MONEYVAL acknowledges Jersey’s AML/CFT improvements
The Council of Europe’s anti-money laundering body MONEYVAL has praised Jersey for its efforts to enhance its legal and regulatory framework in the fight against money laundering, terrorism financing, and proliferation financing.
MONEYVAL has determined that Jersey has made significant improvements to its legal framework since the last evaluation. While the jurisdiction has the majority of components necessary for effective AML/CFT, there is still room for enhancement in the implementation of certain measures.
In 2022 AML Analytics began working with Jersey, undertaking a sanction screening systems Thematic Review for the jurisdiction. As stated on the JFSC’s website, “The JFSC appointed AML Analytics Limited (AMLA) to provide analysis and stress testing of screening solutions, covering sanctions and Politically Exposed Persons (PEPs) using its analysis tool, to benchmark the results, and to assist the JFSC with the preparation and delivery of feedback following the conclusion of the testing.”
It has since been deemed that Jersey has demonstrated a high level of proficiency in addressing ML/TF risks and has put in place effective AML/CFT measures to counter them, and they hope to continue to improve for their regular follow-up reporting process in December 2026.
Source: Council of Europe