MONEYVAL Readiness Briefing Pack Published, Evaluation Starts September 2026

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• Briefing pack published to support MONEYVAL readiness

Briefing pack published to support MONEYVAL readiness

Published on: 16 April 2026

Further information has been published to support the Isle of Man’s readiness for its MONEYVAL mutual evaluation commencing on 28 September 2026.

A briefing pack is available online to provide private sector firms with an insight into the process and how they can best contribute to the Island’s preparations.

Changes to the evaluation methodology, an explanation of the Financial Action Task Force (FATF) Immediate Outcomes, and a summary of the Island’s previous evaluation are highlighted, along with an updated timeline and frequently asked questions.

The intention is to raise awareness of what Island firms can expect during the evaluation and the main areas the MONEYVAL assessors are likely to focus on during the onsite interviews this autumn.

The publication of the briefing materials forms part of the comprehensive programme of outreach being conducted by Isle of Man Government agencies and regulators.

Targeted sessions are taking place with a cohort of businesses, while a full suite of reports, executive summaries and key findings is available to help distil the contents of the updated National Risk Assessments.

An in-depth understanding of sectoral and national risk is critical to demonstrating the effectiveness of the Island’s frameworks to combat money laundering, terrorist financing and proliferation financing. The sixth-round MONEYVAL process will assess the application of a risk-based approach, focus more explicitly on outcomes, and place greater emphasis on structured, data-driven evidence.

Consequently, firms must be able to articulate how their internal controls and processes are proportionate to the risks faced by the business and the sector, and the measures in place to mitigate existing and emerging vulnerabilities.

Ashley Whyte, Head of AML/CFT Supervision at the Financial Services Authority, said: ‘The sixth-round evaluation represents a shift away from broader narrative submissions towards more precise, measurable inputs which can evidence effectiveness in a tangible way. This reinforces the importance of high-quality data, well-documented and evidenced risk assessments, and the ability of Island firms to demonstrate how their frameworks are informed by the identified risks to their sector.’

She added: ‘The briefing pack offers an overview of the MONEYVAL process and provides firms with some useful pointers on how their compliance frameworks might be assessed. The sixth-round evaluation raises the bar by requiring countries to demonstrate that risk understanding drives development of the AML/CFT/CFP framework, supervisory priorities, and operational activity. We would encourage firms to review the information and continue to engage positively with our outreach sessions in the time ahead.’