The Isle of Man Financial Services Authority has published a recorded webinar on money laundering, terrorist financing and proliferation financing risk assessments, setting out that Island firms should use tailored and proportionate processes that reflect the risks, scale and complexity of their business and sector. The presentation frames risk assessments as the foundation of the risk-based approach within a firm's AML/CFT framework. Presented by senior managers in the AML/CFT Supervision Division, the material covers definitions, the risk assessment cycle, procedures and controls, and AML/CFT Code requirements. It explains how firms can identify risk factors, assess inherent risk, and determine residual risk after mitigations have been applied, and includes practical examples on how procedures and policies interact with risk management. The closing section focuses on specific AML/CFT Code paragraphs and key takeaways, while related guidance remains available in the AML/CFT Handbook.
Isle of Man Financial Services Authority 2026-05-13
Isle of Man Financial Services Authority publishes webinar stressing tailored AML CFT risk assessments for Island firms
The Isle of Man Financial Services Authority has published a recorded webinar on money laundering, terrorist financing and proliferation financing risk assessments, emphasising that firms should adopt tailored, proportionate processes aligned to their specific risks and sector. Delivered by senior AML/CFT supervisors, the webinar outlines the risk assessment cycle, interaction of procedures and controls with risk management, and key Anti-Money Laundering and Countering the Financing of Terrorism Code requirements, with related guidance in the AML/CFT Handbook.