Industry Circular 2 of 2024 - Filing of AML Returns

INDUSTRY CIRCULAR

AML RETURNS DUE 31 MARCH 2024

The BVI Financial Services Commission (the Commission) wishes to remind all regulated persons 

(i) holding a licence issued pursuant to:
• Section 10 (1) of the Banks and Trust Companies Act, 1990;
• Section 4 (3) of the Company Management Act, 1990;
• Section 6 (2) of the Securities and Investment Business Act, 2010;
• Section 8 (2) of the Insurance Act, 2008;
• Section 476 of the Insolvency Act, 2003;
• Section 9 (2) of the Financing and Money Services, 2010; 

(ii) holding a licence as an insurance manager or insurance intermediary pursuant to section 40 (2) of the Insurance Act, 2008;  

(iii) approved as: 
(a) a virtual asset services provider pursuant to section 7(1) of the Virtual Assets Service Providers Act, 2022; or
(b) an approved investment manager pursuant to regulation 7 (1) of the Investment Business (Approved Managers) Regulations, 2012

that AML Returns relating to the 2023 reporting period must be submitted to the Commission by 31 March 2024 as required by the Financial Services (Prudential and Statistical Returns) Order, 2009 (the Order).  Returns filed after 31 March will be subject to penalties in accordance with the Order.
The Commission also wishes to remind regulated persons that manual filings of AML Returns will no longer be accepted.  All AML Returns must be filed online using the VIRRGIN Returns AML/CFT Returns Portal, which may be accessed HERE.  

Queries related to this Circular should be directed to [email protected]