The Economic and Financial Crime Bureau (EFCB) has been set up by Guernsey’s government to investigate money laundering and economic crime, take enforcement action and recover proceeds from unlawful conduct.

The independent entity will use the full range of investigative tools and legal remedies available and overhaul the use of information and intelligence to identify criminal wrongdoing, increase criminal and asset recovery casework, and locate proceeds of crime with a view to confiscation.

The bureau’s director, Kevin Davis, said the EFCB was created to strengthen Guernsey’s approach to tackling financial crime and deal with the threats and risks it faces as an international financial centre.

“In particular, the EFCB will improve Guernsey’s effectiveness in tackling money laundering and help prepare the island for the Moneyval evaluation planned for 2023.” Moneyval is the Council of Europe’s AML/CTF monitoring body.

Various actions planned by the EFCB will “lead to even greater effectiveness in combatting money laundering, terrorist financing and major proceeds-generating offences,” he added.

Deputy Rob Prow, president of the government’s home affairs committee which oversaw the bureau’s establishment, said: “Having robust systems in place in Guernsey to tackle economic crime is crucial to maintaining the island’s reputation on the international stage as a premier finance centre.”


FinCrime World Forum

Only a week away until industry experts come together to discuss, challenge, debate and address financial crime at FinCrime World Forum.

Register now to tune into the “United We Stand The potential for integrated FinCrime teams and control” on June 23 at 2:30pm BST | 3:30pm CEST | 9:30am ET.

Speakers include:

  • Marc Fungard, Global Head of Analytics, HSBC
  • Greg Watson, Chief Operating Officer, Napier
  • Samantha Sheen, Subject Matter Expert, Strategy Operations Advisor, Co-Host “Captivated Audience” Podcast, Ex Ante Advisory Limited‍
  • Garient Evans, SVP, Identity Solutions, Trulioo

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