Financial Crime World

Financial Intelligence Unit Prioritizes Immediate Outcomes in Combating Money Laundering and Terrorist Financing

The Financial Intelligence Unit (FIU) of the Bailiwick of Guernsey has outlined its strategic plan for 2022-2024, focusing on immediate outcomes to combat money laundering, terrorist financing, and proliferation financing.

International Cooperation and Standards

As a full member of the Egmont Group of FIUs, the FIU adheres to international standards and principles of information exchange between financial intelligence units. The unit’s core functions prioritize the identification of risks and threats to the Bailiwick, including money laundering, terrorist financing, and proliferation financing, as identified in the National Risk Assessment (NRA).

Timely and Accurate Information Sharing

The FIU is committed to providing timely and accurate beneficial ownership information to other FIUs and law enforcement agencies. This includes responding to requests for information within 24 hours or one hour for urgent threat-to-life cases.

Strategic Objectives

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The unit’s strategic objectives focus on three key areas:

Identifying Money Laundering, Terrorist Financing, and Proliferation Financing

  • Develop operational intelligence to prevent criminal conduct and aid in the confiscation of assets derived from illegal activities

Maintaining Structure and Capabilities

  • Ensure necessary IT infrastructure, resources, systems, and controls to operate efficiently and effectively
  • Develop capacity and capability of workforce through training and performance reviews

Developing Public-Private Partnerships

  • Establish a pilot scheme Public Private Partnership arrangement with the retail banking sector
  • Promote information sharing and collaborative efforts to mitigate the risk of money laundering, terrorist financing, and proliferation financing

Engagement and Intelligence

The FIU’s strategic plan emphasizes the importance of:

  • Engagement with industry
  • Strategic analysis
  • High-quality intelligence products
  • Effective relationships with key stakeholders and partners domestically and internationally

Dissemination of Intelligence

The unit is committed to disseminating accurate and timely intelligence to support law enforcement agencies in their efforts to combat financial crime.

Contact Information

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Financial Intelligence Unit Ozanne Hall, Mignot Plateau, St Peter Port, Guernsey, GY1 1LF Telephone: +44 (0)1481 225824 Email: FIS@gba.gov.gg Website: guernseyfiu.gov.gg