Regulatory Alerts2023-03-01
Anti-Money Laundering (Amendment) Regulations, 2023
The Cabinet of the Virgin Islands issued these regulations to amend the Anti-Money Laundering Regulations of the Revised Edition 2020 under the Proceeds of Criminal Conduct Act. The amendments revise definitions of control and relevant business, establish specific monetary thresholds for wire transfers, and mandate notification to the Agency. Additionally, the regulations update compliance requirements by substituting the text regarding relevant persons' internal control systems and procedures.
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