The Bailiwick of Guernsey first formed a Financial Intelligence Unit (FIU) in 1989 following the introduction of the first Drug Trafficking legislation that brought about the requirement for suspicious activity reports to be made.

The FIU was a joint Police and Customs & Immigration Service venture which performed well under the collective management of both organisations. However, the officers deployed to the FIU were also required to retain roles and responsibilities within their parent organisations which became more difficult to manage effectively as the demands placed on the FIU increased. These developments prompted a comprehensive Financial Crime Review of Law Enforcement's financial crime strategy and the resources that were allocated to it. The Review concluded that a new strategy was required which would result in resources being dedicated to combating financial crime.

Subsequently in April 2001 the Financial Intelligence Service was created with a set of strategic aims. In 2005 following an internal review of performance, the following strategic objectives were implemented in support of the FIS mission statement:

  • To provide Guernsey Police and Customs & Immigration Services with quality financial intelligence relating to all crime, taking into consideration their strategic objectives
  • To achieve a high level of compliance with relevant international standards expected of financial intelligence units.
  • To actively identify, promote and support the investigation of money laundering offences by local law enforcement teams.
  • To enhance the professional relationship between the financial services industry and the FIS.
  • To actively promote awareness of money laundering vulnerabilities within non financial services businesses.
  • To develop the knowledge and expertise of FIS staff in order to provide effective administration, analysis and investigation of financial intelligence relating to crime and terrorist financing.