The Commission has notified that one issue respondents have identified is that they can only complete the survey once, even if they are required to do so for multiple companies or companies in different sectors. The solution, in this case, is for persons to complete the survey for multiple entities with the use of a different computer for each entity.
2023 Money Laundering and Terrorist Financing Risk Assessments Survey
The Virgin Islands' National AML/CFT Strategy and Policy require the Territory to keep its understanding of money laundering (ML) and terrorist financing (TF) risks up to date. The Territory has sought to do this through continual assessment and updating of the Virgin Islands’ 2016 National Risk Assessment through individual ML and TF risk assessments carried out in 2020.
The National Anti-money Laundering Coordinating Council (“NAMLCC”) has now charged the Financial Services Commission ("the FSC") and the Financial Investigation Agency ("the FIA") with carrying out updates to these assessments. Therefore, the FSC and the FIA are seeking your support in gathering data to assist in identifying the relevant ML and TF risks that currently impact the Territory by completing a short online survey.
Who should complete: All financial services licensees, qualifying designated non-financial businesses and professionals and non-profit organisations:
When: Surveys should be completed by 30 December 2022
Why: Updating these assessments will allow the Virgin Islands to:
The FSC and the FIA thank you for your cooperation and look forward to receiving your submissions.