Following a pilot exercise in 2020, the Commission has made permanent and extended to all sectors its exit interview programme for individuals who held Money Laundering Reporting Officer and/or Money Laundering Compliance Officer roles.
The pilot initially applied to the banking and fiduciary sectors as the Bailiwick’s highest risk sectors for money laundering and terrorist financing and was expanded in the summer to include the investment and legal sectors as the next highest risk sectors as identified in Guernsey’s National Risk Assessment.
The initiative has been useful in assisting both the Commission’s risk-based AML/CFT supervision and its current understanding of the roles, responsibilities and challenges faced by those in these key positions.
This news item was originally published by the Guernsey Financial Services Commission (GFSC GG). For more information, see the Source Link.