Anti-money laundering measures enhanced at offshore centres

Jersey, Guernsey and the Isle of Man have introduced tough new measures to combat money-laundering in a bid to stave off pressure from neighbouring countries which are threatening to impose sanctions unless they tighten up rules and open the information exchange. Although all three financial regulatory commissions already had anti-money laundering regimes which the US, UK and France has decreed were "close to complete adherence", efforts have been increasing to reform the offshore financial market and allow companies and governments to do background checks on assets where foul play and ...