The JFSC Consultation on proposed enhancements to the AML/CFT/CPF Handbook has been issued: 12 June 2025

The JFSC Consultation on proposed enhancements to the AML/CFT/CPF Handbook is out:-

• READ IT HERE - https://www.jerseyfsc.org/media/rbynfdur/consultation-on-proposed-enhancements-to-the-aml-cft-cpf-handbook.pdf

HERE ARE THE LINKS TO THE PROPOSED CHANGES

SUPERVISED PERSONS (LESS NPOs)

1. Handbook for financial services business and a tracked change version.  
1. https://jerseyfsc.org/media/h5ng1g0r/updated-handbook-tracked-changes.pdf
2.  https://jerseyfsc.org/media/f2adgchx/updated-handbook-clean-version.pdf
2. Matrix mapping the COP of the existing Handbook to the new version.  
1. https://jerseyfsc.org/media/gidlpc5z/cop-matrix-map.xlsx

NPO

1. CFT Handbook for Prescribed Non-Profit Organisations (NPO CFT Handbook).
1. https://jerseyfsc.org/media/ba1gxeik/npo-handbook-clean-version.pdf
2. Table mapping Section 17 with the new sections of the NPO CFT Handbook
1. https://jerseyfsc.org/media/40rpddzl/npo-handbook-mapping-table.pdf

Overview

1. This consultation paper (CP) seeks feedback on proposals to enhance
1. The JFSC Handbook is for the detection and prevention of money laundering, the countering of terrorist financing, and the countering of proliferation financing (Handbook).
2. There are two key drivers to the proposed enhancements covered within this CP:
1. Clarificatory changes as part of the JFSC, measured and proactive response to MONEYVAL Recommended Actions
2. Enhancements and improvements to the Handbook to improve usability and reduce time/effort in the application

MONEYVAL Recommended Actions (Handbook related only)

1. MONEYVAL Recommended Actions (Recommended Actions) were identified across all agencies, including the JFSC.
1. In November 2024, the JFSC issued the JFSC MONEYVAL Action Plan (Action Plan) detailing the response to the JFSC-related Recommended Actions.

1. 1. 1. https://www.jerseyfsc.org/media/7911/jfsc_moneyval-action-plan_final.pdf
   2. The Action Plan included several actions for which the understanding of and approach to complying with Handbook obligations were inconsistent.
2. This consultation is the JFSC's response to those actions through enhancements to specific, targeted sections of the Handbook.
3. The response outputs noted in 1.1.4 of the consultation are primarily clarificatory amendments to the Handbook.
   • 1.1.4 The Action Plan included several actions where the understanding of and approach to complying with Handbook obligations was inconsistent. This consultation is our response to those actions through enhancements to specific, targeted sections of the Handbook.
4. Having reviewed the relevant sections of the Handbook, the JFSC concluded that the required guidance was essentially already present.
5. However, as noted by the Recommended Actions, the industry could benefit from further refinement and clarification to avoid inconsistency in application.

Enhancements to improve clarity and usability

1. This process has provided an opportunity to streamline and improve the clarity of relevant sections of the Handbook, aiming to make it more accessible and thereby better support industry in complying with its obligations.
2. While the JFSC has drafted comprehensive enhancements to the Handbook, the JFSC is collaborating with industry to align, simplify and clarify expectations.
3. The JFSC also aims to leverage industry experience and working practices by incorporating existing actions and work already undertaken by industry into the guidance to reduce the operational impact of the proposed changes.

Any Additional Feedback

1. While this consultation is focused on specific sections of the Handbook, the JFSC welcome any additional feedback on improvements that could be made to the more exhaustive Handbook, as part of this consultation process.

Read the JFSC full consultation paper. https://www.jerseyfsc.org/industry/consultations/consultation-on-proposed-enhancements-to-the-amlcftcpf-handbook/