Jersey has had a long-term commitment to preventing and eliminating financial crime. The purpose of the national
strategy and action plan is to clearly document Jersey’s position in supporting international efforts in the fight
against all forms of financial crime and areas of focus to increase effectiveness.
This financial crime strategy sets out the vision, strategy and action plan for combatting:
- money laundering
- financing of terrorism
- proliferation financing
The vision helps shape the strategic priorities, which align with the findings of the national risk assessments.
The risk appetite defines
what risks are accepted and which are not and the overall risk is removed or reduced via the actions in the plan.
The national strategy is published alongside the National Risk Assessments and the National Risk Appetite.
Overall these contribute to one single National Financial Crime Workplan.
Industry should consider this strategy document when reviewing business risk assessments (BRAs).
Executive Summary: of National Strategy for Combatting Money Laundering, the Financing of Terrorism, and the Financing of Proliferation of Weapons of Mass Destruction
National Strategy for Combatting Money Laundering, the Financing of Terrorism, and the Financing of Proliferation of Weapons of Mass Destruction
The strategy contains an action plan which lists the activities which will be undertaken in order to achieve the strategic priorities.
Progress against the strategy and action plan will be monitored via the Political Steering Group, which provides oversight.
The strategy will be reviewed:
- every two years
- if a global event creates a trigger of sufficient materiality, such as the Russian invasion of Ukraine in 2022
- an NRA identifies a significant new risk or threat that had not been previously considered and is deemed a systemic, critical threat to Jersey
The review will consist of a reassessment of the strategic priorities and updated actions which are required to mitigate current risks.