ISLE OF MAN: MONEYVAL AML/CFT PROGRESS REPORT

On 21 September, the Isle of Man published a report on progress which has been made in relation to tackling money laundering and combatting the financing of terrorism, following recommendations made by MOEYVAL after an evaluation undertaken in 2016.  It claims that more than £24 million has been recovered since January 2019 – including confiscations in respect of domestic offences; with £17,904,384 identified as being the proceeds of crime and recovered from a local financial institution in partial satisfaction of the foreign confiscation order. 

https://www.gov.im/news/2020/sep/21/report-reflects-isle-of-mans-progress-in-tackling-financial-crime/

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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