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 …
September 19, 2024
September 4, 2024
12 bills laid days before COI deadline
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. …
August 17, 2024
Virgin Islands heading for intense financial scrutiny, experts predict
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 …
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May 17, 2024
VI must move quickly on financial reforms, minister says
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 …
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May 6, 2024
Call made for civil asset forfeiture law
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, …
April 15, 2024
Smith: Money-crime report not ‘damning’
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 …
March 18, 2024
Money-laundering review rates VI below rivals
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 …
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March 11, 2024
Virgin Islands urged to up vigilance against terrorism financing
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 …
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February 29, 2024
Money laundering report brings threat of ‘grey list’
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” …
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