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The Jersey Criminal Offences Confiscation Fund (COCF) uses dirty money for good deeds

24/11/2024

The Criminal Offences Confiscation Fund (COCF) in Jersey was established under Article 24 of the Proceeds of Crime (Jersey) Law 1999.

The fund is designed to manage and utilise the proceeds recovered from criminal activities. Here are some key points about the COCF:

  1. Purpose: The COCF holds and manages funds confiscated from criminals.
    • These funds can support law enforcement activities, crime prevention programs, and other initiatives aimed at reducing crime and supporting victims.
  2. Sources of Funds: The COCF receives money from various sources, including:
  3. Usage of Funds: The funds in the COCF are allocated to various projects and initiatives. For example, they have been used for:
  4. Recent Developments: The COCF has seen significant inflows from successful legal actions. For instance,  
    • The Truk Settlement is a notable case involving confiscating assets linked to organised crime. It is the most significant successful application under the 2018 Forfeiture of Assets Law, which was concluded in 2019. More than US$10 million was paid into Jersey's Criminal Offences Confiscation Fund (COCF). The case is outlined below.
    • Ian Joseph Ellis, a taxi driver from Glasgow, was involved in a notable case of tax evasion and money laundering.  In the case of Ian Joseph Ellis, the amount seized was £33,804.52. This sum was held in a dormant account at Standard Chartered Bank in Jersey and was confiscated due to its connection to tax evasion and money laundering activities.

SOURCE

JERSEY MONEY LAUNDERING

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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.