Guernsey Country Summary
Sanctions
No
FATF AML Deficient List
No
Terrorism
Corruption
US State ML Assessment
Criminal Markets (GI Index)
EU Tax Blacklist
Offshore Finance Center
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF Status
Guernsey is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
It should be noted that the new style FATF Mutual Evaluation has not yet been published.
The last follow up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Guernsey was undertaken by the Financial Action Task Force (FATF) in 2016. According to that Evaluation, Guernsey was deemed Compliant for 28 and Largely Compliant for 20 of the FATF 40 + 9 Recommendations. It was Partially Compliant or Non-Compliant for 0 of the 6 of the Core Recommendations.
Sanctions
There are no international sanctions currently in force against this country
Bribery & Corruption
| Rating | 0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | NA |
| World Bank: Control of Corruption Percentile Rank | NA |
Economy
Guernsey's economy is a high-income one, primarily driven by financial services, which contribute approximately 37% to its GDP. The island has demonstrated resilience with a real GDP growth rate of 7.81% in 2022, recovering from the impacts of the COVID-19 pandemic, while maintaining a stable inflation rate and an independent taxation authority.
Guernsey's investment climate is strengthened by its status as an offshore finance center, which attracts private equity funds due to favorable tax regulations, including no capital gains or inheritance taxes. The island enjoys a strong credit rating of AA-/A-1+ from Standard & Poor's, indicating financial stability and a well-regulated financial services sector overseen by the Guernsey Financial Services Commission.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings
