The British Virgin Islands Financial Services Commission has issued guidance on terrorist financing red flags to support stronger compliance by financial institutions and designated non-financial businesses and professions under the Virgin Islands’ anti-money laundering, countering the financing of terrorism, and countering proliferation financing framework. The Terrorist Financing Red Flags Guidance builds on prior AML/CFT resources and draws on findings from the Virgin Islands 2025 Terrorist Financing Risk Assessment, which identified areas of potential exposure to terrorist financing risks. It sets out practical indicators covering obscure beneficial ownership, misuse of British Virgin Islands legal persons and legal arrangements, inadequate oversight of non-profit organisations, attempts to circumvent targeted financial sanctions, suspicious use of cash, use of informal or alternative money transfer systems, misuse of virtual assets and virtual asset service providers, and unusual or inconsistent customer behaviour and transaction patterns. It also highlights measures to enhance detection and reporting, including strengthened due diligence, sanctions screening, monitoring, training, and record-keeping.
British Virgin Islands Financial Services Commission 2025-11-05
British Virgin Islands Financial Services Commission issues guidance on terrorist financing red flags for supervised entities
The British Virgin Islands Financial Services Commission has issued guidance on terrorist financing red flags to enhance compliance with anti-money laundering and counter-terrorism financing frameworks. The guidance, based on the 2025 Terrorist Financing Risk Assessment, outlines indicators such as obscure beneficial ownership and misuse of legal arrangements, and recommends measures like strengthened due diligence and sanctions screening.