Training offered ahead of MONEYVAL evaluation

Tuesday 18 July 2023

Collas Crill Compliance Limited is running a series of masterclasses to help MLROs and MLCOs meet additional training requirements ahead of the island's MONEYVAL visit.

The training will be delivered by Collas Crill Compliance Limited Executive Director Sandra Lawrence and Collas Crill Group Partner Nin Ritchie. Attendees will receive a CPD certificate of attendance.

Guernsey's next MONEYVAL visit is expected to be in Q1 of 2024. One of the key focuses of MONEYVAL's visit is expected to be the evaluation of the efficacy of Guernsey's AML/CFT/CPF framework.

The topics covered by the four masterclasses include; AML/CFT/CPF policies, procedures and controls – how to establish strong internal controls; dealing with suspicious activity reports and ensuring you are fully equipped to deal with such disclosures; effective management information and record keeping; and understanding the complexities of international sanctions.

"Additional training for MLROs and MLCOs has been mandated by the Guernsey Financial Services Commission so it is vital that people working within an AML/CFT/CPF role take heed," said Ms Lawrence.

"The landmark Financial Action Task Force (FATF) report published in 2022 couldn't have been clearer on what Guernsey should expect from the MONEYVAL visit – they are looking for tangible progress on the effective implementation of laws, regulations and policies.

"Key to this is ensuring all anti-financial crime professionals are fully trained in all their obligations and armed with tools and knowledge to carry out their duties to the highest level."