Legal powers for Guernsey financial crime investigation unit

The new unit was set up to investigate financial crime in Guernsey

A bureau created to strengthen Guernsey's response to financial crime has become enshrined in law.

The new law has established the Office of the Director of the Economic & Financial Crime Bureau (EFCB), the States said.

It also clarified the role of the Financial Intelligence Unit (FIU) to tackle money laundering and terrorism financing, it added.

The FIU fell under the EFCB but worked independently, the States said.

The EFCB has been operating since June 2021 under administrative provisions, but the new law provided clarity around its functions, the government said.

EFCB director Kevin Davis said the bureau's new legal status was "a very important milestone" as it "set out and clarified its responsibilities" as a "designated investigative authority".

He added: "Crucially, it makes provision for accessing a wide range of investigative powers and legal remedies that are vital if we are to successfully respond to the financial risks and threats faced by the bailiwick."

The EFCB will also help the island be "as prepared as it can be" for a forthcoming inspection by MoneyVal - the monitoring body of the Council of Europe.

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