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Reports and Updates

1 February 2024 

FIU SAR Reporting Q4 report published. 

The FIU has published its Q4 2024 Suspicious Activity Statistics Report (SAR Quarterly Report), which aims to provide insight, trends, feedback, and scenarios to submitters based on SARs received by the FIU. The report includes a breakdown of predicate criminality, the number of SARs by reporting sector, consent request and grounds for disclosure and new TF typology based on the TCSP sector. 

Overall, 449 SAR reports were received by the Jersey FIU in Q4 2023, which represented a 28% increase compared to the same period in 2022. The Banking sector remains the largest reporting group, with 52.3% of all SARs submitted in Q4 2023. This was followed by the Trust and Corporate Service Provider (TCSP) sector, with 26.5% of all submissions. 

As always, high-quality SARs with detailed and relevant data (provided in the correct format) are both a legal requirement and vital in the collective fight against financial crime. SAR submissions provide an essential trigger for the FIU to assess further, analyse and develop information and suspicion to provide clearer insight and intelligence on a range of threat actors and their financial crime activities, illicit finance trends, emerging threats and ongoing risk understanding.

9 November 2023

FIU SAR Reporting Q3 reports published 

The FIU has published its Q3 2023 Suspicious Activity Statistics Report  (SAR Quarterly Report), which aims to provide insight, trends, feedback and scenarios to submitters based on SARs received by the FIU. The report includes a breakdown of predicate criminality, the number of SARs by reporting sector, consent request and grounds for disclosure and new TF typology based on the TCSP sector. 

Overall, the Banking sector continues to be the largest reporting group, with 49.7% of all SARs submitted in Q3 2023. This was followed by the Trust and Corporate Service Provider (TCSP) sector, with 27.4% of all submissions. 

As always, high-quality SARs with detailed and relevant data (provided in the correct format) are both a legal requirement and vital in the collective fight against financial crime. SAR submissions provide an essential trigger for the FIU to assess further, analyse and develop information and suspicion to provide clearer insight and intelligence on a range of threat actors and their financial crime activities, illicit finance trends, emerging threats and ongoing risk understanding.

15 September 2023

FIU SAR Reporting Q1 and Q2 reports published.

The Financial Intelligence Unit (FIU) has published its Q1 and Q2 Suspicious Activity Reports (SARs) quarterly reports, which aim to provide inside insight and trends and provide feedback to submitters of SARs on the recorded data received by the FIU. 

The information in SARs is vitally important in the fight against financial crime. Good quality SARs allow the FIU to better understand suspected criminal activity, ML/TF typologies, emerging threats, risks and trends. SAR information is used to support the operational focus of the FIU and help inform the wider work carried out by other local competent authorities tasked with financial crime strategy development/ implementation. 

Submitters of SARs will be aware of changes made to the SAR Template, which occurred on 1st February 2022. These changes allow for a more detailed analysis of information contained in a SAR by the FIU and provides for better feedback on SAR data to industry. This work is ongoing, and further changes will be undertaken. The Q1 2023 report contains feedback as a direct result of those changes in areas such as consent requests, business declined information, and disclosure of criminal activity. Because of further changes implemented in April 2023, we delayed publishing the Q1 report to allow us to assess the quality of the data reporting before publishing both reports now. The Q3 report is scheduled to be published at the end of November 2023. 

31 August 2023

Guidance on Submitting a SAR for Non-Profit Organisation (NPO) Sector

The Financial Intelligence Unit (FIU), in partnership with the Jersey Financial Services Commission (JFSC), has produced a guide for Non-Profit Organisations on how to submit a Suspicious Activity Report (SAR). 

This guide is designed to assist NPOs if they have knowledge, suspicion, or reasonable grounds for suspicion that Terrorist Financing (TF) and/or Money Laundering (ML) activity is present. 

A SAR is the format by which knowledge of money laundering and terrorist financing are reported. It allows information and intelligence to be formally passed to law enforcement agencies - helping them prevent, detect, investigate, and prosecute crime. 

Additionally, details on the requirements under the Proceeds of Crime (Jersey) Law 1999 and Terrorism (Jersey) Law 2022 can be located on page 2 of this helpful guide, which includes a flow chart to further aid users in understanding their duty to report and the process.

27 January 2023

Typologies Booklet 2023

The FIU and JFCU are pleased to release another typologies booklet, this has been achieved by working closely with Baker Regulatory Services Limited who have produced this detailed document.

This booklet of typologies considers the money laundering risks identified in Jersey’s National Risk Assessment and we hope that this will be used as a self-learning tool and assist in the identification red flags associated with sector specific money laundering risks.

We are aiming to provide more frequent typologies updates and we welcome any suggestions of what you would like to see in our next editions. Please email us at fiu.admin@jersey.police.je and use the title TYPOLOGIES.

23 January 2023

Please be advised that on the 1 February 2023 Jersey FIU is updating the online reporting tool (POLSAR) in respect of the type of Legal Person/Legal Arrangement.

This is in line with the Government of Jersey definitions - Legal persons and arrangements (LPAs) (gov.je) and we refer you to Section 3 of the POLSAR User Manual in respect of the updated process.

This document can be found in the help section in the top left-hand corner of the POLSAR site after logging in.

If you are a user of the online POLSAR and need help with your username and password, please contact fiu.admin@jersey.police.je with the subject LOGIN.

3 October 2022

Quad Islands sign MOU with UK’s JMLIT+

Jersey is a member of the Quad Island Group of FIU’s and is pleased to announce the signing of an MOU with the UK’s JMLIT+ group.
Being part of this public, private, partnership (PPP) will enhance our international cooperation in the fight against financial crime.
See more HERE

22 July 2022

New Interim Head of Jersey Financial Intelligence Unit (HoFIU) appointed

As of Monday 18th July 2022 Detective Inspector Louise Clayson has now taken over as the interim HoFIU. She replaces the Acting HoFIU Jason Carpenter who has now left the organisation to take on a new role.

Louise was the HoFIU between 2017 - 2021, before moving roles within SOJP. Louise is now back in post on an interim basis whilst recruitment is underway for a new HoFIU/Director, as part of the broader development and structural changes for the Jersey Financial Intelligence Unit.

20 January 2022

New SAR Template go live date - 1 FEBRUARY 2022

The current SAR Template will be replaced by a new one on the above date. This new SAR Template has been the culmination of collaborative working with a dedicated industry SAR Template User Group and other key stakeholders.

The purpose of the changes will allow for a more detailed, clear and methodical way of reporting of ML/TF suspicion and any requisite consent requests. In turn this will result in the JFIU being able to action suspicion of ML/TF and consent matters in a more expeditious way. It will also allow for better statistical information to be gathered by the JFIU leading to better outreach and engagement with industry of current ML/TF trends and identified typologies.

In contemplation of this important change the JFIU will provide visual instruction through a webinar presentation which will be released shortly taking you through the steps of using the new SAR Template; however, in advance of this and to assist users of POLSAR to transition easier please see the detailed user guide attached to POLSAR which can be found in the help section after you have logged in. In releasing the User Guide early we trust this should assist submitters of SARs to be aware of the changes to the template and further assist in any reviews you may wish to undertake in respect of internal process and procedures with regard to both internal and external reporting.

As we run up to the go live date for the new Template, further information will be placed on POLSAR, use your current login to access the current POLSAR site to review the User Guide which will be on POLSAR from Thursday 20th January 2022. If you have difficulty accessing POLSAR, your login may require refreshing (Please email fiu.admin@jersey.police.je with the subject header: ‘LOGIN’ to have your Login refreshed)

26 August 2021

Latest guidance on Consent FAQ’s (updated - minor amendment 26 October 2021)”

Please click HERE to see the latests updated advice and guidance regarding FAQ on Consent matters to assist our colleagues in industry in preparation of reports to the FIU. You can also download this document from the list below. 

9 November 2020

Click HERE to read an important update on Article 32(4) consent requests for industry. (9 Nov 2020)

FatF Group latest Best Practice related to Beneficial Ownership guidance

FatF Report Virtual Assets Red Flag Indicators of Money Laundering and Terrorist Financing 

Click HERE for updated information related to Beneficial Ownership 

Click HERE for the latest update from MoneyVal Council of Europe on Money laundering and terrorism trends linked to COVID.

18 May 2020

Response letters to Change

The Financial Intelligence Unit would like to advise industry of a change in our process which relates to response letters issued by the FIU in respect to SARs and MIRs that it receives. This change will take effect from Monday 1st June 2020.

The change will see the current response letters replaced by an email that has the text of the appropriate response within the e mail. No longer will the email attach a copy of the response letter.

This change remains compliant with the duties of the FIU to respond to the receipt of a submission under the Proceeds of Crime (Jersey) Law 1999 and should make the receipt and storage of such responses easier for all parties.

Jason and Michael are happy to address any concerns or issues with regard to this change and can be contacted on 01534 612679 or 01534 612188 respectively.

11 May 2020

The FIU would like to bring to your attention a recent paper issued on 4 May 2020 by FATF (Financial Action Task Force) titled “COVID-19-related Money Laundering and Terrorist Financing - Risks and Policy Responses”.

This important document looks at the coordinated and timely response to the impact of the COVID-19 crisis on global anti-money laundering (AML) and counter terrorist financing (CFT) efforts. Importantly, the paper identifies challenges, good practices and policy responses to new money laundering and terrorist financing risks, threats and vulnerabilities arising from the crisis.

Where not already done so, the FIU suggests local Financial Institutions take time to review the content of this paper, a link to which can be found below: 
https://www.fatf-gafi.org/publications/fatfgeneral/documents/covid-19-ml-tf.html

18 February 2020

The FIU would like to draw your attention to the below link, regarding changes to the Money Laundering Order including the SAR template.

The FIU are currently updating the SAR template and a working group of MLROs will be assisting in this process. 
https://www.jerseyfsc.org/news-and-events/updates-to-the-amlcft-handbook-for-regulated-financial-services-businesses/

Recent Publications of Interest

Please see the download list below for latest updates from EGMONT.


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