22nd November 2024 – Proliferation Financing Video Series to be released

A series of videos covering the topic of Proliferation and Proliferation Financing are 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 PF across Isle of Man sectors.

The Proliferation Financing video series will be released over the coming weeks and make us part of a larger project regarding PF, culminating in the publication of the Island’s PF risk assessment in the first quarter of 2025. Topics will include an explanation of PF, an overview of the relevant sanctions regimes, PF red flags and typologies for the financial and non-financial sectors, and information about how to report suspicions.

Also encompassed by this project was the GSC’s Proliferation Financing Survey. The survey was sent to all gambling Operators licenced by the GSC (operating during 1/1/2023 - 31/12/2023) and aimed to establish the understanding of PF within the Gambling sector and identify any trends. A full version of this report is now available on the GSC website. The Financial Services Authority also produced a report capturing the key findings of their own questionnaire results.

These reports will help to inform the Isle of Man’s Proliferation Financing Risk assessment and, in turn, the National Risk Assessment.  A PF factsheet was issued earlier this year that covers key factors involved in Proliferation and Proliferation Financing.

You can view the video on the Financial Services Authority Channel.

The GSC hopes that the videos, alongside the published reports, will help to inform Operators of the importance of understanding PF and its associated risks. The GSC encourages Operators to engage with any and all Outreach from government agencies and provide feedback to the GSC where appropriate.