of Terrorist Financing (SR.II); 2.2.1. Description and Analysis; 2.2.2. Recommendations and Comments; 2.2.3. Compliance with Special Recommendation II; 2.3. Confiscation, freezing and seizing of proceeds of crime (R.3); 2.3.1. Description and Analysis; 2.3.2. Recommendations and Comments; 2.3.3. Compliance with Recommendation 3

2.4. Freezing of funds used for terrorist financing (SR.III)2.4.1. Description and Analysis; 2.4.2. Recommendations and Comments; 2.4.3. Compliance with Special Recommendation III; 2.5. The Financial Intelligence Unit and its Functions (R.26); 2.5.1. Description and Analysis; 2.5.2. Recommendations and Comments; 2.5.3. Compliance with Recommendation 26

2.6. Law enforcement, prosecution and other competent authorities-the framework for the investigation and prosecution of offenses, and for confiscation and freezing (R.27, & 28) ............................................................................2.6.1. Description and Analysis; 2.6.2. Recommendations and Comments; 2.6.3. Compliance with Recommendations 27 & 28; 2.7. Cross Border Declaration or Disclosure (SR.IX); 2.7.1. Description and Analysis; 2.7.2. Recommendations and Comments; 2.7.3. Compliance with Special Recommendation IX; 3. Preventive Measures-Financial Institutions

3.1. Risk of money laundering or terrorist financing3.2. Customer due diligence, including enhanced or reduced measures (R.5 to 8); 3.2.1. Description and Analysis; 3.2.2. Recommendations and Comments; 3.2.3. Compliance with Recommendations 5 to 8; 3.3. Third Parties And Introduced Business (R.9); 3.3.1. Description and Analysis; 3.3.2. Recommendations and Comments; 3.3.3. Compliance with Recommendation 9; 3.4. Financial Institution Secrecy or Confidentiality (R.4); 3.4.1. Description and Analysis; 3.4.2. Recommendations and Comments; 3.4.3. Compliance with Recommendation 4

3.5. Record keeping and wire transfer rules (R.10 & SR.VII)

Notes:

Description based upon print version of record.

Description based on publisher supplied metadata and other sources.

ISBN:

9786613731586

9781462387731

146238773X

9781452789811

1452789819

9781280890277

1280890274

9781451882636

1451882637

OCLC:

870947501