Regulatory Alerts2022-08-29
Added · Updated
Anti-Money Laundering and Terrorist Financing (Amendment) Code of Practice, 2022
The Financial Services Commission of the Virgin Islands issued this statutory instrument to amend the 2020 Anti-Money Laundering and Terrorist Financing Code of Practice. The amendments introduce new definitions for beneficial ownership and politically exposed persons, expand the regulatory scope to include non-profit organizations and proliferation financing, and update reporting obligations. These changes align local regulations with international standards and enhance risk-based compliance requirements for regulated entities.