Core Functions

The major functions of the Unit are briefly described as follows:

• The investigation of all serious financial crime on the Island
• The investigation of serious financial crime involving the Island but where jurisdiction is unclear
• The conduct of initial investigation into serious financial crime where jurisdiction lies outside the Island but where evidence needs to be secured or obtained on the Island
• The gathering of evidence for other jurisdictions on behalf of the Attorney General in respect of financial aspects of crimes involving fraud, drug trafficking, money laundering, corruption, or other crime
• The gathering of evidence under available legislation through Police to Police liaison
• The financial profiling of criminals with a view to asset forfeiture
• The provision of expert skills, advice and assistance which can be drawn on and be utilised by our Neighbourhood Policing Teams and other specialist police departments.
• The provision of awareness training on fraud and money laundering, advice and assistance to the finance sector. This often can take the form of training workshops, seminars and presentations
• The F.C.U. is the reception point for suspicious transaction reports (STRs), commonly known as Financial Disclosures which are reported by the Island’s Finance sector through their statutory obligations under Proceeds of Crime Act 2008 (POCA) & Anti-Terrorism and Crime Act 2003 legislation
• Generally all international Police investigations routed via INTERPOL are undertaken by the FCU.

The work of the Financial Crime Unit is divided into the following areas:

The Financial Intelligence Unit

The Financial Crime Unit is the reception point for financial disclosures (Suspicious Transaction Reports) from financial service businesses. Such reports are vital to the regulatory process and can be the catalyst for a substantial criminal enquiry either locally or in another jurisdiction. Isle of Man legislation enables us to disseminate information to our partners and we have a small number of Memorandums of Understanding with other agencies that also facilitate that process. Education packages and training have been offered to the staff of the finance sector to aid identification of suspicious transactions and other crime.

External Co-operation desk

The External Co-operation Team deal with a range of requests including Restraint and Production Orders involving protracted bank enquiries and company searches to obtain evidence for other jurisdictions. Many more requests for public record information and assistance, and advice to prepare official letters of request for legal and mutual assistance are also satisfied. Such co-operation is vital to combat money laundering on a global scale and aims to demonstrate transparency to other jurisdictions and law enforcement agencies throughout the world. The Financial Crime Unit regularly receives letters of appreciation for the invaluable assistance it provides to such agencies.

Financial Crime Investigation

The Unit investigates serious and complex fraud cases, as well investigating money laundering and terrorist financing. By their very nature these investigations, often multi-jurisdictional, can take extended time periods to investigate. It also incorporates a pro-active capability utilising financial and other intelligence to target criminal activity.

Hi-Tech Crime

Assistance is provided to FCU colleagues, the Constabulary’s Neighbourhood Policing Teams and our partners in criminal investigations by the forensic examination and recovery of data from computers or other electronic storage media. All matters that are referred to the Unit will be thoroughly investigated, ensuring that all opportunities to secure evidence of a forensic nature are explored in an effective and efficient manner.

The Financial Crime Unit working closely with other agencies plays a major role in ensuring that the global reputation of the Island is protected. FCU staff are responsible for many spheres of highly specialist work, liaison with other Forces and agencies both nationally and internationally. A great deal of training has been undertaken to allow the Unit to become expert in interrogating computers enabling them to play a major role in the analysis of all elements of modern electronic crime.

The FCU is a member of the Egmont Group, which is an international body formed to aid the flow of information between countries to prevent and detect money laundering and financial crime. We have continued our commitment to this Group, and others, to ensure that the reputation of the Island as a world class financial centre is preserved. Through these international contacts the unit has been able to raise the profile of the Island and its excellent record in the prevention and detection of money laundering.