Financial Action Task Force update on British Virgin Islands

On 13 June 2025, the Financial Action Task Force placed the British Virgin Islands under increased monitoring as part of its ongoing efforts to help its members in strengthening their systems to combat money laundering, terrorist financing, and proliferation financing. FATF monitoring is part of a standard process for jurisdictions that are committed to strengthening their compliance frameworks, and listing is not permanent.

The listing reflects the BVI’s active engagement with the FATF and its commitment to enhance its regulatory and enforcement framework. The FATF commended the BVI for having made significant progress since the adoption of its Mutual Evaluation Report in November 2023.

The BVI Government has reaffirmed its commitment to implementing the necessary measures within the agreed timeframes. The BVI has consistently demonstrated its commitment to meeting its international obligations as a leading international financial centre, and remains committed to combatting financial crime in all its forms. Regular review and enhancement of its regulatory systems are integral to this commitment.

At this time, clients with BVI companies or structures do not need to do anything. Harneys Fiduciary is closely monitoring developments and will continue to provide updates as the situation evolves. We also continue to support the government and competent authorities in the BVI through our active participation with various industry bodies.

If you have any questions, please do not hesitate to reach out to your usual Harneys Fiduciary contact.