The Financial Investigation Agency of the British Virgin Islands is pleased to announce the recent signing of Memoranda of Understandings with two of its counterparts. One with the Financial Intelligence Unit of the Commonwealth of the Bahamas and the other with the Financial Intelligence Unit of Guernsey. The Agreements aim to strengthen cooperation in the exchange of financial intelligence and information related to money laundering, terrorism financing, and proliferation financing.
These significant agreements underscore the commitment of these jurisdictions to combat financial crimes and enhance the integrity of their financial systems. By facilitating the exchange of critical information and intelligence, the FIA BVI, FIU Guernsey and FIU Bahamas aim to improve the detection, prevention, and investigation of financial crimes, including those that pose a threat to national and international security.
The Agreements align with the principles set out by the Egmont Group, particularly the "Charter" and the "Principles for Information Exchange between Financial Intelligence Units," which provide a framework for effective and secure information sharing among Financial Intelligence Units (FIUs) worldwide.
Key aspects of the MoU include Information Exchange, Collaboration and Capacity Building, to name a few.
Director of the FIA BVI, Errol George stated, " The signing of these MoU marks another milestone in our efforts to combat financial crimes and reinforces our commitment to international cooperation. By working closely with our counterparts in Guernsey and The Bahamas, we can more effectively address the threats posed by money laundering, terrorism financing, and proliferation financing to ensure a robust and coordinated response to financial crime."
The signing of these MoU demonstrates the shared dedication of the British Virgin Islands, Guernsey and The Bahamas to safeguard their financial systems and contributing to global efforts to combat financial crime as the authorities look forward to a productive and impactful partnerships.
About the Financial Intelligence Agency, British Virgin Islands: The FIA is one of the key Competent Authorities in the Territory of the Virgin Islands with responsibility for the prevention and detection of financial crime, including money laundering, terrorist financing and proliferation financing.
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For more information:
Contact: Temulji Hughes
Financial Investigation Agency
Telephone: (284)-852-3200 Email:THughes@fiabvi.vg