UK advocacy group pleased BVI is grey listed
UK advocacy group Transparency International UK has welcomed the announcement that the British Virgin Islands (BVI) has been grey-listed by the Financial Action Task Force (FATF).
The grey list designation means the territory is still working to address serious deficiencies in its financial services industry. Transparency International UK said it is pleased that the FATF has identified the BVI as a jurisdiction requiring assistance and close monitoring due to strategic money laundering deficiencies.
Although the BVI’s financial services industry is managed locally, international bodies still classify the territory under the United Kingdom.
Transparency International UK pointed out that the BVI’s grey-list status means British banks, lawyers, and other regulated businesses must undertake additional checks on transactions involving BVI-registered companies.
“Corporate secrecy provided by the BVI’s financial services sectors has long provided cover for high-level corruption, money laundering and sanctions evasion,” a statement from the advocacy group said.
The group added: “Previous Transparency International UK research found that more than 1,100 companies from the BVI had been used in 213 corruption and money laundering cases globally, amounting to billions of pounds worth of economic damage.”
It also stated that over 90% of suspect funds invested into the UK via an Overseas Territory went through the BVI, representing approximately £5.5 billion in value.
“This figure is likely the tip of the iceberg, with BVI companies featuring regularly in economic crime investigations by law enforcement agencies and journalists,” Transparency International UK said.
The UK has been pushing for its Overseas Territories, including the BVI, to implement publicly accessible registers of beneficial ownership (PARBOs). These registers aim to reveal the true individuals behind companies—a move anti-corruption advocates argue is essential to curbing money laundering, tax evasion, and other forms of financial crime.
BVI leaders have resisted the move, which an international court previously deemed unlawful. Still, the UK maintains that these registers are critical in the global fight against financial crime.
As recently as May this year, UK Members of Parliament (MPs) criticized the BVI for failing to meet a deadline to establish the framework, calling the territory’s efforts so far “shameful.”
In the meantime, BVI leaders maintain that the territory’s financial services industry remains one of the best in the world and continues to work toward establishing the highest global standards.
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An international group that still snoops into Black run countries political and economic business is an international arm of enslavers and colonialist predators, which is still seeking full control and hegemony of a free people and their own resources and institutions.
Sadly and eventually, they will concoct a lie, as their history suggest, to invade, take over, and like dinosaurs feed on all that is good and resources they did not create nor built, while bestowing upon themselves exorbitant privileges and oppressing the local others. The perpetrators of bad and immoral history still rules, unfortunately.
Meanwhile, many on both sides are opposed to the VI seeking independence. Though their views are respected, there are many forms of independence a country can employ that will relinquish its colonial subjugated ties. Yet, what kind of man is he that choses to allow others to rule his house? Men were born to be free!!
What kind of man is he that acquiesces to the orders of others, refuses not to think for himself or steer his own ship? What kind of man is he that fails to protect his country, family and children from the whims and hostility of others not his own?
How soon will his country become another Iraq, Gaza, Syria, Lebanon and Iran? one decade; one hundred years from now or less?
What kind of man is he that is afraid of a future where he is his only master? What kind of man is he that lacks optimism for his future and; what kind of man is he that refuses to let go of his genetically reprogrammed existence, where he thinks he cannot live nor exist without being ruled?
What kind of man prefers being a mental slave, enjoys honoring a foreign political entity and human as his master and caretaker. And, what kind of man is he that enjoys partaking in ceremonies honoring an over-seas overseer, land lord and ruler, on his land that his ancestors toiled on for centuries, and has not received a pence or penny for to date?
What kind of man would rather and looks forward to paying respect to a nation and political system that refuses to pay him reparations for the riches his ancestors created from his ancestors enslavement and oppression, while he still exist one pay check away from starvation and slavery? What kind of man is he?
What kind of man that is comfortable with a political system where neither him nor his off spring will never ascend to governorship of his own country for as long as his country’s political status remain firmly in the hands of colonialist?
What kind of man is he that accepts take over and control of his most critical foundational assets and institutions, Governance, Economy, law and Order, Customs and Immigration and land resources?
That man is not only a slave, but also a fool. He is a slave in mind, soul and spirit!! And his master knows this. He is a fool because he thinks he is not good enough to rule himself. He believes he is only good enough servants, carriers of wood, hewers of water and raisers of a colonial flag.
Er. no.
They are the people that are trying to stop people that smuggle drugs, people (TO ENSLAVE THEM), laundering of money earned from modern SLAVERY, drugs or financial crimes. They are trying to stop this type of business as it is not good buisiness.
They are fighting slavery and other illegal trades and you are wanting to support that by hiding money for them in the institutions of the VI.
Why do you want and support VI to be any part of todays Slave trade or any other trade that need the ill gotten gains to be hidden behind the structures of the VI.
Independent or not that is wrong.
You are just blinded by your xenophobic hatred of UK. You want a new type of Colonial run by black people, in which slavery can continue, corruption can continue and you want to be a part of that.
It may be you and you mind that are enslaved. The current ways of the VI are not good ways and the VI is not heading in a good direction unless you are well connected to the political elite who will have you all working for them like the planters in their new style dictatorship where all is hidden by their SECRETS.
The explanation of course is you are part of the elite and hope to gain from it.
What kind of person is it that wants to be a part of and support illegal activities and SECRET society.
VI is already that and if it was independent now it would be much much worse.
And let’s us hope that one day women will be emancipated also from men like you.
What kind of man is it that wants a world where men are born free and women have no place.
Your responsesare childish almost iept, and personal. Why attack someone who has not offended you? Your intellectual skills and knowledge are woefully lacking. Go back to school.
Your contribution is that I should go to school? Nothing relevant to the topic??
No place for women in your world either we must suppose. Supporting the hidden financial services that hides the criminals and their dirty money also? Is that your contribution? Or just telling me I should go to school? That is it?
I am not sure if you are the person who wrote the initial comment under the name “What kind of Man?”. However, I have to laugh at the phrase “like dinosaurs feed on all that is good and resources they did not create nor built”. Um, why do you think dinosaurs feed on all that is good? Do you mean rats? It is definitely a very strange simile and frankly shows ‘intellectual skills and knowledge which are lacking’. May I suggest that it should be you who needs to ‘go back to school’? Or at least please avoid argumentum ad hominem. Only weak minds attack the person and not the argument
What an uniformed clueless pretender Bz be we eye he!
Reasonable minds change and adjust their views when presented with facts, better or new information.
Indoctrinated people disregard and despise all new information. that questions and or exposes the frailities of their knowledge and beliefs.
The way the world turns.
You lack knowledge, what a joke you are to think the BVI would prosper as an independent territory without the UK’s backing and the US granted use of the American dollar. You spew your uneducated nonsense in a manner to spread a false narrative. Let’s bring the race card in right, let’s tell the public that all the crime and money laundering in the BVI has not caused the UK to keep a a closer eye on it’s territories but it’s because of the black run government. What has oppressed you, how are you oppressed. What has kept you from achieving your goals of higher education or financial stability, YOURSELF not someone of the opposite race.
Why, instead of accepting the fact that the BVI has gone down a path of self destruction you are quick to pull the race card. Talking this black white nonsense. What in Tortola can a white man do that a black man can not. Stop the madness talking about independence ,the BVI could never ever flourish being an independent territory. They need the UK backing you need the US dollar. What would you do without the UK backing or the US dollar? After Irma the BVI was quick to call the UK for help right so quick to cry and plead and tell the UK they did not come fast enough .Nonsense, come down from your high horse and get a dose of reality.
Ausar, IS, not surprised!
I wundar, if, the territory was a ” hand-to-mouth”, back-water, type of society, would those kinds of groups, even give a damn, as to, the living conditions, of our people?
MUCH LESS, “economical”, operations?
You see, these types of groups, are the real oppressors, of Black people globally.
I wundar, do they “care”, about the Black populace living within the Kingdom?
Ah betcha, these people, are the same ones, that drive past the ghettos of the Kingdom, without, a care as to, the well being of the undeserved, and underrepresented!
I hope, not one Belonger, in this territory, is selling these people, any kind of property!
KEEP THESE PEOPLE NOMADIC- moving on, UP AND OUT, of our country!
Too many here are restricted in the false narrative about white Britain wanting to enslave black BVI. It’s so ingrained, so many fail to grasp what’s going on. Of course, it’s been useful for certain people to perpetuate the silliness to cover their misdeeds and rob the territory at the expense of our infrastructure, services and opportunities.
most Brits have no idea the VI even exists. Those who do find out, often through steaming bovine excreted quotes by the political left, gain a false impression about what our business is all about as we are no good at putting forth coordinated responses. If you think it’s about colour, Obama also espoused these false and hypocritical narratives against the Caribbean financial services centres to curry favour.
TI has no credibility to anyone that spends a moment looking into their research. Much like TJN, they are hell bent on the type of extreme socialism that is ruining so many countries such as in LatAm. They hate the UK, USA, Switzerland, Singapore, HK etc etc. as well.
People of the VI and other OTs, of all ethnicity and birthplace, should be united against that activist organisation and every trick it tries. The EU and OECD as well to name just a couple of others. We need a coordinated voice that is well articulated and in the right platforms. The division in the BVI should have blown away with the winds of Irmaria. Belanger’s, Caribbean, Filipino, Brits and all sorts of other nations scrambled to save our industries and rebuild but we are losing the opportunities that should have flowed
all who fear and deny truths and show favor for continued continued falsehoods and colonialism and its privilege do note: a thumbs down does not illustrate sincere humanity, nor will they stop the forces of time and revolutions.
Every man on earth and on this territory were born to be free, and so it will be.
And TooToo. What of the women in this manly free Territory of yours. What sort of freedom for women does your sincere manity envision in the new style Colonialism that has descended on the VI from within.
restricts searches at the BVI Company Registry for the names of beneficial owners of each BVI company. Time to remove this restriction and allow any person to search a BVI company.
With the stroke of the pen in the morning the UK and the COL could outlaw BVI business companies and prevent them from making deposits. Amazing this has never happened or is it?
Lol so the only reason we got off the hook barely is cuz we under UK
Well Aya go independent and so how our financial services hold up
Lmfao 3rd pillar going get strong and shoot through the roof