Terrorist Financing is:

1. Using funds (whether those funds are derived from legal and or illegal means) for the purposes of sponsoring or facilitating terrorist activities; or
2. Acquiring, possessing, concealing, converting or transferring any funds that are intended to be provided or used for the purposes of terrorism (whether directly or indirectly).

More specifically, within BVI legislation:

“terrorist financing” means –

1. the provision or use of funds for the purposes of terrorism; or
2. the acquisition, possession, concealment, conversion or transfer of funds that are, directly or indirectly, intended to be provided or used for the purposes of terrorism;