Isle of Man Updates AML/CFT Guidance for Gambling Operators

The Isle of Man Gambling Supervision Commission (GSC) released updated anti-money laundering (AML) and combating the financing of terrorism (CFT) guidance for gambling operators. The updated guidance includes identified threats and typologies, as well as potential risks, added to the guidance.

The existing guidance has been clarified and expanded in applicable areas, including the application of the risk-based approach (RBA), consideration of risks arising through wider business relationships, B2B arrangements and group structures, as well as customer and beneficial ownership risks.

Gambling operators are encouraged to review their existing AML/CFT policies, identify potential vulnerabilities, and address them. At the same time, gambling companies need to maintain caution when signing agreements with new suppliers.