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.
Local News
Virgin Islands Set for Crown Land Management Overhaul with New Legislation
Crime/Police
Stabbing Incident Leaves Inmate Injured at His Majesty’s Prison
A stabbing incident that occurred on May 12 at His Majesty’s Prison, resulted in inmate Shakeel Ryan being transported to Dr. Orlando Smith Hospital for medical treatment.
Meanwhile, another individual has been apprehended and is currently being questioned at the Road Town Police Station.
Ryan, who is incarcerated for conspiracy to murder, remained hospitalised at the time of publication.
Circumstances surrounding the incident are still unclear, and further updates will be provided as the investigation progresses.
Local News
Heavy Rains Damage Retaining Wall at Joe’s Hill Manor Estate
The retaining wall at the Social Security-funded homes in Joe’s Hill Manor Estate sustained substantial damage after heavy rains inundated the territory on May 7 and 8, leaving significant damage at multiple sites across the area.
Fortunately, no injuries have been reported thus far, but efforts are underway to assess the full extent of the damage and ensure the safety of all affected areas.
In addition to the damage at Joe’s Hill Manor Estate, the torrential rains caused widespread flooding on the streets, with businesses on Flemming Street bearing the brunt of the floodwaters. The situation was compounded by erosion, landslides, and flash flooding on Virgin Gorda, rendering access to North Sound via Valley impassable and posing hazardous conditions for residents.
As a result of the adverse weather conditions, several banks across the region, including Bank of Asia (BVI), CIBC Caribbean, First Bank Virgin Islands, National Bank of the Virgin Islands, Popular, Republic Bank (BVI) and VP Bank (BVI), were forced to close their doors.
In a precautionary move to prioritise public safety, all public schools across the territory were closed. However, as of today, May 9, they have reopened, except for Elmore Stoutt High School, which will resume face-to-face sessions on Friday, May 10th, 2024.
-
Uncategorized2 weeks ago
Multiple Airports Targeted in Bomb Threats: RVIPF Investigates Coordinated Attacks
-
Local News2 weeks ago
Heavy Rain Triggers Flash Flood Warning in British Virgin Islands
-
Uncategorized2 weeks ago
Ciboney School of Excellence is the Primary School Foreign Language Bowl Champions
-
Local News1 week ago
Heavy Rains Damage Retaining Wall at Joe’s Hill Manor Estate
-
Uncategorized1 week ago
New Immigration Bill Aims to Clarify Residence and Belonger Status in the Virgin Islands
-
Uncategorized2 weeks ago
Records Management Centre Showcases Vital Role in Preserving History
-
Uncategorized1 week ago
Elmore Stoutt High School Set to Resume In-Person Classes Tomorrow
-
Uncategorized1 week ago
Virgin Islands Responds to Flash Flood Emergency: Governor Pruce Leads Recovery Efforts