Regulatory AlertsAnti-Money Laundering and Terrorist Financing Code of Practice (Revised 2020)
The Financial Services Commission of the Virgin Islands issued this statutory instrument to establish mandatory anti-money laundering and counter-terrorist financing standards for regulated entities and professionals. The Code requires covered persons to implement robust internal control systems, conduct comprehensive customer due diligence, and maintain detailed records of transactions and identity verification. It further mandates specific employee training, outlines reporting obligations to the Financial Investigation Agency, and defines penalties for non-compliance with these regulatory measures.
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