FINANCIAL CRIME STRATEGY FOR THE ISLE OF MAN

On 8 July, the Isle of Man published its 3rd edition of this publication.  It is intended as a comprehensive overview of the Isle of Man’s current position, including recent policy development, while highlighting the dynamic and evolving threat facing governments around the world.  At the core of the strategy are 3 National Strategic Objectives –

  • A focus on new and existing money-laundering threats – identify and take measures;
  • A focus on knowledge and the development of skills to combat identified threats; and
  • Maintaining a high level of compliance with FATF and other relevant standards aimed at tackling money laundering and deliver on international commitments regarding beneficial ownership

It has also published is the Financial Crime Strategy 2017-2020: review of outcomes – June 2021, which looks at the recommended actions from the Financial Crime Strategy 2017-2020 and the outcomes achieved against each one.  Among the measures carried forward are effectively prosecuting money laundering and terrorist financing, and confiscating the proceeds of crime, and reviewing and modernising aspects of the Proceeds of Crime Act 2008.

https://www.gov.im/media/1373450/isle-of-man-financial-crime-strategy-2021-2023.pdf

https://www.gov.im/media/1373449/isle-of-man-financial-crime-strategy-2017-2020-review-of-outcomes.pdf

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y

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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