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Industry Circular 22 of 2026 - FIA Publishes Terrorist Financing Typology and Virtual Asset Strategic Analysis Reports
FIA Publishes Terrorist Financing Typology and Virtual Asset Strategic Analysis Reports
The BVI Financial Services Commission is encouraging its licensees to review the following recent publications issued by the BVI Financial Investigation Agency (FIA):
- 2026 Terrorist Financing (TF) Typology Report
- 2025 Virtual Assets Strategic Analysis Report.
The 2026 Terrorist Financing Typology Report provides insight into current terrorist financing typologies using virtual assets. It also highlights common indicators and red flags associated with suspicious virtual asset activity, including the rapid movement of funds, the use of intermediary wallets and transactions involving high-risk wallets. The report stresses the importance of robust customer due diligence, transaction monitoring and high-quality suspicious activity reporting.
The 2025 Virtual Assets Strategic Analysis Report examines the virtual asset landscape in the Virgin Islands and analyses money laundering and terrorist financing trends and typologies identified from Virtual Asset-related SARs filed by VI Exchanges. The report also highlights emerging typologies, including layering through virtual assets, cross-border transfers to evade sanctions and the use of unhosted wallets, while providing recommendations to strengthen AML/CFT/CPF controls and mitigate risks within the virtual asset sector.
The Commission encourages all licensees, particularly Virtual Asset Service Providers and other entities exposed to virtual asset-related risk, to review both reports and consider how the findings can be incorporated into their AML/CFT/CFT frameworks. This includes enhancing institutional risk assessments, customer due diligence measures, sanctions screening processes and the identification and reporting of suspicious activity.
The reports can be accessed on the FSC website here:
Both reports are also available on the FIA’s website.
