The regulatory obligations of a business in the regulated sector includes undertaking a business risk assessment from an AML/CFT perspective. If your business targets Isle of Man based customers then we feel that the Chief Constable’s Annual Report is a ‘must read’.
Understanding trends in criminality will help you to understand the money laundering risk your business faces. This increased understanding may help you design controls to identify potential proceeds of crime.
If nothing else, it is an interesting and captivating read, but also at times, worrying.
Link to the constable’s report