Industry Circular No. 3 of 2022 - Suspicious Transaction Reporting FAQs Now Available on BVI FSC’s Website

Suspicious Transaction Reporting FAQs Now Available on BVI FSC’s Website

The BVI Financial Investigation Agency (“the FIA”) has published the following documents which are now available on the British Virgin Islands Financial Services Commission’s (“the Commission”) website:

• Suspicious Transaction Reporting – Financial Institutions FAQs
• Suspicious Transaction Reporting – Additional FAQs
• Red Flags for Suspicious Transactions or Activities
• Suspicious Transaction Reporting Filing Process
• Suspicious Transactions - Potential Examples

These documents have been provided to assist licensees in identifying suspicious activities and understanding the obligations to report such activities and can be found here.

The Commission encourages all licensees to review the documents and continue to adhere to the Anti-Money Laundering Code of Practice by reporting any suspicious transactions or activities to the FIA.