Local News
Deputy Premier Commends ICC FraudNet’s 20th Anniversary Amid Global Financial Challenges
In a gathering of international delegates at the 20th anniversary of the ICC FraudNet Conference held at Scrub Island, British Virgin Islands, Hon. Lorna Smith, OBE, Minister for Financial Services, Labour, and Trade, underscored the critical role of the organization amidst prevailing global financial uncertainties. Addressing over 90 delegates representing more than 30 countries, Minister Smith emphasized the significance of ICC FraudNet’s milestone anniversary against the backdrop of geopolitical upheavals affecting the financial landscape worldwide.
“In these challenging times, the work of organisations like ICC FraudNet becomes even more crucial,” Minister Smith remarked. “Their efforts in combating financial crime and promoting global financial integrity are vital in safeguarding the stability of our financial systems.”
Reflecting on the historical ties between ICC FraudNet and the British Virgin Islands, Minister Smith extended warm congratulations to the organisation and its founding members. She paid tribute to Martin Kenney, ICC FraudNet’s founding member #002, for his longstanding contributions to the Virgin Islands’ private sector and invaluable counsel to successive governments.
“Martin Kenney has been a pillar of support for the Virgin Islands for over two decades,” Minister Smith acknowledged. “His strategic guidance has enriched our private sector and helped navigate challenges.”
Highlighting the innovative approaches employed by the British Virgin Islands in combating financial crime, Minister Smith emphasised the importance of collaboration between government agencies, law enforcement, and the private sector. She lauded the jurisdiction’s Beneficial Ownership Secure Search System (BOSSs) as a pivotal tool in identifying and prosecuting financial wrongdoing.
“Our commitment to maintaining stringent regulatory standards underscores our resolve to combat financial crime,” Minister Smith affirmed. “Collaboration and innovation are key in our efforts to uphold the integrity of our financial systems.”
Minister Smith’s address set the stage for a conference focused on exploring new developments in Artificial Intelligence (AI) and strengthening international cooperation in asset recovery efforts. As delegates convened for discussions, her words resonated as a testament to the British Virgin Islands’ steadfast commitment to combating financial crime and promoting global financial integrity.
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Tola Radio Battles Legal Dispute Over Shutdown, Calls for Public Support
Tola Radio VI 100.5 FM, known as “the people’s radio,” has been off the air for 14 days amidst a legal standoff with Caribbean Cellular Telephone Limited (CCT). Managing Director Floyd P. Burnett, also known as “Heritage,” is urging public support as the station navigates what he describes as a targeted attack on freedom of speech and locally-owned businesses.
Mr. Burnett alleges that despite meeting all payment requirements and deadlines, CCT refused to accept Tola Radio’s payment and later disabled the station’s broadcasting equipment. “They physically touched our equipment and locked them off, despite written legal letters asking and instructing it not to be done,” he stated.
The dispute follows CCT’s October announcement terminating its service agreement with the radio station. CCT clarified that Tola Radio could retain its services if it became a paying customer, but according to Burnett, his payment was rejected without justification.
The controversy escalated when Burnett claimed an attempt was made to have him arrested and charged with attempted murder. “The public was to wake up and hear the radio off along with hearing I was arrested and charged, but God is greater than man!” he said.
Efforts to secure an extension for relocating Tola Radio’s equipment were also denied, Burnett said. Additionally, an urgent injunction filed in the High Court was postponed by a visiting judge until November 22 without hearing any arguments.
The ongoing shutdown has left eight employees without income, caused significant financial losses, and breached client agreements. Burnett criticized government officials for their lack of action, accusing them of failing to address the issue despite the government being a major client of CCT.
“Like most problems facing the BVI, they can’t [find] no way to help us! Even though the government is the tower people’s biggest client,” Burnett remarked.
Burnett is calling on the public to boycott CCT in protest. “Plug out the phone, plug out the chip, don’t pay your bill! We need to make a statement to corporate BVI today!” he urged.
He framed the situation as a broader fight for “freedom of speech, freedom of the press, and freedom of information,” asserting that the attack on Tola Radio sets a dangerous precedent for other local businesses.
Despite the challenges, Burnett assured Tola Radio’s listeners and partners that the station will resume broadcasting soon. “We will be back on air shortly, hopefully before the day is out,” he promised.
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