Guidance Notes on the Prevention of Money Laundering

The primary focus of these Guidance Notes is to guide persons and institutions in the financial sector in complying with the anti-money laundering requirements of the Proceeds of Criminal Conduct Act. The latter Acts deal only with the proceeds of criminal conduct which are defined in the Act to include the proceeds of all indictable offences other than drug trafficking offences. It provides, inter alia, for the reporting of suspicions as to the laundering of such proceeds to the Reporting Authority established under this Act. These Guidance Notes are intended to assist with dealing with proceeds of criminal conduct as so defined. They do not directly address the matter of the proceeds of drug trafficking offences, in respect of which the reporting regime is provided for under the Drug Trafficking Offences Act (where the definition of drug trafficking offences is set out) as amended by the Criminal Justice (International Cooperation) Act. Persons and institutions are expected to be aware of their responsibilities under the drugs trafficking legislation although these Guidance Notes may (so far as applicable,) provide some guidance in that area as well. 

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Contact Information

British Virgin Islands Financial Services Commission

Pasea Estate
P.O. Box 418
Road Town, Tortola, VG 1110
British Virgin Islands

Tel: 284-494-1324 or 284-494-4190 GMT – 4:00
Fax: 284-494-5016
Hours: Monday-Friday 8:30a.m. - 4:30p.m.