Jonathan Fisher KC discusses Guernsey’s MoneyVal inspection

May 10, 2024

A financial inspection looking into the ability of Guernsey’s finance sector to combat financial crime took place between 15-26 April, 2024.

MoneyVal helps maintain international standards in the fight against financial crime including money laundering and financing of international terrorism and is part of the Council of Europe. Its main task is to carry out evaluations of finance centres to make sure they have robust processes and rules in place to tackle financial crime.

Following Moneyval’s inspection of anti-money laundering procedures in Guernsey, the BBC interviewed Jonathan Fisher KC about the chances of the island being placed on the grey list of countries. Jonathan commented that it would be very damaging to the island’s financial interests if this happened: “The last thing Guernsey would want to do is lose revenue and businesses to other jurisdictions” and went onto explain the areas in which the inspectors were likely to be interested.

Listen from 2:08:40: [BBC Sounds]
Read article here: [BBC News]

MoneyVal inspectors are due to publish their full report in early 2025.

Jonathan is a leading King’s Counsel in Financial Crime, Proceeds of Crime, Fraud (Civil and Criminal), and Tax (Corporate and VAT) cases. Additionally, Jonathan Fisher KC holds a PhD from LSE where he will continue to teach LLM students as a Visiting Professor in Practice. More info here: [Jonathan Fisher KC Profile]