The British Virgin Islands Financial Services Commission issued an industry circular announcing the release of three educational videos on proliferation financing (PF) and how supervised entities can mitigate PF risk. The videos explain PF, provide examples of typologies, and set out supervised entities’ responsibilities for mitigating PF risk, with an emphasis on ongoing monitoring, sanctions screening, and appropriate reporting. The Commission encouraged licensees to use the materials to strengthen understanding of PF-related obligations, promote staff awareness, and remain vigilant to evolving money laundering, terrorist financing, and PF threats through diligent application of AML/CFT/CPF measures. The videos are available on the Commission’s website, alongside other AML/CFT information.
British Virgin Islands Financial Services Commission 2025-02-21
British Virgin Islands Financial Services Commission releases three videos on proliferation financing risk and compliance
The British Virgin Islands Financial Services Commission released three educational videos on proliferation financing (PF) to aid supervised entities in mitigating PF risk. The videos cover PF typologies, responsibilities for risk mitigation, and emphasize ongoing monitoring, sanctions screening, and reporting. Licensees are encouraged to use these resources to enhance understanding and vigilance against money laundering, terrorist financing, and PF.