New sanctions hoped to help disrupt major global criminal network

Government taking action as part of a major international law enforcement operation

Government's hoping new sanctions will help disrupt a major global criminal network.

It's taking action as part of an international law enforcement operation.

The sanctions target prominent individuals and organisations associated with a vast criminal network engaged in large-scale online fraud, human trafficking, and scammers throughout South East Asia.

They're part of a concerted efforts with global partners including the UK and USA against the Prince Group, who are responsible for a huge network of these centres.

Applying the sanctions has been the result of extensive investigations, which led to the freezing and seizure of assets valued at over £1 billion and the arrest of a number of individuals. 

They limit the ability of those involved to use international financial structures to further their criminal enterprises.

Treasury says the Isle of Man remains committed to contributing to global security by supporting international law enforcement efforts, strengthening intelligence cooperation, and delivering decisive action against those engaged in serious and organised financial crime.

Meanwhile Justice and Home Affairs Minister Jane Poole-Wilson MHK says: "Working with our international partners is essential in tackling serious criminal groups. 

"These sanctions help to stop illicit money flowing through global financial systems and send a clear message that this activity will not be tolerated. 

"The Isle of Man will continue to play its part in protecting people from exploitation and fraud."

You can find out more here.