Junior Minister for Financial Services and Economic Development and Digital Transformation, the Hon Lorna G. Smith, OBE (AL), says the Virgin Islands is in a “very good place” as it works to leave the Financial Action Task Force’s (FATF) grey list. Photo: Internet source

Speaking during the Talking Points programme on ZBVI 780 AM on Monday, October 5, 2026, Hon Lorna G. Smith, OBE (AL) said she is optimistic the Territory will meet its agreed two-year timeframe. Photo: VINO/File

Speaking during the Talking Points programme on ZBVI 780 AM on Monday, October 5, 2026, she said she is optimistic the Territory will meet its agreed two-year timeframe.

Smith said she expects to attend the next FATF plenary meeting in France, beginning on the 23rd of this month. 

She cautioned that no outcome could be announced in advance, as it would depend on developments at the meeting.

“We can’t make any announcements now; we can’t say what’s going to happen because you don’t know,” Hon Smith said. “But we’re in a very good place, and we are expecting, barring any unexpected developments, to be off the grey list within the two-year time frame that we agreed to last June.” 

VI meets 40 FATF recommendations 

Honourable Smith said the Virgin Islands is compliant with all 40 FATF recommendations. She added that the Government expects to issue a statement after the meeting in France to provide an update on the Territory’s position.

The VI was placed under FATF increased monitoring, commonly known as the grey list, in June 2025. The Government has since pledged to complete its action plan within two years. 

At a June 2026 plenary in Paris, FATF recognised the Territory’s continued progress in strengthening its anti-money-laundering and counter-terrorist-financing framework; the Government reported that more than 92 per cent of actions in its revised national plan had been completed or were ahead of schedule.

“I’m very optimistic,” Honourable Smith said.