The Isle of Man Financial Supervision Commission (FSC) says that it has not probed any possible links between Isle of Man companies or business interests and the ongoing BAe corruption allegations.

Responding to a query from the Celtic League FSC boss, John Aspden, says "The FSC has not undertaken an investigation into the BAe allegations to which you refer".

The FSC inertia is surprising given that there were reports in African journals last years that a businessman, reputed to have Isle of Man business links, had been probed over a BAe connection just as the so-called 'slush fund' enquiry was reportedly being expanded to include arms and equipment deals in Africa.

However, intriguingly Mr Aspden adds "However I cannot speak for other authorities on the Island who might more typically be involved in the type of criminal investigation to which you also refer."

It is unclear who he means by "other authorities on the Island" although it could be a reference to the Financial Crime Unit (FCU) an organisation which is currently (subject to Tynwald approval) in the process of metamorphosing from direct Police accountability to the purview of the Treasury.

Much is written about the FCU these days but trawling through this one finds little of substance.

The organisation certainly seems to have gained in size and stature since it was a fairly competent 'one man, a clerk and a borrowed photocopier operation' almost two decades ago. In those days it adopted a fairly high profile in speaking out - sometimes to the discomfort of its political masters - on money laundering and fraud issues.

It is unclear however if its subsequent growth, in terms of both personnel and 'swanky' premises, has been complemented by a proportional increase in performance as little can be deduced about what success, if any it achieves. Indeed its image has been slightly overshadowed by its linkage to several high-profile local news stories. In 2005 the former head of the unit won a landmark judgement over the monitoring of his phone calls while he was suspended from the police force. The controversy surrounding this still goes on.

More disturbingly, in a totally unrelated case, also in 2005, one of its detectives who committed fraud totalling more than £100,000 was sentenced to six months in prison.

The FCU website meanwhile has a somewhat 'PC Pinkerton' appearance about it advising that if you wish to report any "financial crime, such as fraud or theft you should report these directly to your local Neighbourhood Policing Team, or if you reside outside the Isle of Man, to your local police station."

One gets the feeling that anyone facilitating a 'slush fund' via the Isle of Man would not have much to fear!

J B Moffatt Director of Information Celtic League

17/05/07

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