Beautiful Virgin Islands

Monday, Aug 04, 2025

Over 70 gov’t and statutory board reps trained ahead 2023 evaluation

Over 70 gov’t and statutory board reps trained ahead 2023 evaluation

More than 70 government and statutory body representatives have received training as the BVI prepares to undergo its Fourth Round Caribbean Financial Action Task Force (CFATF) Mutual Evaluation in 2023.

In a recent press release by the Premier’s Office, it noted that members of the International Monetary Fund (IMF) facilitated the training and participants were educated on the Mutual Evaluation process and standards and stakeholder expectations during the assessment.

The Mutual Evaluation is based on the International Standards on Combatting Money Laundering and the Financing of Terrorism and Proliferation set out by the Financial Action Task Force.

Anti-money laundering


These standards will be used to determine the effectiveness of the Virgin Islands’ anti-money laundering and counter-terrorist financing (AML/CFT) systems, policies, and procedures in combatting money laundering, terrorist financing and proliferation financing.

The two-day programme, which began on June 27, also highlighted money laundering and terrorist financing risk in the context of the Virgin Islands landscape, the principles and process for addressing technical compliance with the Financial Action Task Force (FATF) standards, and principles and best practices for demonstrating effectiveness with respect to the FATF’s Immediate Outcomes.

Premier and Minister of Finance, Dr Natalio Wheatley, said he fully recognised and endorsed the efforts being made to ensure the territory’s preparedness for the upcoming assessment.

“My government recognises the central role the Virgin Islands plays in international finance, the obligation we owe ourselves to maintain a clean and stable society and the responsibility of cross-border cooperation we share with other countries and territories,” the Premier said.

BVI in the front-line defence


Dr Wheatley, who serves as the Chairman of the National Anti-Money Laundering Coordinating Council (NAMLCC), reminded the participants that they are in Virgin Island’s front-line defence against illicit activity and the guardians of its reputation. He added the training should extend further than the purpose of the mutual evaluation.

“You are well-positioned to protect the financial perimeter of this territory by doing all that is necessary to deny persons engaged in financial crime from finding sanctuary within our midst,” the Finance Minister said.

In addition to the training for government officers, workshops were held for members of the private sector who will be involved in the evaluation. These sessions provided the territory’s financial institutions and designated non-financial businesses and professionals with an overview of the Mutual Evaluation Process while helping them to prepare for the assessment.

Other speakers at the opening ceremony included Governor John Rankin; Managing Director/CEO of the BVI Financial Services Commission, Kenneth Baker; and Senior Financial Sector Expert within the Financial Integrity Group of the IMF, Carolina Claver.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
Tesla Seeks Shareholder Approval for $29 Billion Compensation Package for Elon Musk
Nvidia is cutting prices on its RTX 50-series graphics cards after sales slowed and inventories piled up
Ghislaine Maxwell Transferred to Minimum-Security Prison Amid Ongoing DOJ Discussions
U.S. Tariffs Surge to Highest Levels in Nearly a Century Under Second Trump Term
Matt Taibbi Slams Media for Role in Russiagate Narrative
Pilots Call for Mental Health Support Without Stigma
All Five Trapped Miners Found Dead After El Teniente Mine Collapse
Ong Beng Seng Pleads Guilty in Corruption Case Linked to Former Singapore Transport Minister
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
Italy Fines Shein One Million Euros for Misleading Sustainability Claims
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
Declassified Annex Links Soros‑Affiliated Officials and Clinton Campaign to ‘Russiagate’ Narrative
UK's Online Safety Law: A Front for Censorship
Nationwide Protests Erupt in Brazil Demanding Presidential Resignation
Parents Abandon Child at Barcelona Airport Over Passport Issue
Mystery Surrounds Death of Brazilian Woman with iPhones Glued to Her Body
Bus Driver Discovers Toddler Hidden in Suitcase in New Zealand
Switzerland Celebrates 734 Years of Independence Amid Global Changes
U.S. Opens Official Investigation into Former Trump Prosecutor Jack Smith
Leaked audio of Canada's new PM Mark Carney admitting the truth about the Net Zero agenda: "We're gonna make a lot of money off of this."
China Enforces Comprehensive Ban on Cryptocurrency Activities
Absolutely 100% Realistic EVO Series Doll by EXDOLL (Chinese Company) used mainly for carnal purposes
World Economic Forum founder Klaus Schwab: "In this new world, we must accept... total transparency. You have to get used to it. You have to behave accordingly. But if you have nothing to hide, you shouldn't be afraid."
Meet Mufti Hamid Patel, head of Office for Standards in Education in Pakistan
George Soros tells the World Economic Forum: "President Trump is a con man and the ultimate narcissist, who wants the world to revolve around him."
Hamas are STARVING the hostages.
Decline in Tourism in Majorca Amidst Ongoing Anti-Tourism Protests
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
Poland Begins Excavation at Dziemiany After New Clue to World War II‑Era Nazi Treasure
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Threatens Canada with Tariffs Over Palestinian State Recognition
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Trump Sues Murdoch in “Heavyweight Bout”: Lawsuit Over Alleged Epstein Letter Sets Stage for Courtroom Showdown
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
Trump Administration Finalizes Broad Tariff Increases on Global Trade Partners
J.K. Rowling Limits Public Engagements Citing Safety Fears
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Procter & Gamble to Raise U.S. Prices to Offset One‑Billion‑Dollar Tariff Cost
House Republicans Move to Defund OECD Over Global Tax Dispute
Botswana Seeks Controlling Stake in De Beers as Anglo American Prepares Exit
Trump Administration Proposes Repeal of Obama‑Era Endangerment Finding, Dismantling Regulatory Basis for CO₂ Emissions Limits
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
×