Premier Dr. the Honourable Natalio D. Wheatley (R7) has announced that the Revised National Strategic Action Plan demonstrates the Virgin Islands' commitment to effectively fighting financial crimes. Photo: GIS/File

This statement coincides with the Government of the Virgin Islands publishing its Revised National Strategic Action Plan (the Revised Action Plan) to enhance the implementation of the Territory’s National Anti-Money Laundering, Countering the Financing of Terrorism, and Countering Proliferation Financing (AML/CFT/CPF) Strategy for 2024–2026.Internet Source

This statement coincides with the Government of the Virgin Islands publishing its Revised National Strategic Action Plan (the Revised Action Plan) to enhance the implementation of the Territory’s National Anti-Money Laundering, Countering the Financing of Terrorism, and Countering Proliferation Financing (AML/CFT/CPF) Strategy for 2024–2026.

Seriousness of preventing financial crime 

Premier Wheatley further stated, “This Revised Action Plan reflects the seriousness with which the Virgin Islands approaches its responsibility to prevent financial crime. It clearly signals our intent to implement risk-based reforms in a timely and coordinated manner, ensuring our legal and institutional frameworks align with the highest global standards while upholding our reputation as a trusted international financial center.”

Significant progress has been made since the initial publication of the Action Plan, with several actions completed and others refined, along with additional initiatives underway.

Revised National Strategic Action Plan

According to a press release, the National Strategic Action Plan, which was agreed upon on 25th April 2025, has been actively monitored and reviewed by NAMLCC. Approved by NAMLCC on 30th October 2025, the Revised Action Plan reflects the Government’s ongoing commitment to ensuring that remaining deliverables are implemented transparently, based on risk and in a coordinated manner by law enforcement agencies, competent authorities, and key stakeholders throughout the remainder of the strategic period.

The Revised Action Plan is designed to strengthen delivery in the following critical areas:

• Legislative reform and enforcement
• Beneficial ownership transparency
• Risk-based supervision of financial and non-financial businesses
• Money laundering investigations and asset recovery
• Proportional and dissuasive sanction powers
• Enhanced intelligence gathering and analysis
• International cooperation and information exchange
• Public outreach and private sector engagement

Moving forward, NAMLCC will continue to monitor the Revised Action Plan actively, with regular reporting from lead and partner agencies. This Action Plan remains a dynamic document and is subject to further refinements, ensuring that the Virgin Islands can respond swiftly to emerging threats and changes in international standards, thereby protecting the integrity of the Territory’s financial system.`