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Money laundering risk 'medium high'

Process aims to keep business free from money laundering and terrorist financing

The risk of money laundering on the Island is medium high, according to the Isle of Man Government's annual financial risk assessment.

The process is designed to gauge the progress made by the Manx finance industry, ensuring business is free from money laundering or terrorist financing.

Karen Ramsay of the Cabinet Office says the system is both pro-active and reactive when looking for weaknesses:

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