Anti-Money Laundering: A Guide for the Non-Executive Director (Isle of Man Edition)

Years ago, being a non-executive director was a cushy deal: turn up a few times a year for a slap-up meal, sign some papers, and collect a nice fee.  But no longer.  Nowadays non-executive directors are expected to perform to the very highest standards – and are held both responsible and liable for doing so.  And one of their most serious responsibilities is overseeing the anti-money laundering and countering the financing of terrorism (AML/CFT) regime of their company.  AML/CFT legislation in the Isle of Man is quite clear: the Board is required to oversee the AML/CFT regime, review it regularly, and sign off on it as being appropriate and proportionate.

Until recently, however, there was very little information out there to help non-executive directors to understand and assess their company’s AML/CFT provision.  But now Susan Grossey, who has been providing AML training in the Isle of Man for many years, has written a book specifically for this audience.  “Anti-Money Laundering: A Guide for the Non-Executive Director (Isle of Man Edition)” focuses only on what the Isle of Man NED needs to know: the requirements of the Proceeds of Crime (Money Laundering) Code 2010 and the Prevention of Terrorist Financing Code 2011, his obligations under these Codes, and how he can meet those obligations by asking the right questions and understanding the answers.  The book is pithy and clear, with links to further information, and key questions accompanying each section.  There is no simpler or more approachable way for the Isle of Man NED to ensure that he is meeting these crucial obligations.

The book is available from the Book Depository:

(Please note that in order to get free delivery to the IoM, you will need to put UK as the country and IoM as the county – this is a Book Depository confusion about postcodes rather than a political statement!)

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