Updated AML/CFT Handbook published
The Isle of Man Financial Services Authority has updated its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Handbook (“the Handbook”).
Updates include:
- Revised guidance around Commercially Exposed Persons (“CEPs”)
- Clarifications on the Business Risk Assessment and Technology Risk Assessment being recorded in a single document.
- Clarifications on introducers
- Dates relating to the National Risk Assessment have been updated throughout
- Links to the Island’s Customs and Immigration Division website have been updated
Clean and tracked changes versions of the updated Handbook are available on our website.
Updated Handbook – clean version
Updated Handbook – tracked changes version
Lucy Hendy, Senior Manager in the AML/CFT Supervision Division, said: “Following feedback from relevant persons and industry associations and bodies, the Authority has made some updates to the AML/CFT Handbook. Primarily, the guidance on CEPs has been revised to provide greater clarity and is now incorporated in the Handbook. This replaces the standalone CEPs guidance issued in June this year”.
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 Authority always welcomes feedback on the Handbook, so please send any comments to amlpolicy@iomfsa.im