25th June 2019
Lloyds Banking Group has frozen the Jersey-based accounts of approximately 8,000 offshore clients after they failed to submit identifying documents for three years, the Financial Times reported Sunday. The move was prompted by repeated requests for certified copies of identification records and other documentation that went unanswered for several years,… Read More
21st June 2019
Guernsey, Jersey and the Isle of Man committed on Wednesday to naming the individuals who own or otherwise control corporations operating in their jurisdictions as part of an effort to meet EU anti-money laundering standards. Beginning in 2021, the islands will interconnect corporate beneficial ownership registers with similar databases in… Read More
6th June 2019
Over $267 million has been seized from an account maintained for former Nigerian head-of-state Sani Abacha, according to the Bailiwick of Jersey. The funds, which have been transferred to Jersey’s Civil Asset Recovery Fund, were derived from corruption and laundered through the US banking system with aid of Abacha’s son… Read More
29th May 2019
Britain’s offshore territories the British Virgin Islands (BVI), Bermuda and the Cayman Islands were named in a study released on Wednesday as the most significant jurisdictions used by global companies to minimise their tax bills. Governments are stepping up efforts to recoup more tax from multinationals, with the European Commission… Read More
19th February 2018
Jersey’s Royal Court has registered two new laws aimed at enabling the free movement of data between Jersey and the European Union. The Data Protection (Jersey) Law 2018 and Data Protection (Authority) Jersey Law 2018 come into effect in May 2018. The rules will also enable law enforcement agencies… Read More
21st November 2017
BBC Assets totalling nearly £59m have been confiscated from criminals connected to Jersey over a 10-year period, figures obtained by the BBC show. A transparency campaigner said the return was “relatively modest” for an island “vulnerable” to money laundering. Island authorities believe the amount demonstrates financial crime is being… Read More
17th August 2017
People in Jersey are being urged to be extra vigilant following a series of targeted attempts to defraud Jersey companies and their clients. The Jersey Financial Services Commission are warning local businesses and members of the public to be careful after at least three cases surfaced, where locally registered business… Read More