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  4. BVI FSC issues reminder about AML returns filing obligations

BVI FSC issues reminder about AML returns filing obligations

27 Mar 2024
|

On 18 January 2024, the BVI Financial Services Commission, in accordance with regulatory requirements, published Circular 2 of 2024 to remind all regulated persons under various licencing categories of the upcoming deadline for Anti-Money Laundering Returns submission.

All licenced entities and approved providers must submit their AML Returns for the 2023 reporting period by 31 March 2024. Failure to meet this deadline will result in penalties.

Additionally, manual filings will no longer be accepted, and all submissions must be made online through the VIRRGIN Returns AML/CFT Returns Portal.

The Circular provides a list of affected entities and emphasises the importance of compliance with regulatory requirements and can be accessed here.

Authors
Aki Corsoni-Husain
Partner | Funds & Regulatory | London
Ayana Hull
Head of BVI Private Wealth and Regulatory | Private Wealth | British Virgin Islands
Mirza Manraj Harneys front portrait image on a grey background
Mirza Manraj
Counsel | Funds & Regulatory | Hong Kong
Kimberly Seagojo Harneys front portrait image on a grey background
Kimberly Seagojo
Senior Associate | Funds & Regulatory | British Virgin Islands