The Council of Europe's anti-money laundering body, MONEYVAL, has published a report urging Guernsey to improve the investigation, prosecution and conviction of money laundering offences whilst also highlighting Guernsey's good understanding of the risks of money laundering/terrorist financing and its highly effective application of targeted financial sanctions.
The report commended Guernsey's Financial Intelligence Unit for producing high-quality analytical products and strategic analysis, while acknowledging the limited extent to which they are used by law enforcement authorities to initiate investigations. The quality of suspicious activity reports also remains a concern.
Guernsey is expected to report back to MONEYVAL, under MONEYVAL's regular follow-up reporting process, in May 2027.
