19 June 2026: Isle of Man Completes Effectiveness Submission
The Isle of Man completed its written effectiveness submission to MONEYVAL last week, taking us a major step closer to the mutual evaluation onsite assessment later this year.
The Island’s supervisory agencies work together to achieve a cohesive AML/CFT strategy in line with the Island Plan, strategically and effectively addressing challenges as they arise, and this submission is a testament to those relationships. The Island Plan commits to maintaining international standards, and as a member of MONEYVAL, the Isle of Man is subject to the Mutual Evaluation peer review process, through which jurisdictions are assessed against standards set by the Financial Action Task Force (FATF). This commitment is further reinforced through the Island’s Financial Crime Strategy 2024-2026.
What have we completed so far?
In March 2026, the Isle of Man submitted its Technical Compliance Questionnaire (TCQ) to the MONEYVAL Secretariat. The island has now also completed its written effectiveness submission, the most critical component of the mutual evaluation and another huge step towards the onsite assessment in the autumn.
Significant work has been ongoing to strengthen the Island’s frameworks, alongside a coordinated effort across the public and private sectors to collate and analyse substantial volumes of data. This collective work evidences the depth of activity undertaken to uphold high regulatory standards and to continuously enhance the Island’s approach to countering financial crime. The Isle of Man stands ready to demonstrate the strength and resilience of its AML/CFT framework and its ability to respond to a complex and evolving risk environment.
The Island’s financial, digital and DNFBP sectors are a valuable element in enhancing the resilience of our jurisdiction. To remain effective, regulation must continue to evolve in response to emerging typologies and threats. Data from the private sector is essential to support the understanding and assessment of the Island’s risk landscape and to inform policy development and supervisory activity.
The GSC would like to thank all those who have taken part in working groups, feedback sessions or been part of the MONEYVAL assessment process to date. Your continued support is invaluable to the Island. The Island’s Effectiveness submission is comprehensive and robust, supported by a strong and well-evidenced dataset.
What's next?
In the meantime, it is important that we, as supervisors, remain responsive to private sector feedback. This year, the GSC has been taking part in regular feedback sessions with stakeholders in collaboration with partner agencies and will continue to do so in future.
We will continue to host drop-ins and feedback forums to keep our stakeholders informed about the MONEYVAL process as well as any “business as usual” topics – our door is always open.
We will also continue to engage with firms who may be invited to participate in the onsite assessment and offer any support or guidance that you would find helpful.
For the wider sector, briefing materials are available to support understanding and preparation for those who may be involved or have an interest in the process.
For further information on MONEYVAL and the mutual evaluation process, a briefing pack has been published on the GSC and FSA websites: