IoM FSA and GSC roll out new software
A new weapon's being rolled out to strengthen the Island's protection against money laundering and the financing of terrorism.
It's a data collection and risk assessment tool.
The Isle of Man Financial Services Authority and the Gambling Supervision Commission have embraced the software which has been developed in line with recommendations set by the Financial Action Task Force - the organisation that leads the global fight against criminals.
The software enables supervisors to gain a deeper understanding of risk and focus resources on the firms and sectors that pose the biggest threats.
In addition to improving the efficiency and effectiveness of supervision, STRIX makes it easier for firms to provide the required data through a dedicated online portal.
An outreach and engagement programme with firms will take place to support the smooth implementation of the technology.
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