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Moneyval committee to visit Island

A new inspection of the Isle of Man's efforts to combat money laundering is on the horizon.

The Island's to be visited by the Council of Europe's Moneyval committee for the first time, along with other Crown Dependencies.

A team of experts will also assess measures against the financing of terrorism through Manx institutions.

The Island's anti money laundering regime was reported to be in good shape by IMF inspectors four years ago, although recommendations for further action were made.

Chief Executive of the Financial Supervision Commission has welcomed Moneyval's visit.

John Aspden says it means the Island is no longer a target for special attention and will give credit where it's due:

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