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British Virgin Islands Financial Investigation Agency
  • Home
  • About Us
    • Our Vision
    • FIA Board
    • Vacancies
  • Analysis & Investigation
    • Functions of the AIU
    • Suspicious Activity Reports
      • Introduction to SARs
      • Preparing to File
      • How to file a SAR?
      • FAQ
    • Section 4 Notices
      • Legal Obligation
      • Enforcement
    • Documents and Forms
  • Supervision & Enforcement
    • NPO
      • What is an NPO?
      • NPO Obligations
      • Designated Persons
      • Supervision by the Agency
      • Relevant Legislation
    • DNFBPs
      • What is a DNFBP?
      • DNFBP Obligations
      • Registration
      • Supervision by the Agency
      • Relevant Legislation
    • Examinations - What are they?
    • What is money laundering?
    • What is terrorist financing?
    • What is proliferation financing?
    • Documents and Forms
      • Guidance Documents
    • Videos and Webinars
  • International Sanctions
    • Amendments to the UK and Overseas Territories Sanctions Regime Post Brexit
    • About Sanctions
    • Required Action
    • British Overseas Territories Sanctions Orders in Force/Legislative Framework
    • Applicable UK Regulations/Legislative Framework Extended to the Virgin Islands
    • Targeted Financial Sanctions Consolidated List
    • Financial Sanctions Notices
    • Maritime Sanctions Notices
    • Trade Sanctions Notices
    • United Nations Security Council Consolidated List
    • United Nations Secretariat Updates
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    • Sanctions by Regime
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    • Sanctions Guidance, Public Notices and Updates
    • Virgin Islands Consolidated List of Domestic Designated Persons
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Required Action

Home
  • International Sanctions
  • Required Action
  • Amendments to the UK and Overseas Territories Sanctions Regime Post Brexit
  • About Sanctions
  • Required Action
  • British Overseas Territories Sanctions Orders in Force/Legislative Framework
  • Applicable UK Regulations/Legislative Framework Extended to the Virgin Islands
  • Targeted Financial Sanctions Consolidated List
  • Financial Sanctions Notices
  • Maritime Sanctions Notices
  • Trade Sanctions Notices
  • United Nations Security Council Consolidated List
  • United Nations Secretariat Updates
  • UK Sanctions List
  • Sanctions by Regime
  • Guidance and Forms
  • Sanctions Guidance, Public Notices and Updates
  • Virgin Islands Consolidated List of Domestic Designated Persons

What Action Should Be Taken?

  1. Once a designation is made, in order to comply with the Financial Sanctions regime, all natural or legal persons, including relevant persons* and non-financial businesses* operating in or from within the Virgin Islands are required to:
    1. check whether they maintain any accounts or hold any funds or economic resources for the person(s) set out in the Annex to the relevant Notice;
    2. freeze such accounts, and other funds or economic resources;
    3. refrain from dealing with the funds or assets or making them available (directly or indirectly) to such persons unless licensed by the Governor;
    4. report any findings to the Sanctions Unit*, together with any additional information that would facilitate compliance with the Regulations;
    5. provide any information concerning the frozen assets of designated persons that the Sanctions Unit may request. Information reported to the Sanctions Unit may be passed on to other regulatory authorities or law enforcement.
  2. Failure to comply with financial sanctions legislation or to seek to circumvent its provisions is a criminal offence.
  3. All enquiries, reports and license applications should be addressed to:

Virgin Islands Sanctions Unit
Attorney General Chambers
TTT Building, Wickhams Cay I
Road Town, Tortola
British Virgin Islands
[email protected]

* “relevant person” means a person carrying on relevant business as defined in the Anti-Money Laundering Regulations, 2008 (as amended).

* “non-financial business” means a business designated under the Non-financial Business (Designation) Notice, 2008.

Pursuant to the Sanctions Delegation and Authorisation Notice SI 2025 No. 22 issued by the Governor’s Office and published in the Virgin Islands Official Gazette on 20th February 2025, the Governor has delegated to the Attorney General, certain powers, including but not limited to the following:

    1. receiving applications for (and information relating to) the grant or variation of a director disqualification licence, a financial sanctions licence or a trade licence to be issued by the Governor (with the consent of the Secretary of State);
    2. receiving reports relating to reporting obligations;
    3. implementing, monitoring compliance with and the detection of sanctions by exercising powers to request information, inspecting records regarding General Trade Licenses and disclosing information;
    4. implementing and enforcing General Licenses subject to the approval of the Governor and consent of the Secretary of State; and
    5. coordinating the publication of Overseas Territories Sanctions Orders.

The Governor has also delegated to the Director of the Financial Investigation Agency, certain powers, including but not limited to the function of publishing lists of designated persons and designations by description (and keeping those lists up to date).

The Notice may be found here: SI No 49 of 2024 - Notice - Sanctions Delegation and Authorisation



Partners

  • Government of the Virgin Islands
  • Financial Services Commission
  • Virgin Islands International Tax Authority
  • Virgin Islands Deposit Insurance Corporation
  • Egmont
  • CFATF
  • FATF

Contact Information

  • PO Box 4090, Road Town, Tortola VG1110, BRITISH VIRGIN ISLANDS
  • (284) 852-3200
  • [email protected]

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Monday - Friday: 8:30a.m. - 4:30p

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