Why is it important to be aware of the risk?

In the Isle of Man, entities such as TCSPs (Trust and Corporate Service Providers), legal firms,
banks, and other financial institutions that fall under anti-money laundering and counter-
financing of terrorism (AML/CFT) regulations play a crucial role in combating Trade-Based
Money Laundering (TBML). Increasing awareness of TBML within these sectors can help
mitigate the Island's susceptibility to TBML risks.
The substantial and prosperous TCSP sector on the Island means that TBML poses a
potentially significant risk. What makes this sector attractive to legitimate businesses can
also make it an appealing target for money launderers.
Apart from the risks to individual businesses and individuals involved, there's a broader
concern that the business sector and the Isle of Man as a whole could face severe
reputational damage if it were perceived as a facilitator of TBML.