The island has issued its first National Risk Appetite Statement (NRAS) targeting financial crime risks in the eGaming sector, citing growing threats from transnational organised crime.
The policy, published in May 2025, warns of “limited appetite for business in the eGaming sector where there is ownership and/or control from East or Southeast Asia,” reflecting concerns over money laundering and fraud linked to the region.
The document stresses that regulators “will not authorise new business” if higher-risk factors, such as opaque corporate structures or ties to jurisdictions flagged by the FATF, accumulate.
Existing licensees must treat the NRAS as a “trigger event,” reviewing customer relationships and applying “appropriate action and/or mitigation measures.”
Reputable
Minister Jane Poole-Wilson emphasised the island’s stance: “The Isle of Man is open for good quality, reputable business.
“This Statement provides clarity to industry and wider stakeholders to ensure our economy remains strong while protecting against exploitation.”
The eGaming sector, a key economic pillar (16% of GDP), faces stricter oversight, particularly for software suppliers and cross-border operations.
The Gambling Supervision Commission (GSC) will apply “proportionate enhanced measures” to high-risk applications, guided by UN reports on criminal networks in Southeast Asia.
Aligned with the Financial Crime Strategy 2024–2026, the NRAS underscores the Isle of Man’s “hostile environment to criminals.”
A broader national risk framework is expected by late 2025.
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