Horsepool Consulting Limited

Providing regulatory support to financial services businesses in Guernsey. Specialists in compliance and AML requirements set by the GFSC.

[Horsepool Consulting Limited @horsepoolgg]

Gibraltar has been added to the FATF's 'grey list' - only a matter of time before it's removed from @TheGFSC Appendix C list?

[FATF @FATFNews]

Gibraltar has entered the FATF’s Jurisdictions under Increased Monitoring list, often referred to as the 'grey list', following the conclusion of the FATF Plenary in Berlin.

See the full update here➡️ https://t.co/mGmrGMJ2Ie

#FollowTheMoney

[Horsepool Consulting Limited @horsepoolgg]

A rather shocking development for a locally based online gambling firm, with systemic failures not only to implement AML requirements, but also to look after their customers.

Full statement can be found here: https://t.co/alnTXwmTGv

[Guernsey Press @GuernseyPress]

Jumpman Gaming has agreed to pay £500k to the UK betting regulator after admitting breaching anti-money laundering and social responsibility requirements.

https://t.co/GMnLY0v37K

[FATF @FATFNews]

Are countries successfully tackling money laundering & terrorist financing? A new FATF report gives a comprehensive overview of global efforts to tackle these issues. The report outlines what is going well and where countries need to improve. See more ➡️ https://t.co/4Te6slGmYF

[FATF @FATFNews]

In case you missed it... tougher global rules to tackle anonymous shell companies and updates to jurisdictions under increased monitoring – just two of the outcomes from the FATF Plenary last week. See the full update here➡️https://t.co/KVw5OF2azj #FollowTheMoney

[Horsepool Consulting Limited @horsepoolgg]

This Friday's post is about the 2021 Cyber Security Rules one year on. Are you doing enough to make sure you understand the risks involved?
https://t.co/yo3FBNCtFN

[Horsepool Consulting Limited @horsepoolgg]

Happy Friday!🍾
Kicking off a new series of articles on core compliance controls, our founder Samantha Horsepool writes on how to build an effective compliance framework within your business.

https://t.co/bbsbYnF2ed

[Horsepool Consulting Limited @horsepoolgg]

Helpful article in demonstrating how difficult it is to recruit in compliance at the moment - although no mention of MLROs who are on the hook if they don't report.

[Guernsey Press @GuernseyPress]

The former Guernsey Association of Compliance Officers chairman has said the number of suspicious activity reports made to Guernsey’s Financial Intelligence Service in 2020 is not indicative of the quality of business in the Bailiwick. https://t.co/TNdRwhOZps

[Guernsey Press @GuernseyPress]

The Guernsey Financial Services Commission said that it would act if evidence was produced against Guernsey-based business, but nothing has been exposed so far. https://t.co/fuHs8Vcjzx

[Horsepool Consulting Limited @horsepoolgg]

Yet another offshore data leak, this time focusing mainly on politicians worldwide. Will be following with interest to see any implications for Guernsey...

[BBC News (UK) @BBCNews]

Everything you need to know about the Pandora Papers

https://t.co/TY1VJqbwAD

[Horsepool Consulting Limited @horsepoolgg]

Investment businesses in Guernsey have now received a letter from FIS to review all SARs since October 2019 and confirm by 30/11/21 any improvements to controls etc.

If you need an independent review of your SARs, confidentially, get in touch!

[FATF @FATFNews]

Only a few days left to provide comments. How can FATF strengthen the international standard on beneficial ownership of legal persons and stop criminals from hiding behind front companies?
Deadline : 20 August👉 https://t.co/IWlEg7OM5k #followthemoney #transparency

[Horsepool Consulting Limited @horsepoolgg]

*Reminder* for Guernsey licensees - the deadline for approval of your compliance against the new Cyber Security Rules 2021 is coming up on 9th August 🙂

[Horsepool Consulting Limited @horsepoolgg]

The GFSC has clarified that the current penalties regime will apply to enforcement cases where wrongdoing occurred both before and after the effective date of the new regime. The statement and current penalties criteria can be found here: https://t.co/Y6xxRqIsBg

[Horsepool Consulting Limited @horsepoolgg]

The GFSC has released a thematic report on Reporting Suspicion - Gsy MLROs should take an interest and review your own practices against the findings here:

Thematic Review on Reporting Suspicion | GFSC https://t.co/KokJdd1QWo

[Horsepool Consulting Limited @horsepoolgg]

Reminder - cob this Friday is the deadline to let the FIS know the results of your review of the quality of any SARs against the guidance 😁

[Horsepool Consulting Limited @horsepoolgg]

Don't forget, if you are a bank or fiduciary licensee in Guernsey, you only have until the end of this month to review the quality of any SARs since October 2019 and provide confirmation to the FIS.

Happy Easter! 😁

[Horsepool Consulting Limited @horsepoolgg]

A jeweller charged with money laundering in Jersey has requested an appeal based on trial by combat... That's new!

[Bailiwick Express @bailiwickxpress]

Jeweller seeking 'trial by combat' | Bailiwick Express https://t.co/TCbogOPgOx

[Horsepool Consulting Limited @horsepoolgg]

Yet another GFSC fine, this time £185,000. Aside from David Merrien's fine which was later repealed, this is the highest ever fine for an individual in Guernsey.

Mr Ian Roger Parry | GFSC https://t.co/2ZSLEP8tE6

[Horsepool Consulting Limited @horsepoolgg]

"When we stop money laundering, we save lives" - Brilliant message from Martin Woods at this morning's webinar from @intcompassoc on SARs.

Every MLRO still has much to learn about this legal minefield, and having resources like this is amazing. Thank you ICA 👍

[Horsepool Consulting Limited @horsepoolgg]

Don't forget, if you are a bank or fiduciary licensee in Guernsey, you only have until the end of this month to review the quality of any SARs since October 2019 and provide confirmation to the FIS.

Happy Easter! 😁

[Horsepool Consulting Limited @horsepoolgg]

Yet more hefty fines coming out from the GFSC today - this time a record breaking £100k fine for a director, together with a ban of 10 years:

https://t.co/nzAWHDX4tb