A financial ‘check’ on my £42 is a nonsense

Tuesday 29th March 2011, 3:00PM BST.

From Mike Pitman.
I HAVE had a shareholder account at the Channel Islands Co-operative Society for 39 years. I have lived in Jersey all my life and I have been at virtually the same address for 28 years.

To the best of my knowledge, I have no criminal record. I tried recently to pay £42 – that’s forty-two pounds, not four thousand or four million pounds – of Co-op stamps (stamps, note, not cash in used notes) into my account but I have been refused, because the Jersey Financial Services Commission demands photo identity before I am permitted to undertake this simple and rather unimportant transaction.

Through your columns, may I ask the commission to let us know how many money-launderers they have captured dealing in Co-op stamps since they introduced this piece of nonsense?


  1. 1
    Michael

    Brilliant Jersey bureaucracy at it very best over paid civil servant’s sack the lot of them, get rid of them all especially the top level where most of the incompetency is situated

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  2. 2
    DAVE

    i changed 35 euros at the post office last year and had to give my name and address!!!!!

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  3. 3
    Sanity

    No doubt somebody from the Commission will respond along the lines that “it is up to each individual company what checks they choose to take”. In truth it is because despite the many millions of pound the Commission leach from our economy on all the obligatory permit fees, they refuse to take any responsibility or give any clear guidance. Nor can they even be held accountable for their actions no matter how incompetent.
    In all fairness to the person at the Coop they face a long prison sentence and having all their assets confiscated should they be caught out “assisting in the crime of money laundering” and under the financial services law they will be assumed guilty. In most instances the “innocent” clerk ends up with a far greater sentence than the criminal who is assumed innocent and with the benefit of legal aid will probably just get told off – but then that’s our modern excuse for justice. Therefore without any clear guidance from the Commission you can’t blame the Coop or any other financial company from insisting on all possible safeguards.
    The most notable aspect is the deafening silence from our human rights lobbyists in the States on such issues but perhaps these issues are far too complicated for most of our current representatives.

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  4. 4
    Mark G

    Better get my £2 co-op stamps in now before they start requesting DNA!

    Theres no doubt that money laundering is serious but £45?

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  5. 5
    Osama bin Nowhere

    Ah, evil infidel dogs. You have discovered and foiled my latest plan for the destruction of the western capitalist world.
    Each week, my highly trained operatives purchase food from your evil co-co stores. We use many stores in order that a man arriving in a battered Toyota pickup wearing a headscarf will not cause suspicion.
    Using your generous dividend scheme we convert ill gotten terrorist gains into stamps which we save up and then convert back into western material goods such as washing machines and dishwashers.
    Opting for the full 3 year warranty scheme and knowing that the machine will fail one day after this expires we can smuggle carefully concealed weapons grade plutonium into the UK when they are sent back for repair.
    May the fleas of a thousand camels infest the armpits of these very smart people at the commission for ruining my plans.

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  6. 6
    joker

    Michael #1

    Either you’ve posted to the wrong article, or you don’t have a clue. The JFSA are not civil servants, they are independent of the government.

    Besides this KYC nonsense has come about from pressure outside of Jersey, not from within.

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  7. 7
    Sanity

    Joker – technically you are correct but that’s as far as any distinction goes. Like so many Civil Service posts these have been “outsourced” and instead of taxation we have compulsory permit fees. The principle disadvantage is that these former “civil servants” have been allowed to grossly overinflate their salaries whilst maintaining the same second rate service. They are now completely unaccountability to government or the people of Jersey and have even managed to pass a law to ensure they can’t even be held to account to the courts for their actions no matter how incompetent they act.
    “Financial Service Commission (Jersey) Law 1998: No person or body to whom this Article applies shall be liable in damages for anything done or omitted in the discharge or purported discharge of any function under, or authorized by or under, this Law or any other enactment unless it is shown that the act or omission was in bad faith.”
    As far as outside interference goes the likes of FAFT are also Civil servants who have been charged with setting guidelines as to the perfect compliance model disregarding human rights, person freedom and privacy etc. These it is expected that each Government will consider these issues prior to implementing legislation so that each jurisdiction has a balance between regulation and personal freedom.
    Unfortunately due to the complete incompetence of our Government we have ended up with a load of self important imports, who for twice what anybody else will pay them have created an ever expanding empire that has stifled our local finance industry, diverted taxable profits towards their own coffers and remain completely unaccountable for their actions, politically and legally. Perhaps now that their tentacles’ have reached out beyond the financial services industry to blight the lives of ordinary Islanders somebody will stand up and bring this monster to heal.

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  8. 8
    Knew Blight

    I suppose thay had to make sure you weren’t laundering Curtis Warren’s Co-Op stamps Mike.

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  9. 9
    Michael

    Sanity 7 Thanks, I hope Joker reads your excellent letter it may educate him but I doubt it Joker is a joke sounds good!!!

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  10. 10
    Leah Holmes

    Oooops, my boyfriend hasn’t paid his in since he opened his account over a decade ago!!!!!!

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  11. 11
    joker

    Michael

    Well Sanity’s letter didn’t educate you – a big fail on comprehension I’m afraid.

    For starters Sanity begins with:

    “Joker – Technically you are correct.”

    Then Sanity refers to ‘civil servants’ with speech marks meant with a sense of irony. In other words they are not really civil servants and they are not on the civil service pay roll nor do they have the same employment terms and conditions. Most of the people that work there have never worked for the government. So feel free to criticise the JFSA as much as you like but calling them civil servants is simply wrong.

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