International Monetary Fund (IMF) Report on the Isle of Man
An independent report published on 14th September 2009 by the International Monetary Fund has confirmed the Isle of Man's continuing high standards of compliance with global standards of financial regulation and supervision.
The report also confirms that the Isle of Man is amongst the top countries in the world with regard to its implementation of the recommendations of the Financial Action Task Force (FATF) to combat money laundering and terrorist financing.
The report is based on an assessment by the IMF in which it examined the anti money laundering provisions and the regulatory and supervisory system, the soundness of the financial system and its ability to cope with stress situations.
The IMF commented in the report "the Isle of Man authorities takes their responsibilities in the area of international co-operation seriously", the island is "broadly compliant" with most aspects of the recommendations of the Financial Action Task Force (FATF) relating to money laundering and terrorist financing and maintains a "high standard" with a "very high level of awareness" of the risks and requirements associated.
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