Minister calls for vigilance as Island backs new global sanctions

Government highlights need for businesses to monitor and report links to criminal networks

The Isle of Man Government has reiterated the importance of vigilance from businesses and financial institutions as new UK and US sanctions target a criminal network running scam centres across Southeast Asia.

Justice and Home Affairs Minister Jane Poole-Wilson said sanctions are an effective tool in disrupting criminality by freezing billions of pounds in assets and blocking access to the UK and Isle of Man’s financial systems.

She stressed that local businesses have a key role to play in ensuring compliance: "It’s not just a job for law enforcement, it’s not just a job for the regulators - everybody must play their part."

The minister is urging firms to stay up to date with the sanctions list, warning that those who fail to comply face severe penalties.

She adds even small pieces of information can be crucial in helping authorities detect and disrupt organised crime: "A business only has one part of a jigsaw puzzle, and it’s important that it’s reported because it allows us and partner countries to act."

Under the Sanctions Act 2024, UK sanctions automatically apply in the Isle of Man.

The government says the measures are part of wider international cooperation to safeguard the integrity of the Island's financial system.