BVI is FATF grey-listed – in Jersey, you cannot rely on CDD exceptions
17/06/2025
On 13th June, the FATF updated statements on ‘high-risk and other monitored jurisdictions (’GREY LIST)
- Removed:
- Croatia,
- Mali, and
- The United Republic of Tanzania
- ADDED
- Bolivia and
- The Virgin Islands (UK)
In Jersey, if a customer is a resident in a country not compliant with the FATF Recommendations, you cannot rely on CDD exceptions.
In Jersey, Part 3A of the Money Laundering Order provides exemptions from CDD requirements that apply in some strictly limited circumstances, as set out in Articles 17B - D and 18 of the Money Laundering Order.
However, Article 17A of the Money Laundering Order provides circumstances in which exemptions under Part 3A do not apply. See the table below:
SOURCE
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.