Anti-Money Laundering

Money laundering is the term that describes the various methods used by criminals to conceal the true origin and ownership of the money that they make from crime.

 

RL360° Services is regulated by the Isle of Man Financial Services Authority and follows their Guidance Notes on Anti-Money Laundering and Countering the Financing of Terrorism for insurers. This reflects the Isle of Man’s commitment to maintain the highest possible standards of business practice and to counter money laundering and the financing of terrorism.

 

The overriding requirement behind anti-money laundering legislation and regulation is 'Know Your Customer'. This applies equally wherever the applicant is based and whether the applicant is personal, corporate, trust, nominee or any other category. Verification is required for all new business relationships and transactions. Where a firm is unable to verify the identity of an applicant, by law it is unable to proceed any further with the transaction.

 

Please note transactions may be delayed or refused if any documents required for anti-money laundering are outstanding. If you have any queries about the anti-money laundering requirements, please contact your financial adviser.