A leading Isle of Man advocate has been appointed as Director of the Isle of Man’s Financial Intelligence Unit (FIU).
Lindsey Bermingham brings extensive experience to the position following a distinguished career specialising in commercial and chancery litigation. Her main areas of expertise include regulatory issues, anti-bribery, fraud, asset-tracing and white-collar crime.
A former Director of law firm Cains, Mrs Bermingham has represented a wide range of local and international clients and appeared in a number of high-profile cases before the Isle of Man High Court. In 2010 she was awarded the Chief Constable’s Certificate of Merit for her contribution to a complex money laundering and fraud investigation.
Mrs Bermingham will take on responsibility for the management and development of the FIU, which plays a leading role in protecting the integrity of the Island’s financial system.
The FIU receives, analyses and disseminates financial intelligence to enable its partner agencies in the Isle of Man and overseas to investigate financial crime, including tax evasion, money laundering and the financing of terrorism. Work carried out by the FIU assists the overall drive to disrupt criminal activity, secure prosecutions and confiscate the proceeds of crime.
A separate legal entity established by the Financial Intelligence Unit Act 2016, the FIU also advises the Isle of Man Government on emerging financial crime threats.
Mrs Bermingham said:
‘This is an exciting new chapter in my career and I am looking forward to working with my colleagues to support efforts to safeguard the Isle of Man’s reputation as a responsible international business centre. The methods employed by criminals are becoming increasingly sophisticated. We must rise to the challenge of building and sharing information to tackle those who seek to use the Isle of Man for criminal or corrupt purposes.’
The FIU acts as the Isle of Man’s national centre for the receipt and analysis of Suspicious Activity Reports and other financial intelligence. It ensures the Island meets international standards and recommended best practice.
Mrs Bermingham’s appointment has been welcomed by Home Affairs Minister Bill Malarkey MHK who said:
‘The Isle of Man has a long-standing commitment to complying with international standards on tax cooperation, transparency and combatting money laundering and the financing of terrorism. Strengthening our ability to identify and address high-level financial crime and corruption will ensure the Isle of Man continues to develop as a safe, well-regulated and dynamic business centre. I am sure Mrs Bermingham will steer the FIU forward with great skill and conviction.’
