Positive MONEYVAL outcome is 'shared goal' of government and financial sector

Industry professionals attend Countering Financial Crime Conference

A conference regarding financial crime saw a turnout of around 600 professionals at the Villa Marina in Douglas.

Designed to showcase international developments and emerging risks, the Countering Financial Crime Conference 2025 featured guest speakers and panels.

The event comes ahead of the Island's upcoming MONEYVAL assessment, which gets underway next year.

MONEYVAL is a peer review body that evaluates how countries tackle money laundering and terrorist financing and recommends ways to strengthen their systems.

But what does that actually mean? And why do the body's findings matter for the Isle of Man?

Jilly Christian is the Head of the Isle of Man’s AML/CFT Policy Office.

She says the Island will ultimately be given a list of recommended actions:

(Picture: An estimated 600 people attended the Countering Financial Crime Conference at the Villa Marina on Wednesday 3 September. Credit: Manx Radio)

The justice and home affairs minister says a positive MONEYVAL assessment outcome is the 'shared goal' of government and the Island's financial sector.

Research from the International Monetary Fund shows a negative MONEYVAL assessment can impact a jurisdiction's GDP by between 6-7 percent.

But Jane Poole-Wilson says the Island's status as an international financial centre makes a positive outcome even more vital:

The Island's next MONEYVAL assessment gets underway next year.

Listen to the full interviews with the Head of the Isle of Man’s AML/CFT Policy Office, Jilly Christian, and Justice and Home Affairs Minister Jane Poole-Wilson via the Manx Radio Newscast below: