On 29 November, AML Intelligence reported that the Isle of Man will remain under the group’s enhanced follow-up procedure and is expected to report back in 3 years’ time. This comes after a fourth follow-up report on the Isle of Man, following an AML/CFT mutual evaluation report that was adopted in December 2016. According to MONEYVAL, the Isle of Man retained moderate deficiencies implementing just 1 recommendation – FATF Recommendation 23 – with which the Isle of Man was only “partially compliant”. The report also notes that the Isle of Man’s fifth round MER was adopted in December 2016 and, in line with the rules it was expected that the Isle of Man address most, if not all, of its technical compliance deficiencies by December 2019. As it has done so, the length of follow-up reporting intervals was increased.
https://rm.coe.int/moneyval-2022-13-fur-iom/1680a93100
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