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FSC to explain news laws

Manx businesses accepting cash payments for goods worth 15,000 Euros or more, or the sterling equivalent, are being urged to wise-up to new anti-money laundering laws.

In future, local firms will be expected to query cash payments, or they could find themselves commiting a criminal offence.

But help is at hand in the form of a seminar at the Manx Museum on Thursday, which will spell-out the do's and don'ts of the Money Laundering Code.

Head of Enforcement at the Financial Services Commission Paul Heckles (pictured) was asked what sort of businesses would be affected:

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