english zloty Posted August 23 Share Posted August 23 3 minutes ago, Twitch said: Is that it? Shamed into making a Friday afternoon response. Probably proofread on a mobile phone from the back garden. 1 1 1 Quote Link to comment Share on other sites More sharing options...
2112 Posted August 23 Share Posted August 23 1 minute ago, Twitch said: Is that it? A joke of a statement, hiding behind investigation by ‘authorities’. It’s hardly sends a message to watchdogs and bodies within the UK and EU that the IOM is well financially regulated, and its authorities take firm and decisive action. Yes, King and Co had their licences terminated swiftly, but from the investigation by the BBC and others, it seems IOMG have many many questions to answers and all they are doing when they receive bad news is to obstruct and kick the can down the road in the hope the problem disappears. 1 Quote Link to comment Share on other sites More sharing options...
The Phantom Posted August 23 Share Posted August 23 8 minutes ago, 2112 said: It’s hardly sends a message to watchdogs and bodies within the UK and EU that the IOM is well financially regulated We are though and that's the massive irony with all of this. Have you tried to do financial business literally anywhere else in the World? Due to AML, Compliance etc we are a massive pain in the arse to do business with. I'm constantly explaining to clients why I need info from them that they are not required to provide anywhere else. Which is why this makes it all the more strange. 2 1 Quote Link to comment Share on other sites More sharing options...
woolley Posted August 23 Share Posted August 23 What kind of statement did you expect? What more can they say? 5 Quote Link to comment Share on other sites More sharing options...
woolley Posted August 23 Share Posted August 23 1 minute ago, The Phantom said: We are though and that's the massive irony with all of this. Have you tried to do financial business literally anywhere else in the World? Due to AML, Compliance etc we are a massive pain in the arse to do business with. I'm constantly explaining to clients why I need info from them that they are not required to provide anywhere else. Which is why this makes it all the more strange. Very true. The only thing I can think is that these measures are a pain in the arse to above board businesses, but scammers are going to know all the twists and turns for playing the system. Ironically, all of this compliance stuff means that through the principle of evolution you lose all but the best scammers. 2 Quote Link to comment Share on other sites More sharing options...
Gladys Posted August 23 Share Posted August 23 33 minutes ago, 2112 said: A joke of a statement, hiding behind investigation by ‘authorities’. It’s hardly sends a message to watchdogs and bodies within the UK and EU that the IOM is well financially regulated, and its authorities take firm and decisive action. Yes, King and Co had their licences terminated swiftly, but from the investigation by the BBC and others, it seems IOMG have many many questions to answers and all they are doing when they receive bad news is to obstruct and kick the can down the road in the hope the problem disappears. How do you know that IOMG is not already fully aware of the matters in the investigation, and possibly been so for some time? There is an investigation ongoing and that will inhibit what is said, but the statement should really have been ready to go in short order when the BBC report was published. 1 Quote Link to comment Share on other sites More sharing options...
Ringy Rose Posted August 23 Share Posted August 23 1 hour ago, 2112 said: It’s hardly sends a message to watchdogs and bodies within the UK and EU that the IOM is well financially regulated, and its authorities take firm and decisive action King Gaming had its windows kicked in at 6am by the Constabulary months ago and as a result had its entire business shut down. 55 minutes ago, Gladys said: There is an investigation ongoing and that will inhibit what is said, but the statement should really have been ready to go in short order when the BBC report was published I suppose it depends on whether they knew the BBC World Service were about to put the report out. It’s interesting the BBC didn’t say in their article that they had approached the government for comment. 2 Quote Link to comment Share on other sites More sharing options...
cheesypeas Posted August 23 Share Posted August 23 On BBC TV news soon Quote Link to comment Share on other sites More sharing options...
NoTail Posted August 23 Share Posted August 23 (edited) Do we know the advocates and accountants that acted for these Chinese in setting up the companies etc? Edited August 23 by NoTail 1 Quote Link to comment Share on other sites More sharing options...
FANDL Posted August 23 Share Posted August 23 1 hour ago, The Phantom said: We are though and that's the massive irony with all of this. Have you tried to do financial business literally anywhere else in the World? Due to AML, Compliance etc we are a massive pain in the arse to do business with. I'm constantly explaining to clients why I need info from them that they are not required to provide anywhere else. Which is why this makes it all the more strange. That appears to be the main feedback from the finance sector today. People sick and tired of not being able to bank clients and not being able to properly grow their businesses for years due to the regulatory situation here basically wondering what the point has been. Also those who have tried to bring in staff and who came up against issues or tried to get grants or other support from government when the perception is that we have thrown the kitchen sink at a load of fraudsters who have now ruined the Islands image and now it’s going to get even worse for everyone left. Jason Moorhouses’ question on grants and subsidy’s will be very interesting. 3 1 Quote Link to comment Share on other sites More sharing options...
Gladys Posted August 23 Share Posted August 23 27 minutes ago, Ringy Rose said: King Gaming had its windows kicked in at 6am by the Constabulary months ago and as a result had its entire business shut down. I suppose it depends on whether they knew the BBC World Service were about to put the report out. It’s interesting the BBC didn’t say in their article that they had approached the government for comment. Yes, they may not know when and what would hit the headlines, but younthink there would be a press release, already agreed with the relevant authorities ready to go when there was adverse publicity. Not hours later. It was a very non-case specific response. 1 Quote Link to comment Share on other sites More sharing options...
cheesypeas Posted August 23 Share Posted August 23 Want the guy from King Gaming Alfs guest of honour at Tynwald last year ? Quote Link to comment Share on other sites More sharing options...
2112 Posted August 23 Share Posted August 23 6 minutes ago, cheesypeas said: Want the guy from King Gaming Alfs guest of honour at Tynwald last year ? It would be very interesting to see the level of schmoozing that IOMG has done with this outfit - King, and also how much grants, loans or other assistance. How much has the taxpayer lost in terms of tax receipts and NI receipt payments? 1 Quote Link to comment Share on other sites More sharing options...
Albert Tatlock Posted August 23 Share Posted August 23 28 minutes ago, cheesypeas said: Want the guy from King Gaming Alfs guest of honour at Tynwald last year ? Not on official lists I've seen. https://www.tynwald.org.im/tynwald-day/TD2023 1 Quote Link to comment Share on other sites More sharing options...
Ringy Rose Posted August 23 Share Posted August 23 (edited) 46 minutes ago, FANDL said: That appears to be the main feedback from the finance sector today The finance sector say that about everywhere though. They moan about Gibraltar, they moan about Malta, they moan about Jersey. Maybe Gibraltar didn’t ask the same things. So MONEYVAL stuck them on the naughty step and Gibraltar have publicly admitted it cost them 10% of their GDP. And that’s just what they’re prepared to admit to publicly. And if you think the IOMFSA are bureaucratic, have you ever had to deal with the UK? Edited August 23 by Ringy Rose Quote Link to comment Share on other sites More sharing options...
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