Isle of Man

New Documents

The Isle of Man Financial Services Authority published a guidance aimed at helping licensed institutions with their regulatory obligations, including compliance with anti-money laundering and counterterrorist financing requirements.  

The Isle of Man Financial Services Authority highlighted recently published notices on new and updated information regarding the sanctions regimes for Iraq, Belarus, the Democratic Republic of the Congo, South Sudan, Somalia, Iran, and sanctions targeting violations of Global Human Rights.


Enforcement Actions

0 Items Found

Important Facts

  • The U.S. State Department labels Isle of Man as a jurisdiction of primary concern. The Isle of Man has its own parliament, government and laws, but the United Kingdom remains constitutionally responsible for its defense and international representation because it is a British Crown dependency. Key sectors of the economy include offshore banking, manufacturing and tourism. The government offers incentives to high-technology companies and financial institutions that locate on the island. Its large and sophisticated financial center is potentially vulnerable to money laundering. Most of the illicit funds in the Isle of Man originate from fraud schemes and narcotics trafficking in other jurisdictions, including the United Kingdom. Identity theft and internet abuse are growing segments of financial crime activity.
  • KYC Covered Entities: Banks; building societies; credit issuers; financial leasing companies; money exchanges and remitters; issuers of checks, traveler’s checks, money orders, electronic money, or payment cards; guarantors; securities and commodities futures brokers; portfolio, and asset managers; estate agents; auditors, accountants, tax advisors, lawyers, and notaries; insurance companies and intermediaries; payroll agents; casinos and bookmakers; high-value goods dealers and auctioneers; safe custody facilities for cash or liquid securities
  • STR Covered Entities: All businesses
  • Enhanced Due Diligence Procedures for PEPs: Foreign: Yes; Domestic: Yes
  • Money Laundering Criminal Prosecutions/Convictions: Prosecutions: 4 (2014); Convictions: 3 (2014)
-Source: 2016 International Narcotics Control Strategy Report(INCSR)


FATF i | 2013 Methodology

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 Oct. 23, 2020.


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Tax Justice Network i

Rank : 43/133
Score : 65/100