In accordance with its policy of upholding Guernsey's integrity as an international finance centre, the Commission, from time to time, issues cautionary notes to institutions and to the international financial press.
The latest note warned local financial institutions about becoming involved in financial transactions with the Seychelles following its introduction of an Economic Development Act explicitly offering immunity to money- launderers in contravention of the Forty Recommendations of the Financial Action Task Force.
Through a Press Notice to insurance publications the Commission has also warned insurers and insurance brokers against doing business with either Kendalman Risk Management Ltd or Kendalman Insurance Company AVV. Both wrongly claimed to be Guernsey companies authorised to write insurance business in or from the Island.
Warnings of potential fraud have been widely circulated, too, in respect of international promotions for investments in non- existent, so-called "prime bank" notes, guarantees, letters of credit and similar instruments.
NEW E-MAIL AND INTERNET ADDRESS
Please note: The Financial Services Commission has a new E-mail address which is info@gfsc.guernsey.net and its information site on the Internet can now be located on http://gfsc.guernsey.net
However, http://www.itl.net/go/to/GuernseyFSC will remain active for the foreseeable future.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
For further information contact Peter Crook on Tel: +44 (0) 1481 712 706 or fax: +44 (0) 1481 712 010.
Visit the Guernsey Financial Services Commission Web Site at Click Contact Link
