The Jersey Financial Services Commission (JFSC) has given non-profit organisations an extra week to report on their activities and procedures to allow their risk of being used for financial crime to be assessed.

Trust companies administering non-profit organisations must also submit the relevant information.

Organisations that do not comply could be considered higher-risk and be subjected to closer monitoring, the JFSC warned.

“We are very grateful to all non-profit organisations that we have already heard from in relation to our request for more information on their type of activities and procedures.