JFSC identifies two firms with possible AML failings

News Team, 13/09/2023

An examination of the regulatory measures and documentation protocols implemented by eight non-profit organisations (NPOs) in Jersey, concerning donations exceeding £10,000, revealed that the majority had effectively minimised the risk of funds being diverted for unlawful purposes.

However, it was discovered that only two of these NPOs were unable to provide evidence of thorough scrutiny to ensure that all contributions were received and utilised entirely in alignment with...

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