News
VI defends financial services @ UK Economic Crime Symposium
LONDON, United Kingdom- The Virgin Islands (VI) was represented at the 42nd Cambridge International Symposium on Economic Crime held from August 31 to September 7, 2025, at Jesus College, University of Cambridge, in the United Kingdom, by Special Envoy Mr E. Benito Wheatley.
VI’s trailblazer, pioneer, nation builder & visionary Robert A. Mathavious passes
MIAMI, Florida, USA- The Virgin Islands has been plunged into mourning after the passing this morning, Sunday, September 14, 2025, of Dr Robert A. Mathavious, OBE.
UK 'has acknowledged legitimate interest access is the way to go'- VI Premier
ROAD TOWN, Tortola, VI- In what has been deemed as a major win for the Virgin Islands' financial services industry, Premier and Minister of Finance Dr the Hon Natalio D. Wheatley (R7) has said legitimate interest access is the way to go when it comes to beneficial financial services ownership information and that the United Kingdom (UK) has now acknowledged this.
'Investment in our people is critical'- Hon Lorna G. Smith OBE
NECKER ISLAND, VI- "The BVI has developed into a financial hub that offers tested, responsive regulatory frameworks, access to financial infrastructure, and experienced service providers with the technical depth and sector fluency fintech demands."
Skelton-Cline hopeful investors would resurrect Bank of Asia (BVI) Ltd
BAUGHERS BAY, Tortola, VI- “The country at the end of the day cannot allow for the failure of any banks….That’s just the nature and the sensitivity surrounding the jurisdiction, the major of our two pillars, so we simply can’t afford that,” Commentator and clergyman Claude O. Skelton-Cline said, as he expressed hope that the Bank of Asia (BVI) Limited can actually be saved.
2 years normal timeline for FATF grey list removal- Hon Lorna G. Smith
ROAD TOWN, Tortola, VI- Junior Minister for Financial Services, Trade and Economic Development, Hon Lorna G. Smith (AL), has said the targeted two-year timeline to be removed from the Financial Action Task Force’s (FATF) grey list is normal.
Be ‘open & transparent’ about FATF grey listing- Hon Marlon A. Penn
BAUGHERS BAY, Tortola, VI- Opposition Member Hon Marlon A. Penn (R8) has called on the government to be more transparent about the grey listing of the Virgin Islands (BVI) by the Financial Action Task Force (FATF).
VI strengthens counter-terrorist financing measures with updated risk assessment
ROAD TOWN, Tortola, VI- The Government of the Virgin Islands on Friday, April 25, 2025, published its Terrorist Financing Risk Assessment 2025, reflecting the Territory’s continued efforts to safeguard the integrity of its financial system, and its commitment to evolving international standards in counter-terrorist financing.
UPDATE: Hon Smith will be Minister of State for Financial Services & Economic Dev’t- Premier
ROAD TOWN, Tortola, VI- As first and accurately reported by our News Centre today, March 11, 2025, Opposition Member and Territorial At Large Representative Hon Lorna G. Smith, OBE has returned to the government of Premier and Minister of Finance Dr the Hon Natalio D. Wheatley (R7).
Skelton-Cline warns of ‘undeclared war’ on VI'S financial services sector
BAUGHER'S BAY, Tortola, VI— Commentator Claude O. Skelton-Cline has issued a stark warning over what he perceives as the mounting global pressures on the Virgin Islands’ financial services sector, describing the situation as an "undeclared war" that could severely impact the Territory’s economy.
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