The Isle of Mans financial unit report on improvements in the prevention of financial crime in 2021/22
The IOM financial intelligence unit has posted their yearly report containing details of their improvements for the next year.
They plan to continue working closely with the FSA and provide feedback and support to AML/CFT regulation. Along with an increased focus on collaborative efforts with the cabinet office to measure compliance/effectiveness against FATF standards.
There is a focus from the FIU to develop public private partnerships in 2021/22 as they recognise the skills and knowledge of the regulated sector and use that to combat money laundering and terrorist financing on the Isle of Man. They also aim to pursue relationships with the UK JMLIT.
Link to the report