The island’s overall money laundering risk remains “Medium High”, according to an updated National Risk Assessment.
The comprehensive review, covering 2020 to 2025, confirms the same rating as the previous assessment in 2020, with officials noting that while threats have intensified, national controls have strengthened accordingly.
Foreign predicate offending, particularly cyber-enabled fraud, investment scams and large-scale international schemes, remains the principal money laundering driver.
While transnational organised crime, including Asian and UK-linked groups, has increased, impacting the online gambling market and virtual asset activity.
Service Providers
A separate sectoral assessment for Trust and Corporate Service Providers also maintains a “Medium High” risk rating, reflecting the sector’s international client base and use of complex structures.
The sector accounts for approximately three per cent of national income.
Justice and Home Affairs Minister Jane Poole-Wilson said: “I would like to thank all agencies, regulators and industry partners for their considerable work in producing this comprehensive suite of assessments.
“Maintaining a stable risk profile in an increasingly complex global environment reflects the strength of our regulatory framework and the collective efforts across the Island to safeguard the integrity of our financial system.”
The highest-risk sectors identified are Banking, Online Gambling, and Trust and Corporate Service Providers, which combine high materiality, international client bases and significant exposure to higher-risk jurisdictions.