The Association of Guernsey Banks has joined forces with the Guernsey Financial Services Commission, the States authorities, and the Financial Intelligence Service as part of a new initiative to prevent money laundering and identity theft.
In a leaflet detailing measures which can be taken to prevent money laundering, terrorist financing, and other criminal activities, the Association urged bank customers in Guernsey to comply with requests to provide additional documentation proving their identity, if called upon to do so.
Speaking to the BBC this week, AGB chairman, Peter Symes explained the reasoning behind the initiative.
"Identity theft is on the increase and the banks want to be law-abiding and make sure they open accounts for people who are who they say they are and not someone who is pretending to be them," he announced.
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