Proceeds of Criminal Conduct Act, 1997, as amended
Anti-Money Laundering Regulations 2008, as amended
Anti-Money Laundering and Terrorist Financing Code of Practice 2008, as amended
Non-Financial Business (Designation )Notice, 2008
This Public Notice is applicable to the following:
- Legal practitioners, notaries public or accountants undertaking relevant business, that is, the provision of services to clients, which involve transactions concerning any of the following activities-
- Buying and selling of real estate;
- Managing of client money, securities, or other assets;
- Management of bank, savings or securities accounts;
- Organization of contributions for the creation, operation or management of companies; and
- Creation, operation or management of legal persons or arrangements, or buying and selling of business entities.
- Real estate agents undertaking relevant business, that is, the business of acting as a real estate agent when engaged in a transaction for a client concerning the buying and selling of real estate.
- Persons engaged in the business of dealing in precious metals or precious stones when such transactions involve accepting a cash payment of $15,000 or more or the equivalent in any other currency.
- Persons engaged in the business of buying and selling boats, vehicles, jewellery or other high-valued goods such as furniture, machinery and art (relating to paintings and sculptures that are of intrinsic value) when such transactions involve accepting a cash payment of $15,000 or more or the equivalent in any other currency.
The above mentioned businesses and professions shall hereinafter be referred to as Designated Non-Financial Businesses and Professions ("DNFBPs").
The Anti-Money Laundering and Terrorist Financing Code of Practice 2008, as amended, applies to all DNFBPs. The Financial Investigation Agency (the"Agency") is responsible for the supervision and monitoring of DNFBPs in the British Virgin Islands (hereinafter referred to as the "Territory"), to ensure compliance with the relevant legislation.
The Agency is inviting all DNFBPs engaged in business within and/or operating from the Territory to notify the Agency of their operations.
Please contact the Agency's Supervision and Enforcement Unit on telephone number284-494-
1335 or via email at firstname.lastname@example.org by 30 June 2020. The Agency will then contact you with information on the next steps required.