DNFBPs

Who is caught

These instruments extend Guernsey's anti-money laundering and countering the financing of terrorism (AML/CFT) regime to designated non-financial businesses and professions (DNFBPs). The core statutes are the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999, the Prescribed Businesses (Bailiwick of Guernsey) Law, 2008, the Disclosure (Bailiwick of Guernsey) Law, 2007, and the Commission's Handbook on Countering Financial Crime. A person is brought within scope by carrying on a relevant, prescribed or specified business as defined in those instruments.

• Prescribed businesses: The Prescribed Businesses Law supervises relevant businesses under the Proceeds of Crime Law that fall outside the main financial services licensing laws; the associated returns guidance names these as accountants, lawyers and estate agents.
• Schedule categories: The Proceeds of Crime Law imposes AML/CFT duties on financial services businesses (Schedule 1), relevant businesses (Schedule 2) and specified businesses (Schedule 3), reaching estate agents, accountants, non-locally qualified legal professionals and advocates, and their officers, trustees and partners.
• Specified businesses (Handbook): The Handbook applies to all specified businesses conducting financial services business or prescribed business in the Bailiwick, including Bailiwick branches of overseas firms, and covers TCSPs, virtual asset service providers, payment and money service providers, and natural persons, legal persons and legal arrangements such as companies, partnerships and sole traders.
• Trust and corporate service providers: TCSPs are addressed both by the Handbook and by the GIFCS Standard on the Regulation of Trust and Corporate Service Providers, which the GFSC makes available as a benchmark; the enforcement statements indexed here concern licensed fiduciaries administering trusts and companies.
• High value dealers: The cash transaction Regulations apply to businesses dealing in precious metal, precious stone or jewellery.
• Non-financial services businesses: The Disclosure Law imposes an equivalent suspicion-reporting duty on persons in non-financial services businesses.

Sources: Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999 · Disclosure (Bailiwick of Guernsey) Law, 2007 (Consolidated text) · Prescribed Businesses (Bailiwick of Guernsey) Law, 2008 (Consolidated text) · Criminal Justice (Proceeds of Crime) (Restriction on Cash Transactions) (Bailiwick of Guernsey) Regulations, 2008 · Prescribed Business Return (Form 154) Guidance · GIFCS Standard on the Regulation of Trust and Corporate Service Providers (Version 1.2, January 2026) · Handbook on Countering Financial Crime (AML/CFT/CPF) (7 July 2026)

Key duties

DNFBPs carry continuing AML/CFT obligations rather than one-off requirements. The recurring, deadline-bearing duties are registration, annual financial crime returns, and prompt disclosure of suspicion, layered on top of the Handbook's customer due diligence, monitoring, screening and record-keeping standards.

Registration and returns

• Registration: Relevant and specified businesses must comply with the registration and AML/CFT duties under sections 49, 49A and 49AA and Schedules 1 to 3 of the Proceeds of Crime Law, and beneficial ownership obligations under section 49DA.
• Prescribed Business Return: Registered prescribed businesses must submit one annual PB Return (Form 154) covering all Schedule 2 activities for the 1 July to 30 June reporting period, due by 31 October, approved by a senior representative (Board member or equivalent, MLCO or MLRO) before submission.
• Financial Crime Risk Return: Under the Financial Crime Returns Rules 2025, licensees and registrants must file an annual Financial Crime Risk Return for the 1 July to 30 June period by 31 October following period end.
• Annual fees: Firms licensed or registered with the Commission are liable for annual fees, which the fees FAQ states must be paid by the deadline set for the relevant cycle to avoid a late payment penalty.

Disclosure of suspicion

• Report knowledge or suspicion: A person in a non-financial services business must disclose knowledge or suspicion of money laundering to a prescribed police officer or FIU officer as soon as possible (Disclosure Law section 3); financial services businesses report via nominated officers under sections 1 and 2.
• Manner of disclosure: Disclosures under the Terrorism and Crime Regulations must normally be made through the FIU's online reporting facility, with the paper form used only with an authorised officer's consent, and additional information supplied when required by notice.
• No tipping off: Persons must not tip off that a disclosure has been or may be made or that an investigation is contemplated or carried out, subject to the permitted-disclosure exceptions.

Due diligence, governance and records

• Risk-based CDD: Firms must apply a risk-based approach and conduct customer due diligence (including enhanced or simplified measures where appropriate) on natural persons, legal persons and legal arrangements under Schedule 3 and the Handbook.
• Ongoing monitoring: Firms must monitor customer activity and business relationships for suspicious or unusual activity, and periodically review relationship risk assessments.
• Sanctions screening: The 2024 thematic review reminds prescribed businesses to screen customers, beneficial owners and key principals at take-on, at periodic review and on trigger events, to disclose to the Commission following an identified sanctions connection (Handbook Rule 12.37) and to maintain a sanctions register (Rule 12.38).
• Employee screening and training: Firms must screen and train staff on AML/CFT; instructions to prescribed businesses require Boards to review employee screening (including verification of claimed qualifications and professional memberships) and training arrangements.
• Record keeping: Firms must keep records of CDD, transactions and training as required by Schedule 3 and the Handbook.
• Notify material failures: Businesses must advise the Commission of any material failure to comply with the Regulations or Handbook, or any serious breaches of internal policies, procedures and controls (Handbook rule 30 for financial services businesses, rule 46 for legal professionals, accountants and estate agents).
• Higher-risk jurisdictions: Standing instructions require prescribed and specified businesses to apply enhanced due diligence and heightened caution to relationships connected with FATF-listed and Commission-identified jurisdictions, and, in some instructions, to remediate reliance on introducers or intermediaries from de-listed jurisdictions by fixed dates or notify the Commission where remediation is not possible.

Cooperation and cash limit

• Site visit cooperation: Licensees and associated parties must permit and cooperate with Commission site visits, including entry on 48 hours' notice, entry without notice where documents are at risk, and production of documents and answers under the Site Visits Ordinance.
• Information requests: Registered prescribed businesses (and, for up to six years after deregistration, former ones) must comply with Commission notices requiring information, reports or documents within the specified time and form.
• Cash transaction limit: High value dealers must not sell or buy precious metal, precious stone or jewellery for cash payments exceeding £10,000 (or currency equivalent), including where structured as a series of payments.

Sources: Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999 · Disclosure (Bailiwick of Guernsey) Law, 2007 (Consolidated text) · Financial Services Commission (Site Visits) (Bailiwick of Guernsey) Ordinance, 2008 (Consolidated Text) · Prescribed Businesses (Bailiwick of Guernsey) Law, 2008 (Consolidated text) · Criminal Justice (Proceeds of Crime) (Restriction on Cash Transactions) (Bailiwick of Guernsey) Regulations, 2008 · Terrorism and Crime (Bailiwick of Guernsey) Regulations, 2007 (Consolidated text) · Instruction Number 02/2021 for Specified Businesses - Malta · Instruction (Number 03/2017) for Prescribed Businesses · Instruction Number 02/2017 for Prescribed Businesses · Instruction (Number 1) for Prescribed Businesses - Corporate Governance and Internal Controls (2009-11-11) · Instruction (Number 4) for Prescribed Businesses (2009-11-11) · Prescribed Businesses Instruction (Number 12) Business from Sensitive Sources - Iran (2011-11-22) · Financial Crime Returns Rules, 2025 · FAQ on Annual Fees · Guidance Note June 2014 - Visit Trends & Observations (January 2012 - 30 March 2014) · Prescribed Business Return (Form 154) Guidance · Governance, Risk and Compliance Controls to Counter Financial Crime - Estate Agency, Legal and Accountancy Services - Thematic Review 2024 · Handbook on Countering Financial Crime (AML/CFT/CPF) (7 July 2026) · Instruction Number 01/2021 for Specified Businesses - Cayman Islands (2021-03-05) · Instruction Number 04/2019 for Specified Businesses - Iceland (2019-11-29)

Exemptions and carve-outs

The instruments provide a number of carve-outs and out-of-scope cases, mostly defining the edges of the prescribed business regime and offering defences to the disclosure offences.

• Prescribed business exclusions: The Prescribed Businesses Law applies to relevant businesses under the 1999 Law subject to specified exclusions, including high value dealing, casinos, small businesses, and certain paragraph 6 businesses not required to register.
• Cash limit threshold: The high value dealer restriction bites only where a cash payment exceeds £10,000; sales or purchases at or below that threshold are not caught.
• Returns exclusions: The Financial Crime Returns Rules exclude certain categories altogether, including personal fiduciary licence holders, general-insurance-only licensees, certain LCF ancillary or credit-provision-only licensees, and businesses under specified Proceeds of Crime Law schedule provisions; the Commission may also exclude or modify application by written notice.
• Simplified due diligence: The Handbook permits simplified due diligence measures where appropriate under a risk-based approach.
• Disclosure defences: The disclosure offences are subject to defences including reasonable excuse, professional legal privilege (except where information furthers a criminal purpose), and lack of required AML training; good-faith disclosures do not breach confidentiality obligations. The Terrorism and Crime Regulations provide equivalent reasonable-excuse and legal-privilege defences.
• Privilege on site visits: Requirements under the Site Visits Ordinance override contractual and statutory confidentiality obligations but do not compel disclosure of legally privileged material.

Sources: Disclosure (Bailiwick of Guernsey) Law, 2007 (Consolidated text) · Financial Services Commission (Site Visits) (Bailiwick of Guernsey) Ordinance, 2008 (Consolidated Text) · Prescribed Businesses (Bailiwick of Guernsey) Law, 2008 (Consolidated text) · Criminal Justice (Proceeds of Crime) (Restriction on Cash Transactions) (Bailiwick of Guernsey) Regulations, 2008 · Terrorism and Crime (Bailiwick of Guernsey) Regulations, 2007 (Consolidated text) · Financial Crime Returns Rules, 2025 · Handbook on Countering Financial Crime (AML/CFT/CPF) (7 July 2026)

Enforcement and penalties

Enforcement of the DNFBP regime runs through the Commission's supervisory powers, dedicated offences in the underlying statutes, and public enforcement statements. The Commission can impose administrative sanctions, and the courts can convict for specific offences.

Administrative sanctions

• Prescribed Businesses Law: The Commission may issue private reprimands, discretionary financial penalties, public statements and disqualification orders against prescribed businesses, and may apply to the Royal Court (or Court of Alderney or Court of the Seneschal) to wind up a company or grant an injunction on grounds of material contravention, an offence, or the need to counter financial crime.
• Enforcement Powers Law: For licensees under the supervisory laws (including licensed fiduciaries), the Commission may impose enforcement requirements, suspend or revoke licences, make prohibition and disqualification orders, and impose discretionary and administrative financial penalties, alongside public statements.
• Appeal window: A person aggrieved by specified Commission decisions under the Prescribed Businesses Law must appeal to the Court within 28 days of the decision notice.

Criminal offences

• Cash limit breach: Contravening the high value dealer cash restriction is an offence: a first offence carries a fine not exceeding level 2 on the uniform scale (stated as currently £1,000); a second or subsequent offence carries a fine not exceeding twice the value of the cash involved.
• Site visit offences: Obstructing or failing without reasonable excuse to comply with a request or requirement, making false or misleading statements, or falsifying, concealing or destroying relevant documents are offences punishable on summary conviction by up to 6 months' imprisonment and/or a level 5 fine, or on indictment by up to 2 years' imprisonment and/or a fine.
• Terrorism and Crime Regulations: Failing to provide required additional information within the specified period and form is an offence punishable summarily by up to 6 months' imprisonment and/or a level 5 fine, or on indictment by up to 5 years' imprisonment and/or a fine.
• Disclosure and Proceeds of Crime offences: Failure to disclose, tipping off, dealing in criminal property, and prejudicing an investigation are offences under the Disclosure Law and the Proceeds of Crime Law, the latter also creating a corporate failure-to-prevent money laundering offence.

Illustrative enforcement

• Financial penalties on firms: Published statements against licensed fiduciaries (TCSPs) record penalties for AML/CFT and governance failings, including £455,000 on Equiom (Guernsey) Limited, £450,000 on Artemis Trustees Limited, £140,000 each on Fides Corporate Services Limited and Hansard Limited, £70,000 on Blenheim Fiduciary Group Limited, and £70,000 on Louvre Trust (Guernsey) Limited.
• Individual sanctions: Statements also record financial penalties, prohibition orders and disapplication of the section 3(1)(g) Fiduciaries Law exemption against directors and officers, for example a £100,000 penalty and 10-year prohibition on one individual in the Chamberlain Heritage matter and penalties on Hansard's directors and officers.

Sources: Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020 · Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999 · Disclosure (Bailiwick of Guernsey) Law, 2007 (Consolidated text) · Financial Services Commission (Site Visits) (Bailiwick of Guernsey) Ordinance, 2008 (Consolidated Text) · Prescribed Businesses (Bailiwick of Guernsey) Law, 2008 (Consolidated text) · Criminal Justice (Proceeds of Crime) (Restriction on Cash Transactions) (Bailiwick of Guernsey) Regulations, 2008 · Terrorism and Crime (Bailiwick of Guernsey) Regulations, 2007 (Consolidated text) · Artemis Trustees Limited (2026-07-03) · Equiom (Guernsey) Limited (2024-07-26) · Fides Corporate Services Limited, Mr David Charles Housley Whitworth, Mr Paul Conway and Mr Stuart Turner (2024-03-05) · Chamberlain Heritage Services Limited, Mr Christopher Henry Shaw, Mr John Adam Robilliard, Mr Bruce David McNaught (2023-08-24) · Chamberlain Heritage Services Limited, Mrs Deborah Anne Ellis (2023-08-24) · Hansard Limited, Andrew Neil Parr, Alan Peter Northmore, Philip Clive Blows, David Samuel Lloyd, Lynn Giovinazzi (2021-12-22) · Louvre Trust (Guernsey) Limited, Derek Paul Baudains, Jonathan Ross Bachelet, Haidee Louise Stephens, Julian Dai Lane, Charles Peter Gervais Tracy (2019-06-18) · Blenheim Fiduciary Group Limited (2017-08-25)