Implications for financial intermediaries in attacking money laundering prevention through enhancing tax law enforcement

Abstract

Focuses on Guernsey’s financial services industry as an example of a financial intermediary: this includes banks, fund managers, investment advisers, insurance brokers, companies and managers, and fiduciaries like company directors, company service providers and trustees. Describes the Guernsey Financial Services Commission efforts to regulate fiduciaries, which now have to be licensed by it; to educate the industry, especially fiduciaries, about money laundering and tax evasion, by means of workshops; and the strong policy it has adopted against tax evasion and money laundering and the secrecy which allows them, so that, for instance, it does not require mutual legal assistance treaties to be in place before information is passed to law enforcement agencies abroad.

Citation

Neville, P. (2002), "Implications for financial intermediaries in attacking money laundering prevention through enhancing tax law enforcement", Journal of Financial Crime, Vol. 10 No. 1, pp. 73-75. https://doi.org/10.1108/13590790310808619