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Jersey has embarked on a yearslong project to fundamentally reform the role, mission and capabilities of its financial intelligence unit to tackle cross-border illicit transactions more effectively, local officials announced. More than 250 compliance officers from local banks, trust and corporate services providers, investment funds and other companies gathered in the U.K. Crown Dependency's capital St. Helier on Tuesday to officially launch Financial Intelligence Unit–Jersey as an independent agency, seven months after the FIU split off from the States of Jersey Police. Ian Gorst, minister of External Resources and Treasury in Jersey, said Tuesday that the need for an autonomous...