Jersey’s AML budget is £1.8m [PA] and will employee 29 additional AML employees
28/09/2022
The Government of Jersey published [27 September 2022] its most recent National Strategy and action plan, Statement on Activities, Risk Appetite and mitigation in this area which details how the Island will demonstrate this commitment.
In support of the vision, specific commitments are detailed in the Government of Jersey Plan 2022-25 and the 2021 Financial Services Policy Framework documents.
This strategy document builds upon these previously published commitments.
For these commitments, the Government approved additional ongoing funding of £1.8m per annum to enable further recruitment into four key areas:
- Government Financial Crime Strategy Team – An additional X5 Full-Time Equivalents (FTEs)
- Financial Intelligence Unit - additional 15 FTEs
- Jersey Financial Crimes Unit, Operational Unit - additional 3 FTEs
- Law Officers Department - additional 6 FTEs.
Additionally, the JFSC increased their headcount by 26 FTEs from 2020 to 2021, funded by the industry it supervises.
The JERSEYGOV and all authorities are committed to regularly reviewing the adequacy of funding and will recommend increases where required.
Documents to read below.
- National Strategy for AML,CFT,CPF
- https://lnkd.in/e2D9Dnah
- https://www.gov.je/SiteCollectionDocuments/Crime%20and%20justice/R%20National%20Strategy%20for%20Combatting%20Money%20Laundering.pdf
- Executive Summary - National Strategy for AML,CFT,CPF
- https://lnkd.in/eprfw8hd
- https://www.gov.je/SiteCollectionDocuments/Crime%20and%20justice/R%20Combatting%20Money%20Laundering%20Executive%20Summary.pdf
- Statement - Activities, Risk Appetite and Mitigation
- https://lnkd.in/ex6CM9uA
- https://www.gov.je/SiteCollectionDocuments/Crime%20and%20justice/R%20Financial%20Crime%20Risk%20Appetite.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.