Updates to sector specific AML/CFT guidance

The Isle of Man Financial Services Authority has published updates to some of its sector specific guidance in respect of anti-money laundering and countering the financing of terrorism (AML/CFT).

The AML/CFT guidance for Estate Agents has been refreshed to reflect international standards following the publication of the FATF Risk-based Guidance for the Real Estate Sector.

A minor change has also been made to the sector specific AML/CFT guidance for firms operating in the Funds industry.

In both instances, the full details of the amendments are set out in the version history of the documents.

The sector specific AML/CFT guidance for regulated entities and designated businesses, together with AML/CFT Handbook and relevant legislation, is available to view on the Authority’s website.

The information is a key part of the Authority’s engagement and outreach to help Island firms meet their AML/CFT obligations.

Firms are encouraged to read the guidance and take the appropriate action to mitigate their AML/CFT risks.

For further information contact aml@iomfsa.im