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Financial Sanctions Guidance

Monday, 1 August 2022

The Treasury advises that the Financial Sanctions guidance has been amended following changes to the statutory documents relating to financial and trade sanctions.

This guidance is produced by the Customs and Excise Division, part of the Treasury, which is the authority for the implementation of financial sanctions in the Isle of Man.

It outlines your obligations under financial sanctions as well as Treasury’s approach to licensing and compliance issues. It takes into account relevant case law and guidance at the date of publication.

This guidance is general in nature so you should also refer to the relevant, up-to-date legislation as well as specific sanctions guidance where it is available.

Please note that each case will be considered on the facts and the specific legal requirements that apply. Please note that the Treasury cannot issue definitive guidance on how the Isle of Man courts might interpret these laws.

Finally, this guidance does not represent legal advice. If you are unsure about your obligations in a given case, you should consider taking independent legal advice.

Failure to comply with financial and trade sanctions legislation or to attempting to circumvent its provisions is a criminal offence.

Further details may be found on the Customs and Excise pages of the Isle of Man Government website.

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