VI Government Commits to Fighting Financial Crime as ICC FraudNet Marks 20th Anniversary
[Scrub Island, US Virgin Islands] - The government of the British Virgin Islands (BVI) has reaffirmed its commitment to combating financial crime, as the International Chamber of Commerce’s (ICC) FraudNet marked its 20th anniversary on April 19, 2024.
Government Pledges Strong Stance Against Financial Crime
In a keynote address at the special conference, Deputy Premier and Minister for Financial Services, Labour, and Trade Lorna G. Smith emphasized the government’s dedication to fighting fraud in all forms. The event brought together over 100 attendees from 71 countries, including leading asset recovery lawyers and representatives from strategic partner organizations.
Geopolitical Instability Exacerbates Risks of Financial Crime
As global instability continues to increase the risks associated with financial crime, Honourable Smith reiterated the government’s promise to combat these threats. “I am immensely proud that ICC FraudNet chose the Virgin Islands for its 20th anniversary conference,” she said. “There is no doubt that we face challenges from those with criminal intent who seek to misuse our services.”
Government Commends Industry and Private Sector
The Minister also acknowledged the vital role played by industry members and the private sector in upholding high standards, and reinforced the government’s commitment to its robust regulatory regime and adherence to the rule of law.
ICC FraudNet Celebrates 20 Years of Global Cooperation
With a bi-annual meeting and conference schedule, ICC FraudNet has hosted 39 events in over 30 countries. The successful 10th anniversary event was held a decade ago in the Virgin Islands, demonstrating the Territory’s reputation as a hub for international cooperation on financial crime issues.
Key Partners
- GreyList Trace
- Mintz
- BDO
- Grant Thornton
About ICC FraudNet
ICC FraudNet is a global network of top asset recovery lawyers and experts that brings together professionals from over 100 countries to combat financial crime. The organization holds bi-annual meetings and conferences, promoting international cooperation and collaboration on financial crime issues.
Government Commitment
The government of the British Virgin Islands remains committed to combating financial crime and upholding high standards in the industry. With a robust regulatory regime and adherence to the rule of law, the Territory continues to demonstrate its reputation as a hub for international cooperation on financial crime issues.