Legislation

Guidance Documents

AML Publications

AML/CFT Inspections

Anti Money Laundering

As the Island's gambling regulator, the GSC is responsible for regulatory oversight of the gambling sector including operators’ compliance with legislation such as the Gambling Acts and the Gambling (Anti-Money Laundering and Countering the Financing of Terrorism) Code 2019 (the Code).

The GSC ensures compliance through inspections, focusing on the policies, procedures and controls a Licence Holder has in place and how they adhere to these. The AML/CFT team ensures all Licence holders adhere to the AML/CFT Code and that staff members are aware of their roles and responsibilities, through a robust training programme.

The GSC participates in national initiatives to continually assess the risk of money laundering and terrorist financing within the gambling sector as well as evaluation exercises, conducted by external teams of assessors, which check the Isle of Man’s national commitment and performance against international standards

You can email any questions you have to our team at gscamlinspections@gov.im

 

The AML/CFT Division

The GSC adopts a risk-based approach to AML/CFT supervision. The risk-based approach recognises that there are finite resources available to combat ML, FT and PF. The concept behind the risk-based approach is therefore summarised as:
“If we have limited resources, let us at least use them wisely.”

In 2023, the GSC was divided into four divisions, to form a more robust structure with clearly defined roles under the GSC’s regulatory remit. These divisions are AML/CFT, General Supervision, Licencing and Operations. The AML/CFT division is further split into three sub-divisions:

  • AML/CFT Inspections
  • AML/CFT Policy and Outreach
  • Enforcement

 

Moneyval & The Financial Action Task Force

MONEYVAL assesses its members' compliance with the international AML/CFT/CPF Standards set by the Financial Action Task Force (“FATF”) through a peer review process of mutual evaluations. For more information on MONEYVAL and the assessment process, please view our dedicated page on MONEYVAL & FATF.