Gov’t hits back at UK claims over transparency delays
The government has rejected what it called “highly misleading” claims published in the UK Guardian, accusing the territory of failing to meet deadlines for financial transparency reforms.
Premier and Minister of Finance Dr Natalio Wheatley said in a statement on Wednesday that the BVI “strongly refutes the highly misleading portrayal of the territory in recent international press reports,” which suggests the government is undermining efforts to fight illicit finance.
The Guardian reported that the BVI had missed a key April deadline to publish plans for opening access to beneficial ownership data for those with a “legitimate interest,” part of a UK transparency initiative. The outlet also criticised the BVI for unveiling a cartoon mascot, Riley Right, before passing the relevant legislation.
Dr Wheatley defended the campaign as a legitimate tool to increase public awareness.
“Tackling such an issue requires engagement from all stakeholders. As is appropriate, we have undertaken a range of local initiatives, which include our new campaign featuring Riley Right, to educate the VI community on key issues such as money laundering and how to safeguard against it in a simplified and engaging way,” he stated.
The Premier said the campaign complements, not replaces, international obligations.
“To view this campaign in isolation is not only reductive — it fundamentally misrepresents the scale and seriousness of the reforms we have undertaken,” he said. “It neither replaces nor diminishes our international commitments. On the contrary, it reinforces them.”
Dr Wheatley said the BVI has already enacted legislative reforms and created new institutional frameworks, including a Sanctions Unit, in line with Financial Action Task Force (FATF) standards.
“Our substantial progress on beneficial ownership transparency demonstrates this commitment,” he added.
He said the government reaffirmed its pledge in 2024 to implement legitimate interest access and had extended a public consultation to ensure stakeholder input.
“We are now in the final stages of policy development. The resulting framework will be submitted to the UK government imminently and made public shortly thereafter,” Dr Wheatley said.
The Premier also pointed to the technical upgrades underway, including migrating beneficial ownership data to the government’s VIRRGIN corporate registry platform, which replaces the previous BOSS system.
“These actions underscore our unwavering commitment to transparency, good governance, and international cooperation,” he said.
Copyright 2025 BVI News, Media Expressions Limited. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.
S!0wW@nde just talking nonsense. Where is the serious initiative in response to the MERs and other reports on Financial Services. This must be given priority then focus on marketing campaigns with the parrot. He serious or what?
The Uk is planting the seed. The Uk is very calculated.
That is all I have to say.
We’re still hiding as much as we can get away with. Pay per view no notes farcical. Corruption is not a grey area we’ll be back on the grey list , legislation is useless unless enforced.
You been fighting open registers from the start.
Why you not now claiming it as a success that you slowed it down.
You wanted it not to happen at all.
You succeeded.
They reporting your success.
Your success is not a good thing but it does fit your approach of hiding everything.
When we getting to see the KPMG airport reports so we can decide how we should proceed.
P487 you are anti transparency.
We miss the deadline or we did not miss the deadline.
Seems to be the important thing.
Until the “Unearned Income” act is passed there will be zero transparency in the government and our elected officials.
Show how you can live in multi-million dollar homes on Government pay!
UK Guardian = National Enquirer.
It’s funny how a publication recently rated the BVI as a #1 Tourist Destination and that story didn’t get any traction, but the UK Guardian creates a fluff piece with half of a story featuring a cartoon and everyone is up in arms. I really do not blame the UK and other interests for taking us for fools as we do a damn good job playing the role!
So BVI is a model of financial probity, is it? I think not.
Your point?
You agreeing the Guardian is correct?
But is OK to do if others do it?
So if they killing people it OK we killing people is that how you thinking. Mum. We in trouble if that how people thinking here. They bad means we can bad. Not good thinking but seems to sum up our HOA for last many years.
A bad habit is to throw the baby out with the bath water. So what if its guardian, it has millions of readers each week. Readers whose minds and hearts (in that order) must be won. The parrot without a serious initiative ain’t it