London Daily

Focus on the big picture.
Tuesday, Oct 14, 2025

Governor endorses BVI as ‘responsible’ amid FinCen scandal

Governor endorses BVI as ‘responsible’ amid FinCen scandal

The Office of the Governor has expressed confidence in the BVI’s financial services industry amid the leaked FinCen Files — the latest global financial scandal which names the BVI as a jurisdiction which facilitates money laundering.

The FinCen Files contain more than 2,500 leaked documents that uncover how some of the world’s largest banks have allowed criminals to move ‘dirty money’ around the world.

Since the FinCen reports, BVI News asked the Governor’s Office whether the leaked documents have any new implications for the territory.

A response from the Governor’s Office said: “The British Overseas Territories have demonstrated that they are responsible jurisdictions and are committed to meeting international standards (set by The Organisation for Economic Co-operation and Development, The Financial Action Task Force and others) in transparency and anti-money laundering.

They have a proven track record of cooperating with the UK and other jurisdictions to tackle financial crime and contribute to the global fight against illicit finance,” the response further said.

BOSSs is ‘the boss’


The governor also expressed confidence in the BVI’s Beneficial Ownership Secure Search system (BOSSs), which shares beneficial ownership information with BVI and UK authorities but not the general public.

“All inhabited Overseas Territories have committed to make beneficial ownership information available publicly by 2023. In BVI, the world-leading BOSS system and Exchange of Notes Arrangements are also in place to enable the sharing of information to support criminal investigations,” The response said.

No response from Premier


BVI News also sought a comment on the FinCen Files from Premier Andrew Fahie. He did not respond.

The International Consortium of Investigative Journalists that is examining FinCen Files said banks had flagged “high-risk” jurisdictions in more than 620 reports. Of that number, some 20 percent of the documents involve a company linked to the BVI.

Amid the FinCen Files being made public, Premier Fahie had announced, in the House of Assembly, his commitment to implementing publicly accessible registers of company beneficial ownership for the British Virgin Islands.

This is something the UK and European Union are pressuring the BVI to do as it is believed naming owners of companies will help countries identify tax evaders and stop money laundering.

Newsletter

Related Articles

0:00
0:00
Close
EU Deploys New Biometric Entry/Exit System: What Non-EU Travelers Must Know
Australian Prime Minister’s Private Number Exposed Through AI Contact Scraper
Ex-Microsoft Engineer Confirms Famous Windows XP Key Was Leaked Corporate License, Not a Hack
China’s lesson for the US: it takes more than chips to win the AI race
Australia Faces Demographic Risk as Fertility Falls to Record Low
California County Reinstates Mask Mandate in Health Facilities as Respiratory Illness Risk Rises
Israel and Hamas Agree to First Phase of Trump-Brokered Gaza Truce, Hostages to Be Freed
French Political Turmoil Elevates Marine Le Pen as Rassemblement National Poised for Power
China Unveils Sweeping Rare Earth Export Controls to Shield ‘National Security’
The Davos Set in Decline: Why the World Economic Forum’s Power Must Be Challenged
France: Less Than a Month After His Appointment, the New French Prime Minister Resigns
Hungarian Prime Minister Viktor Orbán stated that Hungary will not adopt the euro because the European Union is falling apart.
Sarah Mullally Becomes First Woman Appointed Archbishop of Canterbury
Mayor in western Germany in intensive care after stabbing
Australian government pays Deloitte nearly half a million dollars for a report built on fabricated quotes, fake citations, and AI-generated nonsense.
US Prosecutors Gained Legal Approval to Hack Telegram Servers
Macron Faces Intensifying Pressure to Resign or Trigger New Elections Amid France’s Political Turmoil
Standard Chartered Names Roberto Hoornweg as Sole Head of Corporate & Investment Banking
UK Asylum Housing Firm Faces Backlash Over £187 Million Profits and Poor Living Conditions
UK Police Crack Major Gang in Smuggling of up to 40,000 Stolen Phones to China
BYD’s UK Sales Soar Nearly Nine-Fold, Making Britain Its Biggest Market Outside China
Trump Proposes Farm Bailout from Tariff Revenues Amid Backlash from Other Industries
FIFA Accuses Malaysia of Forging Citizenship Documents, Suspends Seven Footballers
Latvia to Bar Tourist and Occasional Buses to Russia and Belarus Until 2026
A Dollar Coin Featuring Trump’s Portrait Expected to Be Issued Next Year
Australia Orders X to Block Murder Videos, Citing Online Safety and Public Exposure
Three Scientists Awarded Nobel Prize in Medicine for Discovery of Immune Self-Tolerance Mechanism
OpenAI and AMD Forge Landmark AI-Chip Alliance with Equity Option
Munich Airport Reopens After Second Drone Shutdown
France Names New Government Amid Political Crisis
Trump Stands Firm in Shutdown Showdown and Declares War on Drug Cartels — Turning Crisis into Opportunity
Surge of U.S. Billionaires Transforms London’s Peninsula Apartments into Ultra-Luxury Stronghold
Pro Europe and Anti-War Babiš Poised to Return to Power After Czech Parliamentary Vote
Jeff Bezos Calls AI Surge a ‘Good’ Bubble, Urges Focus on Lasting Innovation
Japan’s Ruling Party Chooses Sanae Takaichi, Clearing Path to First Female Prime Minister
Sean ‘Diddy’ Combs Sentenced to Fifty Months in Prison Following Prostitution Conviction
Taylor Swift’s ‘Showgirl’ Launch Extends Billion-Dollar Empire
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
×