Regulatory Alerts2025-01-01
Anti-Money Laundering and Countering the Financing of Terrorism Handbook
The Isle of Man Financial Services Authority issued this February 2025 update to the AML/CFT/CPF Handbook to guide supervised entities in complying with the Anti-Money Laundering and Countering the Financing of Terrorism Code 2019. The revision clarifies requirements for Business and Customer Risk Assessments, introduces specific guidance on Commercially Exposed Persons, and mandates explicit consideration of Source of Funds and Wealth during ongoing monitoring. Additionally, the document refines terminology across Money Laundering, Terrorist Financing, and Proliferation Financing to enhance regulatory clarity and operational precision.
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