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.
New survey to gauge how confident businesses are
A new government survey's been launched to measure business confidence on the Island.
Tynwald to consider scrapping some government agencies
Should government agencies in the Department for Enterprise be scrapped?
Bank deposits up by nearly £3 billion on last year
The Island's finance regulator says almost £3 billion more has been placed in banks here than this time last year.
Island sanctions Israelis for Palestine human rights breaches
Two Israeli individuals and three companies have been added to the Island's sanctions list over their involvement in human rights breaches against Palestinians.
Last chance to give government your views on high streets
There's still time to let a government body know what you think about the Island's town and city centres.
Regulator releases new anti-money laundering guides
The Financial Services Authority has released a series of guides to help companies understand new anti-money laundering guidance.
New advice for businesses on company ownership laws
An Island regulator has released new guidance about laws which make it easier to identify who owns and controls companies.
Are you loyal to your bank?
Can you help a market research company understand customer loyalty on the Isle of Man?
