An Island company has been hit with a civil penalty of almost £2 million by the financial regulator over due diligence and risk assessments.
RL360 was inspected by the Financial Services Authority, which says it found problems in measures to tackle money-laundering and monitoring high-risk customers.
The FSA imposed a penalty of £2,785,714, discounted to £1,950,000 after the company cooperated with the investigation.
The regulator also issued four learning points for the industry.
Island firm named Trust Company of the Year
An Island-based firm has been named Trust Company of the Year at an awards ceremony in the Middle East.
Businesses invited to Southern Agricultural Show
Would your business like to be part of one of the Island's biggest annual events?
New gym being launched in historic church
A new gym has offered a sneak peek inside the church where it's setting up shop.
Construction careers fair next month
An event in Braddan next month will showcase opportunities in the Island's construction sector.
Regulator asks businesses for info to fight financial crime
The Gambling Supervision Commission's calling on businesses to give information which helps fight money laundering and terrorist financing.
Chamber of Commerce wants members for election task force
The Island's chamber of Commerce is asking its members to sign up for an election task force to shape government policy.
Bank deposits rose over past year
The amount of money deposited in Island banks has risen over the past year, according to the Financial Service Authority's latest statistics.
Innovation and Investment forum expands to Island
A new innovation and investment network is being launched in the Island.
