Financial Crime World

British Virgin Islands Financial Services Commission Prioritizes Compliance and Risk Management

The British Virgin Islands Financial Services Commission (BVI FSC) has reaffirmed its commitment to maintaining a robust compliance and risk management framework in the financial sector of the British Virgin Islands.

About the BVI FSC

Established in 2001, the BVI FSC is an autonomous regulatory authority responsible for regulating, supervising, and inspecting all financial services in and from within the territory. The commission’s mission is to promote public confidence in the financial system while protecting consumers and maintaining economic stability.

Compliance and Risk Management

The BVI FSC has implemented various measures to ensure compliance with anti-money laundering (AML) and counter-terrorism financing (CFT) regulations, including:

  • Conducting regular risk assessments and monitoring suspicious transactions
  • Providing guidance and training to regulated entities on AML/CFT policies and procedures

Risk Management Strategy

The BVI FSC has also put in place a comprehensive framework for managing risks associated with financial services, including:

  • Banking
  • Insurance
  • Investment business
  • Other activities

The commission’s risk management strategy is designed to identify, assess, and mitigate potential risks that could impact the stability of the financial system.

Transparency and Accountability

The BVI FSC has implemented various initiatives to promote transparency and accountability in the financial sector, including:

  • Publishing a public list of regulated entities and other entities operating in the territory
  • Providing regular updates on its activities and initiatives through its website and social media channels

Contact Information

For more information or assistance, please contact the BVI FSC at:

  • Address: 18 Pasea Estate Road, Road Town, TORTOLA, VG1110, British Virgin Islands
  • Telephone: (284) 494-1324 or (284) 494-4190
  • Business Hours: Monday - Friday, 8:30 a.m. - 4:30 p.m.
  • Email: info@bvifsc.vg
  • Website: www.bvifsc.vg