The hazards posed by higher-risk "emerging" countries have prompted the Jersey Financial Services Commission (JFSC) to introduce changes to the island's anti-money laundering regime which will take effect from next month. In a feedback statement the JFSC confirmed changes to the anti-money laundering regime which will take effect from February 1. The new-look regime attempts to deal with evolving threats that Jersey firms face from various countries around the world, and to set out the circumstances in which they should apply enhanced customer due diligence (CDD) measures. Andrew Le Brun, director, Office of the Director General, said that the review had been sparked in part by the island's anti-money laundering strategy group's realisation that, since the downturn in Europe and other more traditional markets, firms had begun to look further afield for new clients, and in particular towards "emerging" markets such as Brazil, Russia, India and China. This posed risks for businesses,
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