Jersey regulator fines three firms for breaching money laundering rules

clock • 1 min read

Jersey Financial Services Commission (JFSC) has issued fines to three Jersey-based financial companies for breaching regulations governing money laundering and financial crime, the regulator announced in a statement today. The JFSC issued civil financial penalties totalling more than £719,000 against the three SG Kleinwort Hambros-owned firms. The regulator cited an indequate monitoring of controls designed to prevent money laundering. While no evidence of enabling any financial crime was found, conerns were raised by the JFSC about staff resourcing for compliance work, failure to ...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.