Updates to money laundering rules

Thursday, 31 October 2024 08:40

The Island's financial regulator says it's brought in changes to the Island's rules on money laundering and terrorism financing.

The Financial Services Authority says the changes are to the 2008 Proceeds of Crime Act and Designated Business (Registration and Oversight) Act 2015.

The amendments, which came into force this week, will mean more consistency in the Island's legislation.

The FSA says the changes will also mean the Isle of Man can stay within rules set by the global Financial Action Task Force.

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