JERSEY - lending by a local lender to a borrower is considered a low-risk financial services business
02/09/2025
The Proceeds of Crime (Low Risk Financial Services Business) (Jersey) Amendment Order 2025 introduces provisions that classify LENDING ACTIVITY as "low risk," thereby exempting them from specific anti-money laundering (AML) and countering the financing of terrorism (CFT) obligations under the Money Laundering (Jersey) Order 2008.
LENDING Activities joins director services, Crown and Anchor gambling, and withdrawable share capital transactions by the Channel Islands Co-operative Society Limited are already listed as low-risk under the 2024 Order –
Lending Activity as Low Risk
The designation of low-risk activities is made under Article 36(7) of the Proceeds of Crime (Jersey) Law 1999.
While the full text of the 2025 amendment is not yet publicly consolidated, the 2024 Order (which the 2025 amendment builds upon) outlines the framework for such exemptions (see law below):
- Please note these exemptions are conditional and do not remove obligations such as:
- Registration with the Jersey Financial Services Commission (JFSC).
- Submission of Suspicious Activity Reports (SARs).
- Provision of information upon request by the JFSC
- Sanction risks and monitoring
Also, the activity of lending by a local lender to a borrower is considered a low-risk financial services business only if all specified conditions are met (see below).
To see what the Order says, read below
https://www.jerseylaw.je/laws/enacted/PDFs/RO-050-2025.pdf
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.