The June Order Paper for the Tynwald, the Isle of Man’s parliament, includes the Proceeds of Crime Act (Compliance with the International Standards) (No.2) Order 2019.  The amendments are said to seek to address 2 issues which have been identified as adversely impacting the Islands progress towards meeting recommendations made in MONEYVAL’s Mutual Evaluation Report (MER) on the Isle of Man in respect of restraint and confiscation of the proceeds of crime.  The Order introduces a requirement whereby the High Court can seek update reports from the applicant for a restraint order to ensure that the order is being actively managed and that investigations are progressing.  The civilian financial investigators employed by the FIU and Asset Recovery Unit are to have extended activities for which they may have responsibility, specifically within the area of dealing with the proceeds of crime – and i order to undertake this role a financial investigator must be formally authorised in writing to do so by the Attorney General or the Chief Constable.   The Act is amended in respect of the restraint of assets to replace the term “reasonable cause to believe” that assets may be linked to crime with a lower standard of proof – “reasonable grounds to suspect”.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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