Government highlights progress and next steps in combatting financial crime

The Isle of Man Government is advancing a robust and coordinated national response aimed at protecting the Island from the threat posed by organised crime.

The 2025 Countering Financial Crime Conference, taking place at the Villa Marina on 3 September 2025, will showcase international developments and emerging risks, as well as providing an opportunity to reflect on the progress achieved in the Island since last year’s event.

Jane Poole-Wilson MHK, Deputy Chief Minister and AML/CFT Lead for the Isle of Man Government, said: ‘The Island is not immune to the threats of transnational crime, and we must remain vigilant to safeguard our communities and businesses from harm. The improvements made over the past 12 months demonstrate that the Isle of Man remains hostile to financial crime and will act decisively to address any vulnerabilities.’

She added: ‘We take any attempt to exploit the Island’s financial and immigration systems extremely seriously. We do not tolerate the use of the Island for criminal activity and will not hesitate to take the appropriate action against those responsible. Collaboration between industry, government agencies and regulators is critical to maintaining the Island’s reputation as a well-regulated international finance sector and an outstanding place to do business.’

Action taken in recent months towards meeting the ambitions of the Isle of Man Financial Crime Strategy 2024-26 includes measures to enhance immigration processes and to strengthen supervision, investigation and enforcement capabilities across multiple government agencies.

Frameworks to combat money laundering, terrorist financing and proliferation financing (ML/TF/PF) are also being reviewed and updated as part of ongoing efforts to maintain the integrity of the financial services sector.

Sessions at the Conference will highlight improvements in the collection and analysis of data, and the increased focus on risk monitoring and cross-agency collaboration to ensure intelligence is shared in a timely and effective manner when issues are identified.

Dissuasive action continues to be taken where it is considered reasonable, appropriate and proportionate to do so, as law enforcement agencies and regulators seek to disrupt potentially harmful activity. The intention is to demonstrate the effectiveness of the Island’s ML/TF/PF regime and continue to provide an environment that supports new and existing business.

Planned enhancements to outreach activity will keep the business community informed of developments, including work to update the Island’s National Risk Assessment (NRA) and preparations for the MONEYVAL evaluation in 2026. In addition to the annual Conference, additional outreach will include industry forums, workshops and presentations to encourage positive engagement between the public and private sectors, including non-profit organisations.

Events will be supported by a suite of publications and guidance setting out expectations and assisting Island firms to ensure their own compliance regimes are up to date and properly documented.

In this regard, a National Risk Appetite Statement (NRAS) was published in May 2025, setting out the requirements for Island businesses to evaluate and manage their risks in respect of the e-gaming sector and related industries. This marks the first step in broader efforts to refine and refresh the Isle of Man’s NRA in relation to financial crime.

Further investment to support the Island’s zero tolerance approach has enabled the government to engage leading financial crime practitioners and policymakers. These officers are assessing frameworks, identifying any vulnerabilities, and working with stakeholders to ensure the Island remains compliant with international standards and is in the best possible position ahead of MONEYVAL, while also maintaining a robust and sustainable AML/CFT framework that extends beyond the evaluation itself.

Further information:

The Gambling Supervision Commission has shared a summary of its recent activities in an update titled ‘Striking A Balance’ published on its website.