Guernsey Financial Crime Risk Return 2021 – Start Preparing For 31 October 2021
14/07/2021
The Financial Crime Risk Return (the “FCRR”) for the reporting period 1 July 2020 to 30 June 2021 will be available for completion on the Online Submissions Portal on 13 July 2021.
The submission deadline is 31 October 2021.
Following the Commission's previous announcements and after consultation with industry, updates made to the 2021 FCRR include:
- Additional reporting on suspicious activity and tax related disclosures;
- Further information on AML/CFT governance and compliance arrangements;
- Controls for identifying PEP connections, adverse media and sanctioned parties;
- Additional information on periodic risk reviews; and
- Revised geographical data in relation to customers.
A list of new questions has been included within the guidance document.
All firms required to complete the FCRR should consult the guidance document prior to completing the 2021 FCRR to ensure the correct data is provided.
Information will be circulated to prescribed businesses next week regarding the additional information to be reported in the 2022 FCRR.
Should you have any queries regarding how to complete the FCRR, please consult the guidance document in the first instance, prior to emailing amlcft@gfsc.gg
https://www.gfsc.gg/news/financial-crime-risk-return-2021
https://www.gfsc.gg/sites/default/files/2021-07/20210708%20-%202021%20FCRR%20Guidance.pdf
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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.