Our Bailiwick of Guernsey AML Services
The Bailiwick of Guernsey includes two AML/CFT regulators – the Guernsey Financial Services Commission (GFSC) and the Alderney Gambling Control Commission (AGCC).
The GFSC covers both financial services businesses (regulated, non-regulated and money service providers) and prescribed businesses (legal professionals, accountants and estate agents). The AGCC is responsible for the eGambling industry.
The Guernsey AML/CFT Regime is currently undergoing review following an unprecedented number of responses to the recent consultation. The consultation contained many changes proposed by both the Government and the regulator to ensure that deficiencies highlighted in the island’s latest MONEYVAL report were addressed.
Whilst the new framework remains in flux, Midshore are able to assist with any regulated, registered or prescribed business in compliance with the existing regime. We are also actively keeping abreast of the coming changes and will be able to assist businesses throughout the transition period and beyond.
The AGCC has its own AML/CFT framework that eGambling licensees must comply with, including a comprehensive questionnaire to show compliance with the various requirements of the framework.
Midshore’s AML / CFT Services for Guernsey & Alderney
- Act as MLRO on your behalf / provide MLRO administration assistance
- Mapping AML / CFT Requirements for your business
- Implementing Appropriate changes to procedures & policies
- Ascertaining the need and scope of remediation – using our staff or yours
- Assisting with your AML / CFT Business risk management
- Remediating your existing client base
- Ensuring a review & monitoring programme is established
- Training at levels appropriate for your staff
Different levels of service are available from consultation or advice (using our Assure by Midshore service) to full programme management with a team of analysts and administrators to assist. Please contact us to discuss the requirements of your business.