How Jersey measures up on tackling money laundering and terrorist financing has been highlighted in the newly published annual report from Europe’s chief financial crime watchdog.
The 2024 review from MONEYVAL summarises progress across its 33 member states and territories – including Jersey, which, alongside Guernsey and Bosnia and Herzegovina, completed a full evaluation in 2024.
MONEYVAL said jurisdictions such as Jersey had generally performed strongly in areas including international co-operation, beneficial ownership transparency, and supervision of financial institutions – areas that have been central to the Island’s long-running efforts to maintain its reputation as a well-regulated finance centre.
However, the report also emphasised persistent global weaknesses across the membership, particularly in the investigation and prosecution of money-laundering offences, asset confiscation, the use of financial intelligence, and oversight of non-financial professional sectors such as lawyers, accountants, estate agents and dealers in precious metals and stones.
Jersey is due to report back to MONEYVAL under its regular follow-up reporting process in December 2026, the report said.
MONEYVAL noted widespread improvements in technical compliance in recent years, with its members receiving 193 upgrades to their ratings during the fifth round follow-up process, compared with just nine downgrades linked mainly to risks arising from new technologies and business models.
How does Jersey measure up compared to other jurisdictions assessed by Moneyval?
The table below shows how the Island marked in key areas, compared to other assessed jurisdictions: Guernsey, Bosnia and Herzegovina, Bulgaria, Croatia, Estonia, Georgia, Gibraltar, Holy See, Hungary, Republic of Moldova, Monaco, Poland, San Marino and the Slovak Republic. Click to enlarge.
Chair Nicola Muccioli said jurisdictions must keep pace with shifting geopolitical tensions and rapid technological change.
“As the global landscape evolves, new challenges and opportunities emerge in fighting against money laundering, the financing of terrorism, and proliferation financing,” he said.
“In an era marked by geopolitical shifts, diminishing multilateralism and rapid technological change, it is vital to continue improving the effectiveness of the legal and institutional frameworks to prevent and prosecute money laundering and terrorist financing.”
The publication also marks the start of MONEYVAL’s sixth evaluation round, making it the first FATF-network body to launch the new global assessment cycle.
Latvia was the first jurisdiction assessed under the updated standards, with further reports on Serbia, Slovenia and Armenia due next.
