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International cooperation in fight against financial crime

Friday, 29 November 2013

The Isle of Man is continuing to strengthen its relationships with other nations as part of international efforts to combat money laundering and the financing of terrorism.

Senior officers from the Isle of Man Constabulary’s Financial Crime Unit this week signed a Memorandum of Understanding (MOU) with their counterparts from Japan’s Financial Intelligence Centre.

The move further demonstrates the Island’s commitment to working with its global partners in the fight against financial crime.

The Isle of Man is a full member of the Egmont Group of Financial Intelligence Units (FIUs), a network of FIUs that promotes international cooperation through the exchange of intelligence, training and the sharing of expertise.

The MOU was signed by Detective Inspector Iain MacMillan of the Isle of Man Financial Crime Unit and Mr Hiroyuki Mizobata, Assistant Director at Japan Financial Intelligence Centre, in the presence of Kevin Roper, Senior Financial Intelligence Officer at the Isle of Man FCU, Chief Inspector Naoki Kojima, the officer responsible for MOUs with foreign FIUs, and Mr Kanji Totokawa, First secretary, Police attaché, UK Embassy of Japan.

DI MacMillan said:

‘As well as having a FIU that meets the Egmont model requirements, the Isle of Man also has legislation in place to allow for intelligence sharing and, where necessary, the investigation and prosecution of those involved in money laundering or the financing of terrorism.’

He added:

‘The Egmont Group recognises the importance of international cooperation in the drive to prevent money laundering and financing of terrorism. The signing of the Memorandum of Understanding between the Isle of Man and Japan will further strengthen that global network and enhance the overall effectiveness of our FIUs.’

As well as signing the MOU, the Japanese delegation enjoyed a tour of legislative buildings with Clare Christian, President of Tynwald, and visited the Island’s Financial Crime Unit.

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