Money Laundering Detection Methods in the Virgin Islands, US Take Center Stage

BVI Financial Services Commission Releases Latest Risk Assessment

In a move aimed at bolstering efforts to combat financial crime, the British Virgin Islands (BVI) Financial Services Commission and Financial Investigation Agency have published their 2022 Money Laundering (ML) Risk Assessment. This report marks the latest chapter in the territory’s ongoing commitment to identifying, assessing, and mitigating money laundering risk in line with guidelines set by the Financial Action Task Force.

Unwavering Dedication to Staying Ahead of Emerging Threats

The assessment builds upon the findings of previous studies conducted by the Commission and FIA, underscoring the Virgin Islands’ unwavering dedication to staying ahead of emerging threats in the global fight against financial crime. The release of this latest report is seen as a significant development in the region’s ongoing efforts to safeguard the integrity of its financial system.

Key Takeaways

• The report identifies and assesses money laundering risk in line with guidelines set by the Financial Action Task Force.
• It builds upon previous studies conducted by the Commission and FIA, demonstrating the territory’s commitment to staying ahead of emerging threats.
• The release of this latest report is a significant development in the region’s efforts to safeguard the integrity of its financial system.

Accessing the Full Report

Those interested in reading the full document are encouraged to access the attachment list for further information.