"The light that comes from wisdom never goes out"
A recent report has found that the Virgin Islands has made “significant” headway in addressing the technical deficiencies that helped land the territory on the Financial Action Task Force’s so-called …
Continue reading “Gov’t touts ‘grey list’ progress, but expert says VI has a long way to go”
The government has scrambled to put a brave face on the news that the Virgin Islands was recently placed on a “grey list” of jurisdictions subject to increased scrutiny by …
Continue reading “Grey-listing ‘not a setback,’ Smith claims”
A Virgin Islands delegation travelled to France this week to attend a meeting where a global financial watchdog is expected to decide whether to sanction the VI for falling short …
The government is prepared to deal with any fallout if the Virgin Islands is censured by global financial watchdogs next month, according to Premier Natalio “Sowande” Wheatley. His comments come …
Continue reading “VI ready if ‘grey list’ hits, premier says”
The BVI Financial Investigation Agency is expected to get extra powers to combat money crime and terrorism financing under a bill the House of Assembly passed on Tuesday. Premier Dr. …
New moves to combat financial crime have been hailed by Premier Dr. Natalio “Sowande” Wheatley as key to enhancing international confidence in the Virgin Islands. His comments came as the …
Continue reading “Virgin Islands takes more action on money crime”
The House of Assembly suspended its usual rules on Monday to introduce and pass two financial services bills designed to avoid international sanction by bringing the territory in line with …
Two days before the missed Saturday deadline for completing the sweeping reforms recommended by the Commission of Inquiry, the House of Assembly suspended its usual rules to introduce 12 bills. …
The Virgin Islands is headed for increasingly intense international scrutiny despite a government drive to push through a raft of anti-financial-crime measures in the coming weeks, experts have warned. Deputy …
Continue reading “Virgin Islands heading for intense financial scrutiny, experts predict”
The Virgin Islands must make “substantial progress” in the coming months to combat money laundering and terrorism financing in order to reinforce its status as a credible financial hub, Deputy …
Continue reading “VI must move quickly on financial reforms, minister says”
A straightforward revamp of Virgin Islands business law would help combat financial crime and boost the territory’s reputation while potentially putting tens of millions of dollars in the government’s coffers, …
The Virgin Islands is not facing a crisis in combating financial crime despite a recent report by international watchdogs which some experts viewed as scathing, Deputy Premier Lorna Smith said …
Compared with at least two overseas territories that operate rival financial industries, the Virgin Islands still has a “mountain to climb” when it comes to proving its effectiveness in combating …
Continue reading “Money-laundering review rates VI below rivals”
The Virgin Islands should take tougher action to mimimise the threat of terrorist financing, according to a recent review of its systems to prevent financial crime. The mutual evaluation report …
Continue reading “Virgin Islands urged to up vigilance against terrorism financing”
A major international report released Monday raises serious concerns about the territory’s ability to deal with money laundering and other financial crime, leading one expert to warn that “red lights” …
Continue reading “Money laundering report brings threat of ‘grey list’”
