The Isle of Man Financial Services Authority is preparing to launch a thematic review on compliance with countering the financing of terrorism, with on-site inspections scheduled to start in April. The review will assess compliance with specific elements of the Anti-Money Laundering and Countering the Financing of Terrorism Code 2019 over a 12–18 month period. Led by the AML/CFT Supervision Division with support from other supervisory teams where needed, the approach has been updated from the proposal in the AML/CFT Supervisory Priorities 2025–2027 to reduce industry burden by basing the inspection plan on existing data rather than issuing a questionnaire. Notifications and firm involvement will be staged, with documentation requests to be sent to relevant licenceholders and designated businesses in due course; the Authority also frames the project as a way to test and evidence how relevant persons address terrorist financing and terrorism-related sanctions risks, and to identify best practice, building on recent thematic work on proliferation financing and sanctions.
Isle of Man Financial Services Authority 2026-02-23
Isle of Man Financial Services Authority prepares counter-terrorist financing thematic review with on-site inspections from April
The Isle of Man Financial Services Authority will conduct a thematic review on compliance with countering the financing of terrorism, starting on-site inspections in April. The review will evaluate adherence to the Anti-Money Laundering and Countering the Financing of Terrorism Code 2019 over 12–18 months, using existing data to minimize industry burden. The project aims to assess how entities manage terrorism financing and sanctions risks, while identifying best practices.