Jersey

Jersey considers strengthening money laundering laws

  • 3 August 2011
  • From the section Jersey

Jersey could strengthen its laws preventing money held on the island from being used to finance terrorism.

The States is being asked to copy a part of the UK's Counter-Terrorism Act.

The proposal from the Chief Minister Senator Terry Le Sueur will be debated on 13 September.

The law would direct the finance industry to prevent terrorist organisations or countries using its services.

Action would be taken if there was a risk money laundering or the development of weapons in a country or territory threatens national interests.

It was not thought this would increase the workload for Jersey companies, many of whom are already subject to the UK law.

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