Financial Crime World

South Georgia and South Sandwich Islands Launches Investigation Procedures to Combat Financial Crime

In an effort to strengthen its fight against financial crime, South Georgia and South Sandwich Islands has announced the launch of new investigation procedures aimed at detecting and preventing money laundering, terrorist financing, and other financial crimes.

Key Responsibilities of the Financial Crime Manager

The islands’ financial authorities have established a Financial Crime Manager role, responsible for guiding the business in matters related to financial crime. The successful candidate will be expected to:

  • Provide expert guidance to the business using their own initiative, supported by the Head of Financial Crime, Head of Risk & Compliance, and an experienced Deputy Money Laundering Reporting Officer (MLRO).
  • Receive and investigate internal Suspicious Activity Reports (SARs), as well as make external disclosures when necessary.
  • Respond to requests from law enforcement agencies, regulatory bodies, government bodies, and tax authorities.

Record Keeping and Reporting

To ensure effective implementation of the new procedures, the Financial Crime Manager will:

  • Maintain accurate records of investigations.
  • Provide regular reports to the Board on matters related to financial crime.
  • Contribute to the development and maintenance of the business’ Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Countering Proliferation Financing (CPF) policies and procedures.

Eligibility Criteria

The successful candidate must have:

  • A minimum of 5 years’ experience in financial services, financial crime/compliance roles, law enforcement, or regulatory bodies.
  • Completion of a relevant ICA diploma or equivalent is highly desirable.
  • Experience of at least one of Guernsey Fiduciary or Investment businesses.

Commitment to Diversity and Inclusion

IQ-EQ, the leading Investor Services group behind this initiative, has emphasized its commitment to creating an inclusive and diverse environment that supports career aspirations. The company offers opportunities across its service lines and international network of offices, and prioritizes continuous learning and professional development.

Conclusion

The launch of these investigation procedures is a significant step forward in South Georgia and South Sandwich Islands’ efforts to combat financial crime and protect its financial institutions and citizens.