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🚨 IMPORTANT UPDATES🚨 shared crucial insights on the regulatory framework for DNFBPs and VASPs.

03/11/2024

Yesterday [October 23rd], the JFSC, FIU Jersey, and the Jersey Government shared crucial insights on the regulatory framework for DNFBPs and VASPs. 

Here’s what you need to know. 

Upcoming thematic assessments in 2024/25:

• Q4 2024: 🔍

  • JFSC Thematic on Legal Sector (BRA, AML Strategy, CRA) 📅

• Q1 2025: 🔍

  • Outsourcing and
  • Conflicts of Interest

If you want to discuss any of these topics, please call Comsure.

Don't forget to check out the JFSC Bitesize guidance on financial crime training! 📚

1. JFSC Bitesize feedback: Designated non-financial businesses and professions - financial crime training and awareness

2. JFSC Bitesize feedback: Real estate agents - financial crime training and awareness

Rember Comsure has comprehensive AML/CFT/CPF training programmes, including online effectiveness testing, that address all the JFSC findings.

Have you completed your gap analysis on the JFSC following reports? 

1. JFSC 2023 virtual asset service providers’ suspicious activity reporting systems and controls examination feedback

2. JFSC 2023 Countering the financing of terrorism and proliferation financing examination feedback

And if you are a “LOW-RISK DIRECTOR”, remember you still have numerous responsibilities that include but are not limited to:- conducting business risk assessments, client risk assessments, customer due diligence, suspicious activity reporting, and training.

Let’s connect and discuss how Comsure can support your compliance journey!

📩 YES@COMSUREGROUP.COM

📞 +44 1534 733-588 OR +44 7797 747 490

🌐 www.COMSUREGROUP.COM

What are your thoughts on these updates? Share below! 👇

#JFSC #FIU #DNFBPs #VASPs #AML #Compliance #FinancialCrime #Training #RegulatoryFramework #ThematicAssessments #Outsourcing #ConflictsOfInterest #Jersey #Comsure #GapAnalysis #FinancialServices

JERSEY COMSURE SERVICES

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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.  

news disclaimer -

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.