Money Laundering

Summary

This is a general educational guidance note published by the JFSC explaining what money laundering is, how it works, and the range of predicate offences and typologies relevant to Jersey. It does not itself impose new rules; instead it provides background context and points readers to the JFSC Handbook and FATF materials for detailed AML obligations and reporting requirements.

• Nature of money laundering: Describes the traditional circular laundering cycle (placement, layering, integration) and newer typologies linked to virtual assets and decentralised finance.
• Gate-keepers: Notes that lawyers, accountants and similar professionals can be used, wittingly or not, to lend legitimacy to laundering schemes.
• Predicate offences: Lists and explains predicate offences under Jersey law, including drug trafficking, human trafficking, migrant smuggling, illicit firearms trafficking, corruption, bribery, fraud, illegal wildlife trade, and environmental crime.
• Types of laundering: Distinguishes self-money laundering, third party laundering, professional laundering networks, stand-alone (autonomous) laundering, and laundering involving a foreign predicate offence.
• Related financial crimes: Notes the relationship between money laundering, terrorist financing and proliferation financing, referring readers to the Handbook's comparison table and Appendix D2.
• Reporting: States that reporting requirements for suspicions of crime are set out in Section 8 of the JFSC Handbook, rather than in this guidance note itself.

Because this document is explanatory rather than rule-making, it creates no new standalone compliance obligations, deadlines or filing requirements; readers needing actionable AML/CFT obligations should consult the JFSC Handbook and applicable Jersey legislation referenced throughout.

Applies to

financial services businesses, lawyers, accountants, reporting institutions