The next independent assessment of the Isle of Man’s effectiveness in countering financial crime is scheduled to take place next year.

MONEYVAL, the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, has confirmed that it will conduct its onsite evaluation of the island in October 2026.

The government says that preparations for the evaluation are already ‘well advanced’ across multiple Government agencies.

The authority says it aims to demonstrate that the Isle of Man complies with international standards and remains able to attract quality new business and investment.

A spokesperson from Isle of Man Government said: ‘The outcome of the MONEYVAL mutual evaluation report (MER) will be crucial to the island’s continued economic success and its reputation as a well-regulated international finance centre.

‘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 combating money laundering, the financing of terrorism and the financing of proliferation of weapons of mass destruction.’

Jane Poole-Wilson, deputy Chief Minister and the anti-money-laundering lead for the Isle of Man Government, said: ‘Countering financial crime is a constant, year-round commitment for this Government.

‘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.

‘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.’