Island's MONEYVAL assessment to take place next year

The effectiveness of the Island's defences for combatting financial crime will be put under the spotlight next year.

MONEYVAL - the committee of experts on the evaluation of anti-money laundering measures and the financing of terrorism - has confirmed it will conduct an on-site inspection in October 2026.

Preparations are said to be ‘well advanced’ across multiple government agencies and industry involvement will be stepped up in the second quarter of the year.

The outcome of the MONEYVAL report is said to be ‘crucial’ to the Island’s continued economic success and reputation as a well-regulated international finance centre.

Jane Poole-Wilson, Deputy Chief Minister and AML/CFT lead, said: “Countering financial crime is a constant year-round commitment for this government.

“We take our responsibilities in protecting our communities and businesses from criminality seriously.

“The MONEYVAL evaluation in 2026 is an opportunity to showcase our continued efforts to remain a trusted and responsible member of the global community.

“Government cannot secure a positive outcome alone.

“That’s why I am keen to ensure effective collaboration between industry, the government and the financial services regulator.

“We are driving a robust and co-ordinated national response which will demonstrate the integrity of the Island’s financial systems and maintain our long-standing track record of compliance with international standards.”