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  • Strategic Approach

FIU Mandate and Key Objective under the Guernsey Border Agency

GBA Key Objective 2

Prevent and Combat Financial and Economic Crime

The GBA must protect the Island's good reputation as a successful and well regulated offshore finance centre.

The GBA must align its activities to complement the Financial Action Task Force recommendations, the requirements of the International Monetary Fund and other relevant international standard setters.

The GBA is committed to aggressively target and take profit away from criminals, both locally and internationally, by robustly removing the proceeds of their crimes.

In supporting the UN Convention against Corruption, the GBA must investigate allegations of corruption. Similarly the GBA must also investigate allegations of bribery of foreign officials and politically exposed persons, which is classified as a money laundering offence.

The GBA will be responsible within the Bailiwick for combating financial and economic crime working in partnership with the Guernsey Police.

Key Objective 2 work streams:

a. Prevent and combat money laundering.

b. Prevent and combat the financing of terrorism.

c. Tackle the financing of cross border crime, and take away the profit of criminals, including asset recovery.

d. Develop and maintain the Bailiwick Financial Crime Strategy in consultation with all partners in order to enable sustained confidence and growth in Guernsey's economic future.

e. Provide a consolidated single management structure for assigned financial crime investigation working in partnership with the Police.

f. Build knowledge of, and understanding about, the cause and effects of financial crime on the economy of Guernsey.

g. Support the Bailiwick Intelligence Model in providing a Bailiwick Financial Investigation Unit as defined by EGMONT, FATF which will be responsible for the International gateway liaison and all mutual legal assistance treaty requests and Suspect Transaction Reports.

The FIU will be responsible for:

Receiving, (and as permitted, requesting), analysing and disseminating to the competent authorities, disclosures of financial information:

i. Concerning suspected proceeds of crime and potential financing of terrorism, or
ii. Required by national legislation or regulation, in order to combat money laundering and terrorism financing.

h. Work in conjunction with the Police and Law Officers in order to maintain relationships with international partners ensuring that Guernsey identifies international criminal activity conducted within the financial sector.

Financial Investigation Unit

Ozanne Hall,  Mignot Plateau,  Cornet Street,  St Peter Port,  GY1 1LF,  Guernsey
Tel: 44 (0)1481 714081 Fax: 44 (0)1481 710466