Isle of Man tightens charity finance rules to combat terrorism risks
The Isle of Man is updating its rules to prevent finance in the charity sector. A new draft code, the SNPO (Countering the Financing of Terrorism) Code 2026, has been released for public feedback. While no local charities have been linked to such risks, officials are taking steps to strengthen safeguards in line with global standards.
The proposed changes aim to align the island's policies with international guidelines. These include recommendations from the Financial Action Task Force (FATF), UN Security Council resolutions, and EU directives. The updated framework will focus on risk-based oversight, ensuring measures remain proportionate to actual threats.
A drop-in session for affected charities will take place on February 11, 2026, at the Promenade Methodist Church in Douglas. The event, organised by the Financial Services Authority, is designed for organisations that may fall under the new definition of a Specified Non-Profit Organisation (SNPO).
Representatives will be on hand to clarify the changes, offer support, and address concerns. Charities can also access free training, template documents, and a dedicated contact point for ongoing assistance. The consultation period allows groups to share their views before the final version of the code is adopted.
The revised framework will introduce stricter but balanced controls for charities working internationally. By adopting FATF and EU-aligned standards, the Isle of Man seeks to prevent misuse of the sector while minimising unnecessary burdens. The final code will reflect feedback gathered during the consultation process.
