Financial Crime World

Financial Crime Prevention Agency Strengthens Efforts in US Virgin Islands

The Financial Investigation Agency (FIA), a key Competent Authority in the Territory of the United States Virgin Islands, has been dedicated to preventing and detecting financial crimes, including money laundering, terrorist financing, and proliferation financing.

History and Mission

Established in 2004 as an autonomous law enforcement agency, the FIA’s primary role is to collect, receive, investigate, analyze, exchange, and disseminate financial intelligence and other information related to or potentially related to a financial offense. The agency’s vision is to protect the Territory of the United States Virgin Islands from money laundering, terrorist financing, and proliferation financing.

Operational Units

The FIA consists of two operational units:

  • Analysis and Investigation Unit (AIU): responsible for investigating financial crimes.
  • Supervision and Enforcement Unit (SEU): supervises Designated Non-Financial Businesses and Professions and Non-Profit Organizations operating in or from within the territory to ensure compliance with Anti-Money Laundering and Countering the Financing of Terrorism regulations.

Governance and Recruitment

The FIA is guided by a board, which approves policies guiding its operations. Additionally, the agency seeks to recruit and develop individuals interested in a law enforcement career that serves the territory.

Commitment to Financial Crime Prevention

With a strong commitment to financial crime prevention, the FIA continues to strengthen its efforts to ensure the security and integrity of the US Virgin Islands’ financial system. The agency remains dedicated to preventing and detecting financial crimes, protecting the territory’s financial system, and serving the community.

Conclusion

The Financial Investigation Agency is an essential component in the fight against financial crime in the Territory of the United States Virgin Islands. Its commitment to strengthening efforts ensures the continued security and integrity of the territory’s financial system.