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Sector anticipates MONEYVAL findings

Results of anti fraud check due 2017

Financiers and Treasury bosses are eagerly awaiting the latest report from European Anti-Money Laundering monitors.

The Mutual Evaluation Report from MONEYVAL has been approved by officials in Strasborg - it considers the Island's efforts on preventing large-scale fraud and the financing of international terrorism.

It's due for publication in early 2017, subject to quality review procedures.

Until then its contents are strictly confidential.

Recently it was announced the Isle of Man is one of several jurisidictions subject to an enhanced follow-up checking procedure.

The Financial Services Authority considers this a reasonably normal process which is not likely to prompt 'wholesale changes to legislation or regulation'.

Any action which is required will become clear once the report is published.

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