MoneyVal – Something For Everyone

tindalldawn-1-e1454075780950

GUERNSEY’S MONEYVAL REPORT IS OUT!

MoneyVal have finally issued the 4th Round Evaluation of Guernsey and, whilst everyone pats themselves on the back (and why not – Guernsey has done very well) there is still some aspects of concern for all licensees, the regulator and the FIU.
The headlines below could be the future…..

If you’re bad, you’ll pay more … if your suspicious and don’t report, you will be punished … no more simplified or reduced CDD for many low risk relationships … EDD compulsory for many more FSB relationships … lawyers and accountants no longer Appendix C businesses … independent audit functions needed to test compliance ….

But then the good news for FSBs …..

  • Will trusts need to have a Guernsey registered agent or TCSP trustee?
  • Will TCSPs be needed for all Guernsey companies?
  • The AGCC should provide additional guidance particularly CDD measures.
  • The FIU should provide more information in public reports.

This is just my view of the Summary and, as we know, the devil is in the detail. But I am sure we have the time to read the 322 page report whilst we wait with interest to see what the GFSC will do – looking forward to the 11th February and their Industry Presentation on the Moneyval Report Feedback.

Welcome to a new approach to AML/CFT

tindalldawn-1-e1454075780950
DAWN TINDALL INTRODUCESTRIANGLE COMPLIANCE SERVICES
PROVIDING AML/CFT SOLUTIONS

I am pleased to welcome you to my website and to introduce you to the services I can offer. I am a compliance professional and am passionate about getting things right. AML/CFT is a complex area which has many pitfalls for the unwary and the penalties for failure are increasing.
By applying my legal training and many years of experience as a practising solicitor, I can provide reasonably priced and reassuringly thorough answers to your AML/CFT concerns.

I always believe that talking through a problem can lead to a solution – call me for a chat to find out if you like my approach and if you wish me to help with those irritating issues.