The Isle of Man Government has published its first standalone Terrorist Financing (TF) National Risk Assessment (NRA), which is a significant step in strengthening the Island’s defences against terrorist financing and reinforces its commitment to international standards.

The TF NRA builds upon the findings of the 2015 and 2020 Money Laundering and Terrorist Financing NRAs and provides a focused analysis of the TF risks relevant to the Isle of Man as an international financial centre (IFC). It is a key component of the Island’s broader strategy to meet the Financial Action Task Force (FATF) recommendations on anti-money laundering, countering the financing of terrorism and countering the financing of proliferation (AML/CFT/CPF).

The assessment, which began in April 2024, involved contributions from 48 local experts, industry representatives, and international partners including the UK Home Office and the World Bank.

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It concludes that the Isle of Man faces a medium-low overall risk of being used as a conduit for terrorist financing, with the highest risk identified in the area of transit TF — the potential for funds to pass through the Island’s financial system en route to other jurisdictions. Whilst it is notable that the overall rating remains the same as the last TF NRA, conducted in 2020, this report provides further assurance of that rating by the use of more detailed data, information and analysis.

The FATF is an inter-governmental body that sets standards and promotes effective measures for combating money laundering, terrorist financing and other related threats to the international financial system.

The FATF-style regional body for the Isle of Man is MONEYVAL, the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, based in Strasbourg, France.

The Isle of Man’s efforts in combatting financial crime will be subject to an evaluation by MONEYVAL in October next year.

The Island’s main priority is to prevent, detect and disrupt criminal activity on an international scale. If the island cannot demonstrate that it meets the standards expected, the jurisdiction could referred to the “grey-listing” process. This outcome would have a significant negative impact on the economy and damage the international reputation and the ability to do business.

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Jane Poole-Wilson MHK, Minister for Justice and Home Affairs, said: “This assessment is a vital tool in our ongoing efforts to protect the Isle of Man’s financial system and uphold our international obligations. It reflects the depth of collaboration across government, regulators, and industry, and highlights both our strengths and the areas where we must continue to build capacity and awareness. We are committed to ensuring that the Island remains a secure and responsible jurisdiction.”

The publication of the TF NRA will be supported by outreach to industry to help stakeholders understand and apply the key findings. A separate NRA focused on Non-Profit Organisations (NPOs) TF is also in development and will be presented for approval in due course.

Pollard Banknote Limited announced that it has been approved as a licensed gaming-related vendor by the General Commercial Gaming Regulatory Authority (GCGRA). The GCGRA is the federal authority that oversees the regulatory framework for all lottery and commercial gaming activities in the United Arab Emirates (UAE) and is responsible for ensuring the industry’s integrity and promoting responsible gaming.

This license authorises Pollard Banknote to provide gaming-related goods and services and reflects the company’s interest in supporting regulated lottery operators within the UAE. As a full-service lottery and gaming provider with operations in North America and Europe and lottery clients across the globe, Pollard Banknote’s family of companies offer a wide array of products and services to maximise revenue potential. This portfolio of offerings includes an array of impactful retail merchandising solutions from Schafer Retail Solutions +, engaging print products designed for non-traditional lottery retailers from American Games/International Gamco and forward-thinking digital products across a number of its companies. This is all in addition to Pollard Banknote’s innovative instant ticket products and manufacturing operations.

“We are very excited for the wide variety of opportunities this new license will afford Pollard Banknote. We are eager to foster a strong partnership in the UAE and introduce our portfolio of proven, innovative lottery and gaming products and services that will help boost revenue and support charitable causes,” said Doug Pollard, Co-Chief Executive Officer at Pollard Banknote.

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