The Isle of Man Financial Services Authority has revised its Anti-Money Laundering and Countering the Financing of Terrorism Handbook, adding a dedicated chapter on sanctions compliance and expanding guidance on key money laundering and terrorist financing risks. The revisions cover de-risking, complex structures, high-net-worth individuals, source of funds and source of wealth, enhanced customer due diligence and commercially exposed persons. Regulated entities and designated businesses are encouraged to review the updated guidance and take appropriate action to mitigate their risks.

Original source