New clampdown on money laundering

Car dealers, jewellers and estate agents may have to make sure people buying expensive items or property in Jersey are not trying to launder money.

The island's financial authorities have already tightened the regulations for companies in the finance industry.

Now they are looking at other areas on the high street which could attract criminal money.

The rules will apply to any cash deal that is more than 15,000 euros, the equivalent of about £10,800.

For several years banks, trust companies and other financial institutions have had to comply with strict rules to stop criminals and terrorists using their services to launder money.

Estate agents would be included because of their role in buying and selling property, which is frequently seen as an asset by money launderers.

The States wants to extend current regulations.