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Isle of Man Government publishes its commitment to combating money laundering

Posted on in IQE Isle of Man

In the same week that the United Kingdom’s HM Revenue and Customs launched a renewed effort to combat tax avoidance, the Isle of Man Government published its Commitment to Combating Money Laundering and the Financing of Terrorism and Proliferation.

The Manx publication, which is introduced by the Island’s Chief Minister, lists the Island’s numerous memberships of international supervisory bodies, including the International Organisation of Securities Commissions.  It also provides details of recent assessments carried out on the Isle of Man by various international organisations, which include the International Monetary Fund and the Organisation for Economic Cooperation and Development (OECD). 

The publication lays out the Isle of Man Government’s “commitment to maintaining domestic legislation, policies and procedures which ensure effective compliance with the international standards and, where necessary, progressing further measures in the future to implementing evolving international standards and best practice.”

Moira McHarrie, IQE Executive Director with responsibility for the company’s compliance noted, “We are very pleased to see the Isle of Man Government take such a proactive stance with regard to the prevention of money laundering and the financing of terrorism.  The Isle of Man continues to ensure that it is at the forefront where international standards and best practice are concerned, as was demonstrated recently by the Island’s inclusion as one of only 12 countries found by the OECD to have in place all the elements of effective tax information exchange.”

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As Chairman of a substantial private equity backed company invested in Indian residential property located in 7 major cities, I worked with IQE for 7 years. IQE provided administration services including the provision of a professionally qualified chartered secretary and I found them to be always professional, responsive and knowledgeable. The long term relationship reflected our confidence in their reliable services and proactive attitude. I would happily recommend IQE to others requiring their services. Neil Everitt, Chairman, S.A.R.E. Group

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