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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.”

We have the expertise to assist with multi-jurisdictional fiduciary services for international structures

Having recently been involved in a matter in relation to which IQE were providing director services I was extremely impressed at the pragmatic and helpful attitude of both Amanda Steele and David Karran. The way they handled the matter was genuinely exemplary. All involved in the transaction were seriously impressed with the service IQE provided to its client. Gillian Christian, Keystone Law

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