Publishes National Risk Tolerance Declaration on Isle of Man
The Isle of Man, a well-known licensing hub for iGaming, is taking a proactive approach to address the growing number of licensees and the associated risks. The National Risk Appetite Statement (NRAS), published in May 2025, outlines the island's strategy for managing online gambling and financial crime.
The NRAS, issued by the Isle of Man's National Risk Appetite Statement, emphasises a limited appetite for eGaming businesses with ownership or control from East or Southeast Asia. This cautious stance is in response to higher risks associated with such ownership structures.
The Gambling Supervision Commission (GSC), established under the Gambling Supervision Act 2010, is responsible for regulating both land-based and online gambling. The commission focuses on fairness, consumer protection, and preventing crime related to gambling activities.
The NRAS forms part of a broader regulatory enhancement, including legislative reforms and staff training to identify and combat serious crimes such as human trafficking. This proactive and stringent approach to higher-risk sectors within online gambling demonstrates the Isle of Man's commitment to maintaining its reputation as a respected licensing jurisdiction.
The NRAS provides clarity to industry and wider stakeholders about the Isle of Man's stance on good quality, reputable business. It reiterates that the island does not prohibit licensees from engaging in higher-risk activities or jurisdictions, but they must ensure robust risk management in accordance with their Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) codes.
In a statement, the Minister for Justice and Home Affairs, Jane Poole-Wilson, considered the NRAS a "crucial step" in protecting the island from fraud and exploitation. The publication of the NRAS aims to provide licensees and other industry stakeholders with a solid understanding of identified risks, vulnerabilities, and mitigations across Money Laundering (ML), Terrorism Financing (TF), and Proliferation Financing (PF) related topics and across all sectors.
The Isle of Man government is investing in reinforcing its iGaming framework against ML, TF, and other financial crimes. The NRAS addresses the 40 recommendations by the Financial Action Task Force (FATF), indicating the island's commitment to implementing the FATF's recommendations.
A further comprehensive statement is expected to be published later this year, according to the NRAS. This second statement will provide more details on the Isle of Man's approach to managing higher-risk areas with proportionate enhanced measures.
The Isle of Man's ongoing efforts to update regulations and implement proportionate measures addressing these higher-risk concerns are a testament to its commitment to maintaining a safe and secure online gambling environment. As a major contributor to job creation and economic growth, the Isle of Man remains open for good quality, reputable business, while ensuring a cautious and risk-aware approach towards managing online gambling.
Technology plays a significant role in the Isle of Man's proactive approach to regulating online gambling, as it leverages advanced systems to combat financial crimes and ensure compliance with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations.
The Isle of Man government's investment in technology is not only geared towards maintaining a safe and secure online gambling environment but also towards attracting good quality, reputable business in the finance and business sectors, further bolstering the island's economy.
