Isle of Man Gambling Supervision Commission Announces Update to AML/CFT Guidance

Isle of Man Gambling Supervision Commission has announces an update to its Anti-Money Laundering (AML) and Countering Finance of Terrorism (CFT) Guidance for assets and goods.

The revisions of the documents were developed following workshop consultations with the industry and internally.  The outcomes of these workshops raised several improvements that could be implemented and which the Isle of Man Gambling Supervision Commission have acted upon.  These improvements are:-

  1.  New description of GSC’s AML/CFT inspection process added
  2. Clear definitions of key terms added with explanations for changes in terminology
  3. VA/VG risks identified in the latest IOM National Risk Assessment
  4. Examples of AML/CFT red flags relating to VA/VGs
  5. Guidance on analytics undertaken on factors such as source exposure and hops, with accompanying red flag indicators
  6. Additional resources for further reading
  7. A selection of fictional case studies describing different potential typologies and red flag indicators to be aware of
  8. Updated title and document style to match GSC branding

These revised documents provide all the necessary information to operate a framework for compliance with gambling (AML/CFT) code 2019

The complete document can be found here:

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