Chief Minister Alfred Cannan MHK has stressed the importance of safeguarding the Isle of Man’s financial services sector as the Island prepares for a major international review.

Opening the Countering Financial Crime Conference at the Villa Marina on Wednesday, Mr Cannan told an audience of around 600 people that government would continue to pursue economic growth while disrupting those seeking to misuse financial systems.

He said: ‘Maintaining the integrity of our financial services sector is essential to supporting the competitiveness of our existing businesses and attracting quality new investment and jobs. It is critical that our government agencies, island firms and non-profit organisations work collaboratively as part of a united national response against organised crime.’

The Chief Minister underlined the significance of the Isle of Man’s MONEYVAL evaluation, scheduled for October 2026. MONEYVAL, the Council of Europe’s monitoring body, assesses jurisdictions’ compliance with international standards on money laundering and the financing of terrorism.

Mr Cannan said: ‘Securing a positive outcome is fundamental to our immediate and longer-term economic success. We must seize the opportunity to showcase the Island as a trusted member of the global community that continues to meet its international obligations.’

The Countering Financial Crime Conference is regarded as the island’s flagship event in the realm of financial crime. It brought together government agencies, financial services firms and non-profit organisations to share expertise, highlight risks and strengthen cooperation against criminal activity.

Mr Cannan said the event demonstrated the island’s commitment to addressing financial crime through a coordinated approach, adding that collaboration between sectors would be key to protecting the Island’s reputation and ensuring future prosperity.

Speaking about the conference, Minister for Justice and Home Affairs Jane Poole-Wilson MHK, the Anti-Money Laundering and Countering Financing of Terrorism Lead for the Isle of Man Government, said: ‘Our shared goal is to make sure that we maintain our security against financial crime so that the island’s economy can prosper.’