The Financial Investigation Agency: A Key Player in Combating Financial Crime in the Virgin Islands

Introduction

The Financial Investigation Agency (FIA) has been at the forefront of combating financial crime in the Territory of the Virgin Islands for over a decade. As one of the key Competent Authorities in the region, the FIA plays a vital role in preventing and detecting financial offenses such as money laundering, terrorist financing, and proliferation financing.

Establishment and Mandate

The FIA was established by the Financial Investigation Agency Act, 2003, an autonomous law enforcement agency with a primary role and functions outlined in section 4 of the Act. The agency’s two operational units are:

• Analysis and Investigation Unit (AIU): Responsible for collecting, receiving, investigating, analyzing, exchanging, and disseminating financial intelligence related to or that may relate to a financial offense.
• Supervision and Enforcement Unit (SEU): Supervises Designated Non-Financial Businesses and Professions and Non-Profit Organizations operating in or from within the Territory for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) purposes.

Vision and Governance

The FIA’s vision is to protect the Territory of the Virgin Islands from money laundering, terrorist financing, and proliferation financing. The agency is guided by a Board that approves its policies and operations.

Career Opportunities

In addition to its operational units, the FIA also offers career opportunities for individuals interested in a viable law enforcement career that serves the territory. With its commitment to combating financial crime, the Financial Investigation Agency remains a crucial player in maintaining the integrity of the Virgin Islands’ financial system.