Isle of ManThe Isle of Man Financial Services Authority published sector specific anti-money laundering and counterterrorist financing guidance notes on virtual currency business, as defined under Schedule 4 of the Proceeds of Crime Act 2008.
The Isle of Man’s Financial Services Authority issued a frequently asked questions document aimed at providing advice for consumers regarding the use of cryptocurrency, including information on the customer due diligence requirements.
Mastercard severs ties with Venezuelan lenders, U.S. officials restrict transactions with Cuba, and more, in the weekly roundup.
UK Crown Dependencies Set Date for Wider Access to Beneficial Ownership Databases
Financial institutions vetting firms formed in the U.K. crown dependencies of Guernsey, Jersey and the Isle of Man will have access to government-run registers of beneficial-ownership data by 2022, one year before those governments plan to make the information publicly available.
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| Technical | Effectiveness |
|---|---|
| Compliant : 20 | High : 0 |
| Largely Compliant : 19 | Substantial : 2 |
| Partially Compliant : 1 | Moderate : 6 |
| Non-Compliant : 0 | Low : 3 |
Isle of Man's technical compliance was re-rated in a follow-up report on Sept. 6, 2019.
| Rank : N/A |
| Score : N/A |
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| Rank : 43/133 |
| Score : 65/100 |