The British Virgin Islands’ Financial Services Commission published volume 63 of its Quarterly Statistical Bulletin, highlighting regulatory oversight activities undertaken in June 2021.
The British Virgin Islands Financial Services Commission published the National Anti-Money Laundering and Combating the Financing of Terrorism 2021-2023 Strategy, to help public and private stakeholders effectively implement anti-money laundering and counterterrorist financing measures.
U.S. lawmakers plan AML rules for lawyers and accountants, U.S. beneficial-ownership exemptions create gaps for financial crime, and more, in the midweek roundup.
Months Before Latest Leak, US Bill Created Potential Money Laundering Loophole
Providers of anonymously held trusts and shell companies in the British Virgin Islands, U.S. and elsewhere helped corrupt politicians, conmen and other criminals move billions of dollars around the globe for a period of two decades, the latest, large-scale leak of banking and corporate data shows.
Midweek Roundup: Canadian AML Whistleblower Vanishes, US Treasury Revokes Gertler License, and More
The Financial Services Commission issued an enforcement action against the British Virgin Islands-based office of the Panamanian law firm requiring it to appoint a qualified person to advise it proper business conduct pursuant to the Financial Services Commission Act.
The Financial Services Commission of the British Virgin Islands issued a directive against the British Virgin Islands office of the Panamanian law firm pursuant to the Financial Services Commission Act, 2001. The directive orders the firm to restrict its business and refrain from entering contracts.
| Technical | Effectiveness |
|---|---|
| Compliant : 18 | High : |
| Largely Compliant : 15 | Substantial : |
| Partially Compliant : 15 | Moderate : |
| Non-Compliant : 1 | Low : |
| Rank : N/A |
| Score : N/A |
| Rank : N/A |
| Score : N/A |
| Rank : 9/133 |
| Score : 71/100 |