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VI's goal is to be taken off Grey List 'within two years'- Ayana I. Glasgow

- said private sector collaboration is essential to address VI’s Grey List status
In May 2025, it was reported that the Virgin Islands (VI) could be placed on the grey list. The territory was officially added to the list on June 13, 2025, due to concerns regarding its Anti-Money Laundering (AML) framework, particularly the identification of corporate beneficial owners. Photo: VINO
The Executive Director of International Business Regulations Ayana I. Glasgow, has announced that efforts are underway to develop and implement a national action plan aimed at addressing the territory's status on the FATF grey list. Photo: Talking Points
The Executive Director of International Business Regulations Ayana I. Glasgow, has announced that efforts are underway to develop and implement a national action plan aimed at addressing the territory's status on the FATF grey list. Photo: Talking Points
During a segment on the Talking Points program on ZBVI 780 AM on Monday, September 15, 2025, Glasgow emphasised the importance of collaboration between the public and private sectors and the government in formulating this action plan. Photo Facebook
During a segment on the Talking Points program on ZBVI 780 AM on Monday, September 15, 2025, Glasgow emphasised the importance of collaboration between the public and private sectors and the government in formulating this action plan. Photo Facebook
BAUGHERS BAY, Tortola, VI- The Executive Director of International Business Regulations, Ayana I. Glasgow, has announced that efforts are underway to develop and implement a national action plan aimed at addressing the territory's status on the Financial Action Task Force (FATF) Grey List.

During Talking Points on ZBVI 780 AM on Monday, September 15, 2025, Glasgow emphasised the importance of collaboration between the public and private sectors and the government in formulating this action plan.

In May 2025, it was reported that the Virgin Islands (VI) could be placed on the grey list. The territory was officially added to the list on June 13, 2025, due to concerns regarding its Anti-Money Laundering (AML) framework, particularly the identification of corporate beneficial owners.

A press release from the Ministry of Finance, dated June 13, 2025, stated that the ministry plans to implement a comprehensive national action plan to address the strategic AML and Counter-Terrorist Financing (CFT) deficiencies identified by the FATF.

'Our goal is to be delisted within two years'

When asked about the progress of the development of the plan, Glasgow stated, "The private sector has an extremely extremely supportive and has raised their hands to be part of this process. So, in terms of what we have done, in response, we've initially developed an action plan of our own to address the issues that have to be addressed and, in doing so, identify the priority areas that we need to action very quickly, because our goal is to be delisted within two years."

She acknowledged that this process is not an easy feat and pointed to a couple of things that the plan will reference, such as prosecutions and investigations, which she stated, being outside of a financial services space, takes time.

"But, as I said, we have taken the steps to have an action plan in place, identify the resources we need. Not just people, but technology and financial resources are necessary to make sure we can execute the action plan. The Attorney General's Chambers takes the lead, and they're supported by our ministry," Glasgow stated.

Everyone onboard

The Executive Director of International Business Regulations also stated that the private sector has stepped in, along with the Financial Services Commission, the National Investigation Agency, and the Financial Crimes Unit.

The key actions of the plan involve strengthening the beneficial ownership regime, increasing regulatory oversight of financial institutions and company service providers, improving the reporting of suspicious activities, and systematically pursuing anti-money laundering (AML) investigations and prosecutions. Additionally, the implementation of legislation such as the Anti-Money Laundering and Terrorist Financing Code of Practice is included.

The Virgin Islands is also enhancing its international cooperation and risk assessment capabilities to address strategic deficiencies identified by the Financial Action Task Force (FATF).

10 Responses to “VI's goal is to be taken off Grey List 'within two years'- Ayana I. Glasgow”

  • facts (16/09/2025, 11:01) Like (7) Dislike (0) Reply
    Well they need to start putting a bit more effort into the recommendations then!!
  • No chance (16/09/2025, 11:38) Like (7) Dislike (0) Reply
    Unless they change their policy on beneficial ownership and financial reporting requirements, the only place they going is the Black List
  • black list (16/09/2025, 11:40) Like (6) Dislike (1) Reply
    The BVI’s proposed access regime is not compatible with global corporate transparency efforts. Genuine beneficial ownership disclosure should empower investigators to detect suspicious activity and expose corruption—not create bureaucratic barriers that protect those with something to hide
    • stick to the facts (16/09/2025, 13:53) Like (2) Dislike (2) Reply
      @Black list - That is actually not true. What there is not is a global standard for open access which is what is being pushed on the BVI. The BVI's model that is being proposed is very similar to most other countries who have implemented (or are implementing) registers of beneficial ownership based on those who have a legitimate interest in needing the information. There is very clear frameworks set by courts that show that privacy of information is a right and not a privilege. The truth is that BVI framework to ensure that information is verified prior to it being uploaded to the beneficial ownership register exceeds the standards set by countries such as the UK. When regulations and requirements have changed by international regulators, the BVI has changed to meet the - those are one set globally, not what one or two countries want. The BVI has made significant strides already and there is a lot that is still left to be done, but it will take everyone as the panel stated very well. Let's try and stick to the facts and not just reiterate the rhetoric that seems popular right now. This is not about local politics - it's about our livelihood and remaining complaint to global requirements.
    • @ black list (17/09/2025, 02:22) Like (0) Dislike (0) Reply
      You sound like you work Governor's office - schupid
      • stick to the facts (17/09/2025, 08:53) Like (0) Dislike (0) Reply
        @Black list no, I work in the industry and know the facts.
  • Trapped (16/09/2025, 11:59) Like (0) Dislike (4) Reply
    Its nice to be in a position of when these International Blood Suckers say jump we must ask how high. I am sure Robert died realizing that we are in the belly of the beast.
  • Citizen (16/09/2025, 12:05) Like (7) Dislike (5) Reply
    We will forever be on a list. None of those colonizers want to see any progress for these islands. Watch and see there will be another list to get off of. Grey, black, Red, … let’s see, maybe pink with all this lgbtBS.
  • Wow beautiful (16/09/2025, 13:09) Like (4) Dislike (5) Reply
    I want she on my list........Lol
  • washing hard (16/09/2025, 15:28) Like (1) Dislike (0) Reply
    "this process is not an easy feat and pointed to a couple of things that the plan will reference, such as prosecutions and investigations"

    i does see all kinda piss in the news but i never see any cases with money laundering and fraud despite our well known 3rd pillar and young "business men"

    anyways dpp going lose but least show us there's consequences


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