Anti-Money Laundering Guidance
The GSC is committed to combatting Money Laundering, Financing of Terrorism & Proliferation Financing. Collectively these requirements are known as AML/CFT controls.
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).
We do this through inspections that are focussed on the policies, procedures and controls a Licence Holder has in place and how they adhere to these and ensure all their 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
This webpage features lots of helpful information in relation to what AML/CFT is, how it affects you as a licence holder and plenty of guidance documents to assist you.
It also sets out the role of the FATF & MONEYVAL and how the Isle of Man's national strategy is geared up to complying with international standards to counter money laundering and the financing of terrorism.
You can email any questions you have to our team at gscamlinspections@gov.im
Wish to contact the GSC with a Whistleblowing concern?
You can contact the Gambling Supervision Commission through any trusted contact or email gscamlinspections@gov.im. You can view our whistleblowing guidance here.
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AML/CFT Inspections
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 AML/CFT Code).
The GSC supervises compliance through a combination of self-assessments and on-site reviews. Desk-based reviews of self-assessments and any documents provided allow the GSC to assess an operator’s policy and process. On-site activities include attending operators’ premises, customer sampling and face-to-face meetings.
Further information on AML/CFT Inspections can be found on the AML/CFT Inspections page.
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FATF and MONEYVAL
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.
- AML/CFT Guidance Documents Published by the GSC
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AML/CFT External Guidance to Licence Holders
Anti-Money Laundering and Countering the Financing of Terrorism Policy Office
The Anti-Money Laundering and Countering the Financing of Terrorism Policy Office was established by the Chief Secretary in 2016. The Policy Office acts as the coordinating body for the Isle of Man’s Anti-Money Laundering and the Combatting the Financing of Terrorism (AML/CFT) regime, coordinating the Island’s engagement with two key international organisations:
- The Financial Action Task Force (FATF),
- MONEYVAL
More information on their aims and objectives can be found on their website by clicking on the Cabinet Office Image
Isle of Man Government National Risk Assessment
The Cabinet Office have also undertaken a National Risk Assessment of Money Laundering and Combating the Financing of Terrorism and the Financial Crime Strategy.
Further information on the national risk assessment work can be found on their website by clicking on the Cabinet Office Image
Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Advisory Group
The AML/CFT Advisory Group is established by the Cabinet Office and its membership includes representatives from the Cabinet Office, IoM Financial Services Authority, Gambling Supervision Commission, Financial Intelligence Unit, Customs and Excise Department of Home Affairs, Department for Enterprise, professional bodies and industry associations.
The purpose of the AML/CFT Advisory Group is to strengthen communications, the exchange of information regarding emerging issues, and facilitate cooperation between Government, the regulators and industry in order to combat the misuse of the Isle of Man's financial systems by persons attempting to commit financial crimes.
Further information on the work of the AML/CFT Advisory Group including the minutes of their meetings, can be found on their website by clicking on the Cabinet Office Image
Isle of Man Customs & Excise - Sanction & Export Control
The Isle of Man Customs and Excise Division is responsible for the implementation of UN and UK financial and economic sanctions and export and trade licensing controls in the Isle of Man.
Their website is a valuable source of information
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STRIX AML system
The Gambling Supervision Commission in conjunction with the Financial Services Authority has adopted and issued a press release in respect of a new AML/CFT data collection and analysis tool named STRIX AML.
For more information, please visit our Strix AML System page on our website.
Additionally, we have also linked below two sets of guidance documents on how the STRIX Tool can be fully utilised:
- Launch video 6 November 2023
- Press release.
- Annual statistical return guidance
- Training Slides about the Strix User Manual.
- Quarterly Returns Guidance
Should you require further information or have any queries in relation to the STRIX tool please e-mail gscamlinspections@gov.im