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IoM Publishes Anti-Money Laundering Handbook,
by Carla Johnson, Investors Offshore.com, London
Thursday, July 24, 2008
The Isle of Man's Financial Supervision Commission earlier this month announced the publication of its Anti-Money Laundering and Countering the Financing of Terrorism Handbook, with the exception of Section 9.
Section 9 of the AML/CFT Handbook will comprise sector specific guidance which
will be drafted in due course with further industry consultation.
The AML/CFT Handbook has been drafted to provide guidance for the Commission’s
licenceholders on the requirements of the Criminal Justice (Money Laundering)
Code 2007, and the anti-money laundering and countering the financing of terrorism
provisions in Part 9 of the Financial Services Rule Book 2008.
The Financial Supervision Commission concluded by announcing that this new AML/CFT Handbook will come into effect on 1st August 2008 to correspond
with the coming into effect of Part 9 of the Financial Services Rule Book, and
will replace the Money Laundering and Prevention of Terrorism Guidance Notes
(April 2003) as amended on that date.
The full text of the Anti-Money Laundering and Countering the Financing of
Terrorism Handbook can be found in the Tax
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