JT Group Limited reposted this
Congratulations to Jersey for achieving one of the highest levels of effectiveness in preventing financial crime, as confirmed by the latest MONEYVAL report. This outstanding result reflects a collective dedication to countering money laundering and the financing of terrorism, including combating scams and fraud. At JT, we are proud to contribute to this by developing innovative Mobile Intelligence solutions that assist the finance industry globally in detecting and preventing fraud. Our collaboration with industry partners is stronger than ever, working to safeguard our community and maintain Jersey's exemplary standards – setting a global benchmark for excellence in financial security. Well done to everyone involved! #Fraud #StopFraud #MobileIntelligence #FinancialCrime
We are proud to share the findings of Jersey’s MONEYVAL report, which confirms that Jersey’s effectiveness in preventing financial crime is among the highest level found in jurisdictions evaluated around the world. This is a significant moment for our island. The positive outcome cements Jersey’s position globally as a leading jurisdiction to do business with and drives forward the island’s long-term economic success. The report recognised our strengths at the JFSC, including our beneficial ownership regime and our people’s knowledge, skills and expertise. We would also like to thank the Government of Jersey team, our agency colleagues, and all our industry partners. Focus areas now for us include: - enhancing background checks for principal and key persons - undertaking a review of how we assess supervisory findings, which will help boards and compliance functions further their understanding of seriousness - ensuring the right enforcement action is taken at the right time and that actions continue to be carefully considered based on the severity of the breaches identified and associated risks Every MONEYVAL report has recommended actions, which we welcome as an integral part of being a high-performing regulator. We had identified many of these actions before the report’s publication, and the work is already underway. The positive MONEYVAL outcome affords Jersey the opportunity to leverage compliance with international standards as a platform for future growth. The success of MONEYVAL has shown that when we work closely with others, we deliver far better results. We welcome collaborating with the Government of Jersey and industry on the strategic review of the regulation of the financial and professional services sector. Find out more about the report here: https://lnkd.in/drFUu8xQ We have put in place a high-level action plan to address the key recommended actions and will expand further on this in the autumn, along with a programme of industry engagement. #MONEYVAL #JerseyCI #CombattingFinancialCrimeTogether
