GIFA Academy Event – MONEYVAL: An Introspective

MONEYVAL is a body of the Council of Europe based in France, and Guernsey is one of 35 European and other countries and jurisdictions that are part of the MONEYVAL purview.

MONEYVAL evaluates both technical measures and, importantly, the effectiveness of measures taken in the financial, regulatory and criminal justice sectors to combat money laundering and terrorist financing, and make recommendations to improve the AML/CFT system.

If a jurisdiction fails a MONEYVAL inspection they can expect to move onto the Financial Action Task Force’s (FATF) grey list. A negative report can lead to the jurisdiction as a whole becoming less enticing as a place to for financial services businesses to operate and develop and to investors.

The introduction above will probably be familiar to you but we are delighted to welcome Fiona Crocker (bio is below) to provide further insight into the workings of MONEYVAL particularly as how those may apply to Guernsey.

The event is being held at Les Cotils on Wednesday 18 January, 2023 commencing at 0830. Bacon roll and beverages will be provided. If you wish to attend the event, please register here.

Fiona joined the Commission more than 20 years ago working in the investment and fiduciary divisions. She took up the post of Director of the Financial Crime Division in 2014. She has had FATF training on mutual evaluations and undertaken evaluations of jurisdictions for MONEYVAL and the Group of International Financial Centre Supervisors.