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The Quad Island Forum recently met in London to discuss Economic Crime and International Tax Crimes, ahead of the Bailiwick's MONEYVAL inspection.
The Financial Intelligence Units (FIUs) from Gibraltar, Guernsey, Isle of Man and Jersey met in Gibraltar House, London, as part of their ongoing commitment to further develop the Quad Island Forum and extend to other authorities with responsibilities for financial crime.
The three-day meetings included discussions between the Guernsey FIU, the Economic Crime and Confiscation Unit from Jersey, and the Isle of Man Proactive International Money Laundering Investigation Team, and focused on exchanging best practices in preparation for the upcoming MONEYAL mutual evaluation assessments.
The Head of FIU Guernsey, Adrian Hale (pictured), said the various discussions held over the course of the conference were very useful.
“The Quad Island Forum provides the ideal platform for multilateral engagement between the FIUs and the other authorities involved in detecting and combating economic and financial crime. These meetings also provide an opportunity for sharing technical experience in specialised areas and enhancing existing relationships with other Quad Islands.”
The Deputy Director of the Guernsey Revenue Service, Nig Garland, said: “The inaugural meeting of the FIU-Tax Authorities sub-group was extremely beneficial; it provided an opportunity for each of the authorities to learn from one another’s successes (and failures) in working together to tackle all forms of financial crime, including tax evasion. Criminals continue to evolve their criminal activities and the Quad Island Forum FIU-Tax authorities sub-group is one example of how the Authorities in Gibraltar, Guernsey, the Isle of Man and Jersey authorities are also continually evolving and learning from one another to continually enhance their respective abilities to tackle financial crime.”
What is MONEYVAL and why is it so important?
Guernsey doesn't need a trial run to be ready for Moneyval inspectors
Isle of Man remains tied up by MONEYVAL
Economic crime high on the hit-list
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