The Report recognises the significant work that BVI has undertaken to strengthen its’ existing AML/CFT/CPF framework and mechanisms, to improve regulation of businesses operating in the BVI and to ensure alignment with the highest global standards. These include monitoring and risk-based supervision of financial institutions and Designated Non-Financial Businesses and Professions, collection and maintenance of adequate, accurate and up to date beneficial ownership information to mitigate against misuse of legal persons registered in the BVI and granting enhanced powers to the BVI Financial Investigation Agency to ensure that sanctions are more effectively enforced.
The BVI Government press release includes further details and a link to the Report.
