Isle of Man

A Bill is due to be placed before the Island's Parliament, The Tynwald, in March 2008 to amend the Island's law in relation to forfeiture of the proceeds of crime, money laundering and the detention of cash suspected of being connected to drugs offences and other serious crime, and to make it easier for the Island's law enforcement agencies to provide assistance to other jurisdictions conducting investigations.

The Isle of Man has a well-established reputation for being a jurisdiction that does not tolerate the use of its financial or other institutions to launder or hide the proceeds of criminal conduct. The new legislation, together with the Financial Services Act 2008, will prevent and discourage the use of the Island by criminals seeking to hide their criminal proceeds.