Jersey’s Ongoing Programme of NATIONAL RISK ASSESSMENTS [NRAs]

Jersey conducts National Risk Assessments to identify, understand, and mitigate risks of money laundering, terrorist financing, and proliferation financing as an international finance centre, and to ensure a targeted, proportionate, risk-based response aligned with FATF standards.

• The assessments inform policy development, supervision and firms’ own risk assessments, helping the industry to target resources and controls where they are most needed.
• Several of these have already been published since 2020, covering various sectors. 
• Building on this approach, it has been reported by Jersey Finance that Jersey is now planning a programme of National Risk Assessments through to the next MONEYVAL evaluation, ensuring risks continue to be identified, assessed, addressed and managed on an ongoing basis. 
• This programme sits alongside the government’s competitiveness programme to support growth throughout the industry. 

 What This News Update Means: Jersey’s Ongoing Programme of National Risk Assessments

• Jersey has conducted National Risk Assessments (NRAs) for several years as part of its strategy to prevent money laundering, terrorist financing, and proliferation financing.
• These NRAs are essential for understanding the island’s risk exposure as an international finance centre and ensuring compliance with FATF standards.

Below is a breakdown of the key elements of the update you saw, along with what the latest publicly available information tells us.

1. Jersey’s Long-Standing Use of National Risk Assessments

Jersey’s NRAs are not new; they are part of a continuous programme dating back at least to 2019, involving collaboration between:

• The Government of Jersey
• The Jersey Financial Services Commission (JFSC)
• Law enforcement agencies
• Industry and non-profit stakeholders

These assessments map Jersey’s money-laundering and terrorist-financing risks and enable authorities and industry to tailor controls accordingly. [jerseyfsc.org]

Earlier NRAs, [full list below] such as the 2020 National Risk Assessment of Money Laundering, laid the foundation for risk-based policymaking and required industries to apply NRA findings to their internal risk assessments. [gov.je]

The most recent PF and VASP assessments (2024–2025) confirm Jersey continues to expand and update its NRA suite ahead of the next MONEYVAL evaluation.

2. Purpose of the National Risk Assessment Programme

The NRAs help Jersey:

• Understand systemic money laundering, terrorist financing, and proliferation financing risks
• Strengthen policy and regulation
• Improve the effectiveness of supervision
• Ensure firms align their risk frameworks with national priorities

Relevant firms in Jersey are legally required under the Money Laundering (Jersey) Order 2008 to take these identified risks into account when designing their AML/CFT controls.

This ensures that Jersey’s industry deploys its compliance resources effectively, improving overall resilience across the jurisdiction.

3. Jersey’s Reported New Programme Through to the Next MONEYVAL Evaluation

The update you read refers to a newly planned programme of NRAs that will run up to Jersey’s next MONEYVAL evaluation. Although this forward-looking programme itself does not yet appear in formal government releases, it is consistent with:

• MONEYVAL’s expectations that jurisdictions adopt ongoing risk‑identification frameworks.
• Jersey’s own strong performance in the 2024 MONEYVAL Mutual Evaluation Report, which praised the island’s deep understanding of ML/TF risks and its production of “high‑quality, comprehensive and detailed risk assessment products.”

Given Jersey's high effectiveness rating and its commitment to continuous improvement, it is plausible and consistent that Jersey Finance would report a programme of NRAs being planned ahead of the next evaluation cycle.

4. Connection With Jersey’s Competitiveness Programme

The update also notes that the NRA programme complements the government’s competitiveness agenda.

This aligns with statements by Jersey Finance and the JFSC following the 2024 MONEYVAL evaluation, where both emphasised that maintaining high AML/CFT standards is essential for:

• Market confidence
• International reputation
• Long-term economic growth

The MONEYVAL 2024 report and industry responses underscore that strong financial crime controls are part of Jersey’s strategy to remain a leading international finance centre.

Full List of Jersey National Risk Assessments (NRAs) With Publication Dates

Below is the full, verified list of all National Risk Assessments (NRAs) currently published in Jersey, including VASPs, Legal Persons, NPOs, Money Laundering, Terrorist Financing, and Proliferation Financing, with publication dates and citations from official Government of Jersey, JFSC and Comsure sources.

1. Money Laundering NRAs

• National Risk Assessment: Money Laundering (2020) = Published September 2020 – Jersey’s first comprehensive ML NRA. [gov.je]

• National Risk Assessment: Money Laundering (2023) = Listed in Government and JFSC publications as part of the NRA suite. [

2. Terrorist Financing NRAs

• National Risk Assessment: Terrorist Financing (2021) = Published April 2021, first TF-specific NRA.  

• National Risk Assessment: Terrorist Financing (2023) = Update to the TF NRA, listed as part of Jersey’s continuing NRA programme.  

3. Proliferation Financing (PF) NRA

• National Risk Assessment: Proliferation Financing (2025) = Published 29–30 April 2025, Jersey’s first PF NRA.Assesses PF risk as Medium‑Low.  , [jerseyfsc.org]

4. Non-profit organisations (NPOs) NRAs

• National Risk Assessment: Non-Profit Organisations (2021) = Published in 2021, the first NRA assessing NPO TF vulnerability.Risk level: Medium to Low overall; ~11% higher risk. [gov.je]

• National Risk Assessment: Non-Profit Organisations (2022) = Published April 2022.Updated assessment confirming sector risk levels and TF vulnerabilities.  

5. Legal Persons & Legal Arrangements NRA =

• National Risk Assessment: Legal Persons & Arrangements (2023)=Published July 2023.Covers 11 types of legal entities/arrangements; assesses ML/TF risks across companies, partnerships, trusts, foundations, etc.

6. VASP / Virtual Assets NRAs

• Virtual Asset Service Providers – National Risk Overview (2022) = Published June 2022, the first VA/VASP risk overview before full NRA.

• National Risk Assessment: Virtual Asset Service Providers (2024) = Published 17 May 2024.Risk Level: Medium‑High inherent ML/TF/PF risk, Medium mitigation.

In Summary

What you read is entirely consistent with Jersey’s established strategic direction:

• Jersey conducts ongoing National Risk Assessments to understand and mitigate financial crime risks.
• These NRAs support policy‑making, supervision, and firms’ own AML/CFT risk frameworks.
• Published NRAs (e.g., 2020–2025) already cover multiple sectors, and more are being planned to support the next MONEYVAL review cycle.
• MONEYVAL has praised Jersey’s risk understanding and coordination, reinforcing the importance of continuing NRA work.
• The programme ties directly into Jersey’s wider competitiveness and financial‑crime strategy, underpinning the jurisdiction’s global standing.

Sources

• [comsuregroup.com][gov.je],   [gov.je], [jerseyfsc.org] [jerseyfsc.org][coe.int]
• [jerseyfinance.com], [jerseyfsc.org][coe.int][jerseyfsc.org]