Aligned with the Financial Action Task Force’s Recommendation 17, the guidance details measures for FIs and DNFBPs to verify ownership and control of introduced clients and assess the reliability of third-party introducers. It also covers steps to terminate risky introducer relationships and highlights best practices for minimising exposure to financial crime.

The Managing Director of the BVI FSC highlighted that the guidance emphasises the importance of compliance, urging entities to implement strong internal policies. The Director of the BVI FIA reaffirmed the territory's commitment to preserving a secure and reputable business environment by preventing misuse of its financial systems.

For further details, the press release can be found here and the full guidance document here.