18th November 2024 – National Risk Assessment Video Series

A series of videos covering the Isle of Man’s National Risk Assessment (NRA) is set to be released online over the coming months. The GSC has been working in partnership with various government agencies to produce a series of videos that aim to increase awareness of the NRA across the Isle of Man sectors.

The NRA identifies the highest domestic and non-domestic threats to the Isle of Man with respect to Money Laundering, Terrorist Financing, and Proliferation Financing and highlights areas where actions are required to address these threats. The NRA assists each sector and individual to understand risks associated with their relevant country, business, and individual requirements. Supervised entities must be aware of, and understand the findings and observations of the NRA so they can use this information to inform their risk-based approach.

The videos are being recorded in collaboration with numerous government agencies, including the Gambling Supervision Commission, Financial Services Authority, Financial Intelligence Unit, Cabinet Office and Treasury’s Customs and Immigration Division and form part of the ongoing government-wide NRA project. The first video in the NRA series was unveiled at the 2024 Isle of Man Countering Financial Crime Conference in October, providing an overview of what an NRA is. A further video has just been released and includes information from the GSC and other competent authorities regarding the publication of sector-specific risk assessments, including the GSC’s sectoral risk assessment.

You can view the video on the Isle of Man Government YouTube Channel.

The sectoral risk assessments (culminating in the Isle of Man’s National Risk Assessment) will be published in 2025.