Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL)

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JANUARY 27 2017

In its new report published today, MONEYVAL praised the authorities of the Isle of Man for the effective coordination of anti-money laundering/countering the financing of terrorism policies. In addition, it is commended the authorities’ thorough understanding of money laundering and financing of terrorism vulnerabilities, which lie within the national institutional and legal framework. The report analyses the implementation by the United Kingdom Crown Dependency of the Isle of Man of international standards on money laundering and financing of terrorism since the last evaluation in 2009, and recommends an action plan to address the shortcomings. The Isle of Man is to report back to MONEYVAL at the first Plenary in 2018 about the implementation of its recommendations under enhanced follow-up procedures.