Isle of Man GSC updates AML guidance on suppliers and corporate groups
The guidance addresses risks beyond customer relationships. A separate assessment rated the gambling sector and online gambling medium-high for money laundering.
Key points
- The GSC published version 1.4 of its gambling AML guidance on 10 November.
- The regulator says the underlying requirements of the 2019 Code have not changed.
- A February assessment rated the gambling sector and online gambling medium-high risk.
- Further guidance is being prepared for software suppliers, network services and virtual assets.
The Isle of Man Gambling Supervision Commission (GSC) published revised anti-money laundering guidance for gambling operators on 10 November, with greater attention to risks associated with suppliers, corporate groups and beneficial ownership.
Version 1.4 draws on the island’s 2025 and 2026 national risk assessments, European Gaming reported. It gives operators further direction on applying a risk-based approach to their business relationships.
The guidance asks operators to examine the effects of ownership and control, outsourcing, group structures and other significant relationships on their risk profiles. It also refreshes sections covering identity checks, due diligence, transaction risks, sanctions, reporting and staff training.
The GSC said the Gambling (Anti-Money Laundering and Countering the Financing of Terrorism) Code 2019 remains unchanged. The revised guidance explains how to comply with the existing requirements rather than introducing new ones.
Operators should assess whether their compliance frameworks need revision and make any changes as soon as practicable. The regulator also offers assistance by contact or through drop-in sessions at its Douglas offices.
A gambling-sector money laundering assessment published in February rated the sector overall and online gambling as medium-high risk. It rated land-based gambling medium-low.
The assessment identified threats involving criminal ownership through front companies and complex structures, as well as organized crime groups, including those from East and Southeast Asia. The Gamblest reported that it also noted risks involving cross-border payments, opaque ownership and limited visibility of those using gambling technologies.
In a separate proliferation financing survey published on 10 November, 94% of operators that also participated in 2024 said they had taken steps to improve their understanding, while 80% reported better awareness.
The GSC is preparing further guidance for software suppliers, license holders with network services permissions, and virtual assets and goods. It has invited operators to identify topics on which they would like more detail.
Sources
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