Regulatory Alerts2025-04-17
Proceeds of Criminal Conduct (Amendment) Act, 2025
The Legislature of the Virgin Islands enacted this Act to amend the Proceeds of Criminal Conduct Act, Revised Edition 2020, in response to deficiencies identified in the CFATF Fourth Round Mutual Evaluation Report. The legislation significantly increases maximum penalties for various offenses, extending imprisonment terms to up to 20 years and raising fines to $1,500,000. It also introduces new investigative powers, including production orders, search and seizure warrants, and disclosure orders, to enhance compliance with international money laundering and terrorist financing standards.
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