FURTHER changes are to be made to the Island’s anti-money laundering laws.

The amendments to the Money Laundering Order will affect not only finance businesses but also accountants, lawyers and estate agents and any other business dealing in high-value goods. The latest changes are due to come into force next month and tighten up the existing legislation, which has been effective since February.

Andrew Le Brun, international and policy director at the Jersey Financial Services Commission, explained that the updates were particularly important in view of the International Monetary Fund assessment due to start this week. ‘The spirit of the law is probably already happening, but it is vital that we can point to where it is set out in the law, because that is the approach that the IMF is taking,’ said Mr Le Brun.

The commission have published a position paper on their website which provides the full details of the amendments. They held seminars last month to explain how the law will affect practitioners and also consulted a steering group.