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British Virgin Islands Financial Investigation AgencyBritish Virgin Islands Financial Investigation Agency
  • Home
  • About Us
    • Our Vision
    • FIA Board
    • Vacancies
  • Financial Intelligence Unit
    • Functions of the FIU
    • Suspicious Activity Reports
      • Introduction to SARs
      • Preparing to File
      • How to file a SAR?
      • FAQ
    • Section 4 Notices
      • Legal Obligation
      • Enforcement
    • Documents and Forms
  • Supervised Entities
    • NPO
      • What is an NPO?
      • NPO Obligations
      • Designated Persons
      • Supervision by the Agency
      • Relevant Legislation
    • DNFBPs
      • What is a DNFBP?
      • DNFBP Obligations
      • Registration
      • Supervision by the Agency
      • Relevant Legislation
    • Examinations - What are they?
    • What is money laundering?
    • What is terrorist financing?
    • What is proliferation financing?
    • Documents and Forms
    • Videos and Webinars
  • International Sanctions
    • Amendments to the UK and Overseas Territories Sanctions Regime Post Brexit
    • About Sanctions
    • Required Action
    • British Overseas Territories Sanctions Orders in Force/Legislative Framework
    • Applicable UK Regulations/Legislative Framework Extended to the Virgin Islands
    • Targeted Financial Sanctions Consolidated List
    • Financial Sanctions Notices
    • UK Sanctions List
    • Sanctions by Regime
    • Guidance and Forms
    • Sanctions Guidance, Public Notices and Updates
    • Virgin Islands Consolidated List of Domestic Designated Persons
  • Media Centre
    • Public Notices
    • Advisories & Warnings
    • Press Releases
    • Videos
  • Library
    • Legislation
    • Publications
    • Annual Reports
    • Archives
    • Resources

Required Action

Home
  • International Sanctions
  • Required Action
  • Amendments to the UK and Overseas Territories Sanctions Regime Post Brexit
  • About Sanctions
  • Required Action
  • British Overseas Territories Sanctions Orders in Force/Legislative Framework
  • Applicable UK Regulations/Legislative Framework Extended to the Virgin Islands
  • Targeted Financial Sanctions Consolidated List
  • Financial Sanctions Notices
  • UK Sanctions List
  • Sanctions by Regime
  • Guidance and Forms
  • Sanctions Guidance, Public Notices and Updates
  • Virgin Islands Consolidated List of Domestic Designated Persons

What Action Should Be Taken?

  1. Once a designation is made, in order to comply with the Financial Sanctions regime, , all natural or legal persons, including relevant persons* and non-financial businesses* operating in or from within the Virgin Islands are required to:
    1. check whether you maintain any accounts or hold any funds or economic resources for the persons set out in the Annex to this Notice;
    2. freeze such accounts, and other funds or economic resources;
    3. refrain from dealing with the funds or assets or making them available (directly or indirectly) to such persons unless licensed by the Office of the Governor;
    4. report any findings to the Office of the Governor, together with any additional information that would facilitate compliance with the Regulation;
    5. provide any information concerning the frozen assets of designated persons that the Governor’s Office may request. Information reported to the Governor’s Office may be passed on to other regulatory authorities or law enforcement.
  2. Failure to comply with financial sanctions legislation or to seek to circumvent its provisions is a criminal offence.
  3. All enquiries, reports and license applications should be addressed to:

The Office of the Governor
Waterfront Drive
Road Town, Tortola VG1110
British Virgin Islands
[email protected]

* “relevant person” means a person carrying on relevant business as defined in the Anti-Money Laundering Regulations, 2008.

* “non-financial business” means a business designated under the Non-financial Business (Designation) Notice, 2008.

Partners

  • Government of the Virgin Islands
  • Financial Services Commission
  • Virgin Islands International Tax Authority
  • Egmont
  • CFATF
  • FATF

Contact Information

  • PO Box 4090, Road Town, Tortola VG1110, BRITISH VIRGIN ISLANDS
  • (284) 852-3200
  • [email protected]

Business Hours

Monday - Friday: 8:30a.m. - 4:30p

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