Local News
Virgin Islands Commits to Financial Integrity Standards in response to CFATF Report
The government of the Virgin Islands has taken a decisive step forward in its commitment to upholding financial integrity standards, responding to the publication of the Mutual Evaluation Report by the Caribbean Financial Action Task Force (CFATF) with resolute determination.
Premier and Minister of Finance Dr the Honourable Natalio Wheatley emphasised the paramount importance of maintaining high standards of financial integrity and transparency, stating, “We know high standards of financial integrity and transparency that meet global standards are essential.” This commitment was further underscored by the government’s pledge to diligently implement recommendations outlined in the accompanying National Action Plan, unveiled in tandem with the report.
Deputy Premier and Minister for Financial Services, Labour, and Trade, Honourable Lorna Smith, OBE, outlined a comprehensive array of proactive measures already underway. These initiatives span from the revision of the National Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) Policy to the establishment of a regulatory framework for virtual assets service providers (VASP).
Attorney General, Honourable Dawn J. Smith, shed light on the jurisdiction’s robust legislative framework and emphasised the imperative of fostering a cohesive partnership between the public and private sectors. “We have a strong legislative framework in place,” noted Minister Smith, stressing the collective responsibility shared by all stakeholders in combating financial malpractice.
The government’s proactive response to the CFATF report underscores its unwavering commitment to not only meet but exceed expectations in safeguarding the financial sector against illicit activities.
The CFATF Plenary, held in Aruba from November 26th to December 1st, 2023, adopted the Mutual Evaluation Report of the Virgin Islands (British). This evaluation provides a comprehensive analysis of the Anti-Money Laundering (AML)/Counter-Terrorist Financing (CTF) measures in place in the Virgin Islands (British) as of the on-site visit conducted between March 13th and April 3rd, 2023. The report assesses the jurisdiction’s compliance with the FATF 40 Recommendations and evaluates the effectiveness of its AML/CFT system, offering recommendations to strengthen the system further.
The Royal Virgin Islands Police Force has confirmed that Tarik Aaron was arrested shortly before midnight on Friday, April 17, on extradition orders issued by authorities in the United States Virgin Islands, and has since appeared before the Magistrate’s Court.
According to police, the arrest was carried out in connection with a request from USVI authorities, though further details have not been disclosed.
Aaron appeared before the Magistrate’s Court today and was denied bail.
Further updates are expected as more information becomes available.
The Civil Registry and Passport Office has announced an increase in fees for United Kingdom passports, effective April 8, 2026.
According to the office, the revised fees apply to new, renewal and replacement passport applications, as well as other related services.
Under the new structure, the cost for a new, renewal or replacement adult passport has been set at £116.50, while the fee for a child passport is £75.50. Adult frequent traveller passports will cost £130.50, and child frequent traveller passports £89.50.
The fee for changes to an existing passport will also be £116.50. In addition, a delivery fee of £14.32 will apply.
The Civil Registry and Passport Office advised that the updated fees are now in effect and apply to all relevant applications submitted on or after April 8.
A bill proposing wide-ranging changes to the Virgin Islands’ electoral system was introduced in the House of Assembly today, Tuesday, April 22, by Premier and Minister of Finance, Honourable Dr. Natalio D. Wheatley.
The proposed Elections (Amendment) Act, 2026, is based on consultations with stakeholders and recommendations from observer missions, as well as input from the Deputy Governor’s Office and the Office of the Supervisor of Elections.
“This is the Elections Amendment Act 2026, following extensive deliberations with a number of entities, including a committee of the House who looked at recommendations of various observer missions that came to The Virgin Islands,” Hon. Wheatley said during the continuation of the Second Sitting of the Third Session of the Fifth House of Assembly.
He said the bill also builds on work undertaken by the previous House of Assembly. “Also, the last House of Assembly looked at a number of recommendations that were forwarded through the Deputy Governor’s Office and the Office of the Supervisor of Elections,” he said.
Hon. Wheatley said the proposed amendments were developed through discussions on changes to the Elections Act. “We had very extensive discussions about amendments to the Elections Act, and of course, those recommendations were used to make this Amendment Act. This received its first reading some time ago, and now we are here to debate this Elections Act, so that it can therefore become law,” he said.
The bill introduces several reforms to the electoral framework, including expanded access to voting through mobile and curbside options for individuals with physical limitations and the formal use of assistive technologies for voters with disabilities.
It also provides for the establishment of a Department of Elections and an Elections Advisory Committee to oversee voter registration and election administration.
Additional provisions include a formal Code of Conduct for political parties and candidates, along with new rules governing campaign donations and political financing.
The legislation also proposes restrictions on the announcement of major public grants or projects shortly before an election, aimed at addressing potential incumbency advantages.
The bill has already received its first reading and is expected to be referred to a committee when the House of Assembly resumes on April 30, 2026, at 10 a.m., where it will undergo further review as part of the legislative process.
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