It's official - money laundering does not take place in Jersey. I know that's true. The Jersey police say so in their 2006 annual report. Look at appendix 3 (which I attach here to assist). You will see that there's been no criminal money laundering reported or detected in the year. Fantastic news, I say, which suggests that the police objective (as noted in the report) of:
maintaining the financial reputation of the Island by investigating money laundering, fraud, drug trafficking and funds used to support acts of terrorism
is clearly working being achieved. So well in fact that no one even tells them what's happening.
Mind you that does leave them to get on with the bigger scale financial crime of the sort the report highlights, such as:
defrauding of potato farmers by a financial controller of a local pack house company.
All's well down in Jersey in that case then. We can sleep easy at night.
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[…] Some questions have been raised about why I reported on the States of Jersey police report for 2006 with regard to money laundering in the way I did. To be honest, I hoped that irony was not a lost art, and that explains my approach in one word, but a more serious issue can, perhaps be raised as well. […]
[…] I’m sure Reg is right. But more important is the fact that if he knows the banks are going to be inundated, why were no such reports (not one) filed last year by a bank in Jersey? Who has not been complying with the anti-money laundering rules to date? Or is it just that they’ve relied on the excuse put forward by Jane Stubbs, tax partner with PWC in Jersey, and an old sparring partner of mine when she said: Technically the banks were not responsible for their customer’s tax affairs […]
[…] not just in the small centres though: as I’ve shown not one of these Suspicious Activity Reports in Jersey related to money laundering. Despite the […]
[…] the evidence? Simply this. In 2006 no one in Jersey – not one person – reported suspicion of money laundering. But tax evasion is money laundering. The JFSC says so. […]
Try – http://www.guernseyfis.org/lib.asp
Page 8 of the Guernsey FIS 2006 annual report. Whilst it does not state tax evasion within the statistics they are within the Fraud / forgery heading which accounts for over 35% of the 500+ reports received by the FIS in 2006
[…] that no other opinion that they could have held by the banks in question. As a matter of fact no such reports were made by banks in Jersey, at […]
Am puzzled as to why Kent Reliance Building Society should be
operating loans businesses in Jersey and in Guernsey ie Jersey
Home Loans and Guernsey Home Loans.
Are Building Societies allowed to do this with their funds ie my
savings ??
Sarah
Yes – they may do that.
Most building societies have ‘offshore’ branches.
It shows how far our mutual world has been corrupted
Richard
[…] we can entrust accountants to not report tax evasion in places like Jersey (not one accountant reported suspected money laundering from tax evasion in Jersey in 2006 – a statistic I find […]
[…] 2) You associate with people who don’t comply with the law; […]
[…] reference to the Crown Dependencies is, I hope, ironic. As I have shown, in Jersey not a single report of suspect money laundering was reported in 2006. It’s not a standard to aspire […]
[…] low (one in Jersey in 2007, none in 2006 when not a single suspicious money laundering transaction was reported to the police) that a sign might as well be put out over these places saying ‘money launderers welcome […]
[…] of Lloyds TSB. I’ve also said it of Barclays, RBS, HBOS and HSBC. We know they have all systemically ignored reporting their clients in the UK Crown Dependencies who have refused to exchange information with […]
[…] of Lloyds TSB. I’ve also said it of Barclays, RBS, HBOS and HSBC. We know they have all systemically ignored reporting their clients in the UK Crown Dependencies who have refused to exchange information with […]
[…] And yet I can say with near certainty that no bank’s money laundering officer has formed this opinion. My evidence comes from the Jersey police report for 2006 that showed that during that whole year not a single suspicion of money laundering was reported to the police in that place and unsurprisingly as a result not a single case was detected. I have blogged this here. http://www.taxresearch.org.uk/Blog/2007/03/02/jersey-officially-a-money-laundering-free-zone/ […]
[…] And yet I can say with near certainty that no bank’s money laundering officer has formed this opinion. My evidence comes from the Jersey police report for 2006 that showed that during that whole year not a single suspicion of money laundering was reported to the police in that place and unsurprisingly as a result not a single case was detected. I have blogged this here. http://www.taxresearch.org.uk/Blog/2007/03/02/jersey-officially-a-money-laundering-free-zone/ […]