AML Handbook Updates (Press Release)

The Isle of Man Financial Services Authority (the Authority) has made some updates to its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Handbook (the Handbook).

Revisions include, but are not limited to:

• Updated guidance on De-risking.
• Guidance added around Complex Structures
• Guidance added around High-Net Worth Individuals
• Additional guidance added around Source of Funds and Source of Wealth
• Additional guidance added around ECDD
• Additional guidance added around Commercially Exposed Persons
• New chapter created for Sanctions Compliance guidance

Together with the Supplemental Information Document and sector specific AML/CFT guidance, the Handbook forms an important part of the Authority's programme of outreach and engagement to help Island firms meet their AML/CFT obligations.

Regulated entities and designated businesses are encouraged to read the information and take the appropriate actions to mitigate their money laundering and terrorist financing risks.

The revised AML/CFT Handbook can be found on the Authority's website here.

The Authority always welcomes feedback on the Handbook, and any comments should be sent to [email protected]