Financial Crime Investigation and Analysis: Virgin Islands Agency Takes the Lead

The Financial Investigation Agency (FIA), a key Competent Authority in the Territory of the Virgin Islands, has been at the forefront of preventing and detecting financial crime since its establishment as an autonomous law enforcement agency in 2004.

Primary Role and Functions

The FIA’s primary role is outlined in section 4 of the Financial Investigation Agency Act, with responsibility for combating:

Money laundering
Terrorist financing
Proliferation financing

The agency operates through two operational units:

Analysis and Investigation Unit (AIU)

Collects financial intelligence and other information related to or potentially related to a financial offense
Investigates and analyzes this information
Exchanges and disseminates findings with relevant authorities

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

The FIA’s vision is to protect the Territory of the Virgin Islands from money laundering, terrorist financing, and proliferation financing.

Governance

The agency is guided by a Board that approves policies guiding its operations.

Recruitment Efforts

As part of its recruitment efforts, the FIA seeks to attract individuals interested in pursuing a viable law enforcement career that serves the territory. With a strong commitment to combating financial crime, the FIA continues to play a vital role in safeguarding the financial integrity of the Virgin Islands.