Isle of Man: World Bank Visiting Isle Of Man For National Risk Assessment
Last Updated: 5 November 2014

Representatives from the World Bank will be on the Island for three days in November 2014 to host workshops for those participating in the National Risk Assessment project.

Under the Financial Action Task Force Recommendations, the Island has to undertake an assessment of where it is vulnerable to the risk of money laundering and terrorist financing in order that a Risk Assessment document can be made publicly available in due course. The Island is using the World Bank methodology to complete the risk assessment and the workshops in November will see representatives from various government agencies and industry sectors coming together to work with the World Bank on the application of the methodology.

DQ's head of regulatory & compliance services, Sinead O'Connor, is a member of one of the working groups which have been established to examine the threats and vulnerabilities of various industry sectors to money laundering and terrorist financing. Commenting on her involvement, Sinead said:-

"It is very exciting to be involved in such an important project for the Isle of Man and I am looking forward to taking part in the World Bank workshops and the continued development of the Island's National Risk Assessment".

DQ's managing director, Tom Maher said, "DQ willingly supports such a significant initiative for the Isle of Man and we are delighted to lend Sinead's specialist skills to this important compliance assessment of the Isle of Man's world class regulatory regime".

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