Regulatory Alerts2023-01-01
Anti-Money Laundering and Countering the Financing of Terrorism Handbook Updated December 2023
The Isle of Man Financial Services Authority issued this updated AML/CFT Handbook to assist supervised entities in complying with the Anti-Money Laundering and Countering the Financing of Terrorism Code 2019. The December 2023 revision clarifies requirements for Business and Customer Risk Assessments, introduces specific provisions for introduced business, and reinforces obligations for licensed persons under the Financial Services Act 2008. Key updates also address sanctions compliance, Public-Private Partnerships with the Financial Intelligence Unit, and the maintenance of detailed records to support regulatory statistical returns.
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