JerseyJersey’s Minister for External Relations and Financial Services issued an order amending the Sanctions and Asset-Freezing (Jersey) Law 2019 to enable Jersey to continue implementing sanctions and asset-freezing measures in accordance with UK law following the UK’s exit from the European Union.
Jersey passed the Sanctions and Asset-Freezing (Amendment of Law and Order) Order 2023 which expands on the definition of financial services to include virtual currency exchange businesses and adds virtual assets to the list of economic resources subject to sanctions.
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The Jersey Financial Services Commission issued a £498,000 civil money penalty against the Jersey branch of the London-based financial institution for anti-money laundering breaches related to one correspondent banking relationship.
The Royal Court of Jersey issued a judgment imposing a fine of £550,000 against the St. Helier, Jersey-based company for two breaches of Article 37(4) of the Proceeds of Crime (Jersey) Law 1999 and the related regulations.
| Technical | Effectiveness |
|---|---|
| Compliant : 16 | High : |
| Largely Compliant : 28 | Substantial : |
| Partially Compliant : 5 | Moderate : |
| Non-Compliant : 0 | Low : |
| Not-Applicable : 0 |
| Rank : N/A |
| Score : N/A |
| Rank : N/A |
| Score : N/A |
| Rank : 16/133 |
| Score : 66/100 |