September 6 2019
As a result of the Isle of Man’s progress in strengthening its framework to tackle money laundering and terrorist financing since its mutual evaluation report in December 2016, MONEYVAL has re-rated the country on three Recommendations originally rated as “largely compliant” and one Recommendation originally rated as “partially compliant”.
The Isle of Man was placed in an enhanced follow-up process, following the adoption of its mutual evaluation report, which assessed the effectiveness of the Isle of Man’s anti-money laundering and counter-terrorist financing (AML/CFT) measures and their compliance with the Recommendations by the Financial Action Task Force (FATF). The Isle of Man had previously submitted its first enhanced follow-up report in July 2018. In line with MONEYVAL’s rules of procedure, the jurisdiction has submitted its second enhanced follow-up report to MONEYVAL on the progress it has made to strengthen its AML/CFT framework.
