Financial Investigation Agency (FIA)
The BVI's financial intelligence unit. It receives, analyses, and disseminates suspicious activity reports to law enforcement and competent authorities.
Americas · Country coverage
AML/CTF Compliance in the British Virgin Islands
The British Virgin Islands regulate AML/CTF through the Financial Investigation Agency under the Proceeds of Criminal Conduct Act. See the obligations and how MemberCheck supports them.
Last updated
Screening coverage for the British Virgin Islands
- Sanctions & PEP screening
- Adverse media checks
- Customer identity verification
- Jurisdiction risk checks
- Ongoing monitoring
Key facts
AML supervisor / FIUFinancial Investigation Agency (FIA)
FATF statusCFATF member; under FATF increased monitoring (grey list) since June 2025
Primary legislationProceeds of Criminal Conduct Act; Anti-Money Laundering Regulations
Overview
AML/CTF compliance in the British Virgin Islands.
The British Virgin Islands regulate money laundering and terrorist financing through the Proceeds of Criminal Conduct Act and the Anti-Money Laundering Regulations, supported by the Financial Investigation Agency, which receives and analyses suspicious activity reports.
Regulated entities, including corporate service providers, must apply customer due diligence, identify beneficial owners, monitor relationships, and report suspicious activity to the FIA, alongside supervision from the BVI Financial Services Commission. Supervisors expect a designated compliance officer, sound internal controls, and staff training. In June 2025 the British Virgin Islands were added to the FATF list of jurisdictions under increased monitoring (the grey list) and remain on it, which heightens counterparty scrutiny and makes robust screening and due diligence especially important.
MemberCheck helps teams meet these obligations by screening customers and entities against global sanctions, PEP, and adverse-media data, verifying identities, and monitoring risk continuously, with a clear audit trail behind every decision.
Regulation
All solutions →Key laws and regulators.
Proceeds of Criminal Conduct Act and Anti-Money Laundering Regulations
These form the core of the BVI's AML framework, setting customer due diligence, recordkeeping, and reporting obligations for financial institutions and corporate service providers.
BVI Financial Services Commission
The FSC supervises banks, investment funds, and corporate service providers for AML/CTF compliance, working alongside the FIA.
CFATF membership and FATF monitoring
The British Virgin Islands are a member of the Caribbean Financial Action Task Force, a FATF-style regional body, and align their regime with the FATF 40 Recommendations through that membership. In June 2025 the jurisdiction was added to the FATF list of jurisdictions under increased monitoring (the grey list) and remains on it, having committed to an action plan to strengthen its AML/CFT effectiveness.
Obligations
What regulated businesses must do.
- Apply customer due diligence and identity verification
- Identify beneficial owners of corporate customers
- Report suspicious activity to the FIA
- Conduct ongoing monitoring of customer relationships
- Maintain internal controls and a compliance officer
- Maintain records and provide staff training
1,000+
Global watchlists screened
<1s
Average screening response
24h
Watchlist refresh cycle
195
Countries covered
FAQ
Common questions.
Who supervises AML/CTF in the British Virgin Islands?
The Financial Investigation Agency (FIA) receives and analyses suspicious activity reports, while the BVI Financial Services Commission supervises banks, investment funds, and corporate service providers for AML/CTF compliance.
What is the main AML law in the British Virgin Islands?
The Proceeds of Criminal Conduct Act, together with the Anti-Money Laundering Regulations, sets the customer due diligence, recordkeeping, and reporting obligations for regulated entities.
Are the British Virgin Islands a member of FATF?
The British Virgin Islands are a member of CFATF, the FATF-style regional body for the Caribbean, and align their AML/CTF regime with the FATF 40 Recommendations through that membership. In June 2025 the jurisdiction was added to the FATF list of jurisdictions under increased monitoring (the grey list) and remains on it, having committed to an action plan to strengthen its AML/CFT effectiveness.
How does MemberCheck support AML compliance in the British Virgin Islands?
MemberCheck screens customers and entities against global sanctions, PEP, and adverse-media data, verifies identities, and monitors risk continuously, with an audit trail behind every decision.
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