MONEYVAL confirms October 2026 date for Isle of Man evaluation
MONEYVAL, the Council of Europe’s anti-money laundering watchdog, announced that it would be conducting an onsite evaluation of the Isle of Man in October 2026, to assess the island’s legislation, policies and procedures against international standards and its findings on its previous onsite visit in 2016.
The Isle of Man government said preparations were already well advanced across multiple government agencies, while industry involvement is to be stepped up from the second quarter of 2025. The objective is to demonstrate that the Isle of Man complies with international standards and remains well placed to attract quality new business and investment.
An updated National Risk Assessment will be published later this year alongside a documented Risk Appetite Statement for the island. Data gathering and analysis is being enhanced as part of these initiatives to support the island’s commitment to anti-money laundering and counter-terrorist financing (AML/CFT) standards.
The government said a significant amount of progress had been achieved since the 2016 evaluation to address the findings and recommended actions of the in-depth assessment. Actions have included increased investment in an expanded Financial Intelligence Unit, the formation of an Asset Recovery Unit within the Attorney General’s Chambers and the enactment of legislation dealing with money laundering.
The Isle of Man is now positively marked in 39 out of the 40 Financial Action Task Force Recommendations, which places it in a select group of leading nations worldwide for technical compliance in AML/CFT measures. MONEYVAL confirmed in April 2021 that the Isle of Man was no longer required to report on an annual basis but would remain in the ‘enhanced follow-up’ process until an on-site review had taken place.
The standards for compliance in the sixth-round evaluation in 2026 will be higher and require the island to provide substantial evidence of the long-term effectiveness of its AML/CFT regime and how supervision and enforcement measures are applied in practice.
“We take our responsibilities in protecting our communities and businesses from criminality seriously. The MONEYVAL evaluation in 2026 is an opportunity to showcase our continued efforts to remain a trusted and responsible member of the global community,” said Jane Poole-Wilson MHK, Deputy Chief Minister and government AML/CFT lead.
“Government cannot secure a positive outcome alone. That’s why I am keen to ensure effective collaboration between industry, the government and the financial services regulator. We are driving a robust and co-ordinated national response which will demonstrate the integrity of the Island’s financial systems and maintain our long-standing track record of compliance with international standards.”
