This page provides information on the Bailiwick of Guernsey's current "national" risk assessment in relation to money laundering, terrorist financing and proliferation financing.
The Bailiwick of Guernsey has carried out its second National Risk Assessment (NRA) of the money laundering and terrorist financing risks presented by individual sectors and products within the jurisdiction. The first NRA (the report on which was published in January 2020) was based on an International Monetary Fund methodology. The second NRA has developed the first NRA based on the further knowledge and findings of the authorities, informed by regional and local developments. In addition, the Bailiwick of Guernsey has carried out its first assessment of the risks of financing of proliferation of weapons of mass destruction.
The report on the second NRA was published in December 2023. This updated the previous report published in January 2020. Both the 2020 and 2023 reports are available on this page.
As with the first NRA, the finding of the second NRA with regard to money laundering risks is that, as an international finance centre with a low domestic crime rate, Guernsey's greatest money laundering risks come from the laundering of the proceeds of foreign criminality. The money laundering risks from domestic criminality, while much lower, primarily arise from drug trafficking and fraud.
Also consistent with the first NRA, the finding of the second NRA with regard to terrorist financing risks is that the greatest risks come from the jurisdiction's cross-border business being used to support foreign terrorism, by funds being passed through or administered from Guernsey. However, this risk is much lower than the money laundering risks. The assessment of the risks of financing of proliferation of weapons of mass destruction finds that the risks are the same or lower than the jurisdiction's terrorist financing risks.
Guidance on terrorist financing risks to the Bailiwick 2024
- Guidance on terrorist financing risks to the Bailiwick has been published by the Policy & Resources Committee following the publication of the report on the Bailiwick's second National Risk Assessment of Money Laundering and Terrorist Financing, to assist specified businesses in their terrorist financing business risk assessments and events hosted by Bailiwick authorities on terrorist financing risk and on the national risk assessment report. The guidance is available here:
Guidance on Terrorist Financing Risks to the Bailiwick 2024 [277kb] or via PDF on the right-hand side of this page.
NRA: legal persons and legal arrangements
A report is available on this page concerning the Bailiwick of Guernsey's money laundering, terrorist financing and financing of proliferation of weapons of mass destruction risks from legal persons and legal arrangements. This report follows, and supplements, the report on the Bailiwick of Guernsey's second "national" risk assessment on money laundering, terrorist financing and financing of proliferation of weapons of mass destruction, which is also published on this page. A separate risk assessment of legal persons and legal arrangements has been published in order to facilitate maximum benefit to all stakeholders and ease of use.
