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Island 'has improved regulations' says Anti-money laundering body

A European anti-money laundering body says the Isle of Man has improved its regulation and enforcement over the last two years.

MONEYVAL evaluated the Island in 2016, and asked officials to report back after taking action to address problems.

The organisation's now re-rated the Isle of Man as "compliant" in six areas including financing terrorism, wire transfers and cash couriers.

Its new report says there are still deficiencies, and the Island will have to report back again within a year.

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