Jersey No Safe Haven For Money Launderers, Bailiff Tells French

by Robert Lee, Tax-News.com, London

01 July 2003

Sir Philip Bailhache, Bailiff of Jersey, was in France at the weekend where he attempted to convince French politicians that the island was no safe haven for tax dodgers and money launderers.

The Bailiff was speaking at the annual joint meeting of States Members and members of the Conseil General de la Manche where amongst other subjects, he referred to a 2001 French report on the Channel Islands that concluded the finance industry there was still susceptible to money laundering.

"It was unfair and untrue," stressed Sir Philip. "But the effect of such reports is to perpetuate the myth that Jersey is a weak link in the defence against organised crime."

Bailhache continued: "Jersey is not a safe haven for drug traffickers or money launderers or tax evaders. In fact, we have a sophisticated range of legislative controls and, more importantly, the means and the will to enforce them."

Though Sir Philip said he did not want to dwell on dispelling the myths surrounding the Jersey finance indusrty in continental Europe, he hoped that by using the forum of the Consiel, his words would soon begin to filter back to the authorities in Paris.

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