An Island company will pay a £120,000 penalty after admitting failing to maintain anti-money laundering rules.
The Financial Supervision Commission says it inspected Capital International in August 2022 as part of a wider review of parts of the Island's money-laundering code.
The FSC says it found failings in procedures, controls and risk assessments around politically exposed people.
It fined the company £170,851 but applied a 30 per cent discount for Capital International's cooperation.
£20k for 24 days work a year as Steam Packet director
Could you help run the Steam Packet Company?
Popular Douglas cafe up for sale
A café and takeaway in central Douglas has gone on the market.
Company reveals hopes for Swiss Chalet
Work to reopen a landmark former restaurant which has been closed since 2019 is forging ahead.
Premium estate agent launches new license on Island
Premium property agent Fine & Country has launched a new license on the Isle of Man.
Signs approved for estate agent's new office
A local estate agent that's opening a new location in the south has had a planning application approved.
Number of aircraft registered here declining since 2022
The number of new aircraft being registered by the Isle of Man aircraft registry has been declining steadily since 2022.
Post Office profits up by over a million pounds
The Post Office says it's profits rose by more than a million pounds last year.
Information Commissioner partners with Jersey
The Island's information commissioner is joining forces with Jersey to understand the data protection challenges faced by organisations.
