The British Virgin Islands has taken further steps which the government says are aimed at safeguarding the reputation of its offshore financial sector.
Changes have been passed to the Customs Management and Duties (Amendment) Act 2021 which the government says is part of measures against the territory being blacklisted.
Premier Andrew Fahie remarked: “The amendment is geared towards ensuring that the territory fulfils its international obligation of combatting money laundering and terrorism financing and the Financial Investigation Authority (FIA)’s rule of safeguarding the activities against money laundering and terrorist financing and proliferation financing would be further enhanced.”
Mr Fahie said this is one of a series of measures being out in place as the BVi is due to be assessed for compliance with international standards “so that we can fall in line and avoid being blacklisted when the inspection is had.”
14 Sep, 2021
07 Sep, 2021
15 Sep, 2021