Beautiful Virgin Islands

Wednesday, Sep 17, 2025

Reservations Linger Over Public Registers! Premier Says Kidnappers Could Access Info

Reservations Linger Over Public Registers! Premier Says Kidnappers Could Access Info

The Virgin Islands continues to express reservations over the push by the United Kingdom (UK) to have the Overseas Territories (OTs) implement public registers of beneficial owners for the financial services industry, citing among other things, kidnappers having access to information.
Essentially, the BVI's position remains unchanged despite the UK's deadline of 2023 and the commitment from other Overseas Territories to implement registers of beneficial owners that are accessible to the public.

Premier and Minister of Finance, Hon. Andrew Fahie wrote to the UK Government this month to make a case for alternative models that allow access to the various levels of data that would be contained in a register, which models contain built-in safeguards such as the use of warrants approved by the court based on the demonstration of probable cause to grant access to sensitive personal information.

“These pose significantly less risk to the financial services industry while satisfying the objectives of law enforcement to identify and prosecute terrorists, tax evaders and money launderers, while not disproportionately infringing on the rights of the innocent and law-abiding. It is the BVI’s submission that such models are worth exploring in the meantime,” the Premier said in a statement to the House of Assembly today, September 22.

The Premier stated that there is a legitimate ground for concern that, without appropriate checks and balances, publicly accessible registers could be abused by persons with ill intent, such as kidnappers.

The Premier said while it is a noble objective to seek the prosecution of terrorists, tax evaders and money launderers, the net that will be cast by the currently proposed model of publicly accessible registers, is disproportionate, since it can be used to breach the rights of the law-abiding and tax-paying individuals who are far greater in number than the targeted law-breakers. There needs to be prudence and balance in the systems, he said.

“The innocent could also be deprived of their safety and enjoyment of their legitimate property as they and their families could be exposed, through the publicly accessible registers, to their personal information being easily accessible by persons with ill intent such as kidnappers," the Premier stated.

He added, “The Government of the Virgin Islands is firm of the view that it must also be kept in mind that some of these innocent potential victims are children who are beneficiaries of trusts. Extreme care must also be taken to ensure that minors and other vulnerable categories of persons are not exposed to danger.”

Eight of the UK’s overseas territories have committed to introducing publicly accessible registers of company beneficial ownership within the next three years, but the UK has singled out the BVI as the only significant financial centre still to do so.

Baroness Sugg, Minister for the Overseas Territories and Sustainable Development, in July expressed, "We hope that the British Virgin Islands will also commit to publicly accessible registers of company beneficial ownership without delay.’

Sugg has indicated that in line with the Sanctions and Money Laundering Act 2018 the government will prepare a draft Order in Council before the end of 2020, which will be published.

Premier Fahie said the BVI will implement a publicly accessible register of beneficial ownership for companies, “in line with international standards and best practices as they develop globally,” with certain reservations at least, and as implemented by EU Member States, by 2023, in furtherance of the EU fifth Anti-Money Laundering Directive.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Hong Kong Industry Group Calls for HK$20 Billion Support Fund to Ease Property Market Stress
Joe Biden’s Post-Presidency Speaking Fees Face Weak Demand amid Corporate Reluctance
Charlie Kirk's murder will break the left's hateful cancel tactics
Kash Patel erupts at ‘buffoon’ Sen. Adam Schiff over Russiagate: ‘You are the biggest fraud’
Homeland Security says Emmy speech ‘fanning the flames of hatred’ after Einbinder’s ‘F— ICE’ remark
Charlie Kirk’s Alleged Assassin Tyler Robinson Faces Death Penalty as Charges Formally Announced
Actor, director, environmentalist Robert Redford dies at 89
The conservative right spreads westward: a huge achievement for 'Alternative for Germany' in local elections
JD Vance Says There Is “No Unity” with Those Who Celebrate Charlie Kirk’s Killing, and he is right!
Trump sues the 'New York Times' for an astronomical sum of 15 billion dollars
Florida Hospital Welcomes Its Largest-Ever Baby: Annan, Nearly Fourteen Pounds at Birth
U.S. and Britain Poised to Finalize Over $10 Billion in High-Tech, Nuclear and Defense Deals During Trump State Visit
China Finds Nvidia Violated Antitrust Laws in Mellanox Deal, Deepens Trade Tensions with US
US Air Force Begins Modifications on Qatar-Donated Jet Amid Plans to Use It as Air Force One
Pope Leo Warns of Societal Crisis Over Mega-CEO Pay, Citing Tesla’s Proposed Trillion-Dollar Package
Poland Green-Lights NATO Deployment in Response to Major Russian Drone Incursion
Elon Musk Retakes Lead as World’s Richest After Brief Ellison Surge
U.S. and China Agree on Framework to Shift TikTok to American Ownership
London Daily Podcast: London Massive Pro Democracy Rally, Musk Support, UK Economic Data and Premier League Results Mark Eventful Weekend
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Musk calls for new UK government at huge pro-democracy rally in London, but Britons have been brainwashed to obey instead of fighting for their human rights
Elon Musk responds to post calling for the murder of Erika Kirk, widow of Charlie Kirk: 'Either we fight back or they will kill us'
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
USA: Office Depot Employees Refused to Print Poster in Memory of Charlie Kirk – and Were Fired
Proposed U.S. Bill Would Allow Civil Suits Against Judges Who Release Repeat Violent Offenders
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
French Debt Downgrade Piles Pressure on Macron’s New Prime Minister
US and UK Near Tech, Nuclear and Whisky Deals Ahead of Trump Trip
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
Anesthesiologist Left Operation Mid-Surgery to Have Sex with Nurse
Tens of Thousands of Young Chinese Get Up Every Morning and Go to Work Where They Do Nothing
The New Life of Novak Djokovic
The German Owner of Politico Mathias Döpfner Eyes Further U.S. Media Expansion After Axel Springer Restructuring
Suspect Arrested: Utah Man in Custody for Charlie Kirk’s Fatal Shooting
In a politically motivated trial: Bolsonaro Sentenced to 27 Years for Plotting Coup After 2022 Defeat
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
ChatGPT CEO signals policy to alert authorities over suicidal youth after teen’s death
The British legal mafia hit back: Banksy mural of judge beating protester is scrubbed from London court
Surpassing Musk: Larry Ellison becomes the richest man in the world
Embarrassment for Starmer: He fired the ambassador photographed on Epstein’s 'pedophile island'
Manhunt after 'skilled sniper' shot Charlie Kirk. Footage: Suspect running on rooftop during panic
Effective Protest Results: Nepal’s Prime Minister Resigns as Youth-Led Unrest Shakes the Nation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
King Charles and Prince Harry Share First In-Person Moment in 19 Months
×