A Constabulary spokesperson said that authorities will collaborate to prevent, identify, and disrupt money laundering
The Isle of Man authorities have raided the offices of two online gaming companies. The action comes as part of a broader investigation into money laundering, officials confirmed.
Police Raid iGaming Companies’ Offices
As reported by Isle of Man Today, a local news outlet, the police raided the offices of Ableton Prestige Global Limited and Amiga Entertainment Limited. The operators’ hubs were located on the second floor of the Falcon House on Ridgeway Street in central Douglas and could have been used for fraud.
A spokesperson for the Isle of Man Constabulary explained that his team had executed the search warrant in relation to a large-scale international money laundering investigation. According to the spokesperson, the police arrested two individuals both of whom were later released on bail.
For context, Ableton Prestige Global acquired a license in September 2018. This license was eventually surrendered a year ago.
The Government Vows to Prevent Crime
The Constabulary spokesperson added that authorities will continue to collaborate to prevent, identify, and disrupt money laundering and other criminal activity of this nature. He further explained that money laundering is often associated with even more severe crimes.
Money laundering is not a victimless crime and can be generated from other, appalling offenses such as drug, arms, and human trafficking, environmental crime, modern slavery, bribery, and corruption.
Constabulary spokesperson
The Constabulary representative added that regulators across the self-governing British Crown dependency, as well as businesses across all sectors, should remain vigilant and protect the region from criminal exploitation.
The spokesperson concluded that the government would do anything in its power to disrupt both financial and non-financial crime and protect its citizens.
The Isle of Man Remains Committed to Tackling Crime
Speaking of money laundering, the Isle of Man recently announced that it will be strengthening its iGaming sector against bad actors from East and Southeast Asia. In an official announcement, the government explained that its agencies will be taking “significant and wide-reaching actions” to enforce the law and investigate crime.
This announcement was consistent with the island’s Financial Crime Strategy 2024-2026.
Speaking of which, the Gambling Supervision Commission (GSC) boasts an enhanced program of monitoring and is ever-stricter in its licensing policies. The government confirmed that license applicants from South and Southeast Asia are subject to additional scrutiny in order to prevent crime and fraud.
In the meantime, the government is working on additional AML law amendments to prevent fraud. This included an updated National Risk Assessment, in line with the recommendations of the Financial Action Task Force (FATF).
