Isle of ManThe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism issued a fourth enhanced follow-up report on the efforts made by Isle of Man to strengthen anti-money laundering and counterterrorist financing measures.
The Isle of Man Treasury issued four general licenses to allow certain transactions otherwise prohibited by the jurisdiction’s sanctions regime with respect to Russia.
Australian AML probe of Star Entertainment Group expands, South Africa’s Standard Bank fined by the Isle of Man, and more, in the weekly roundup.
Bank of Cyprus fined nearly $1 million for AML lapses, U.K. gaming operators continue to flaunt compliance rules, and more, in the weekly roundup.
The Isle of Man Financial Services Authority issued a civil penalty of £11,348 discounted by 30% to £7,944 against the regulated entity for self-reported anti-money laundering and counterterrorist financing failures.
The Financial Services Authority issued a discretionary civil penalty of £421,744 discounted by 30% to £295,221 to the Isle of Man-based for anti-money laundering and counterterrorist financing weaknesses it self-reported in 2018.
| 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.
| Rank : N/A |
| Score : N/A |
| Rank : N/A |
| Score : N/A |
| Rank : 43/133 |
| Score : 65/100 |