The questionnaire you are about to complete has been compiled by the National Risk Assessment Steering Group (NRASG) to gather data for the National Risk Assessment process that the Territory is currently engaging in. 

As a brief background, all countries will be engaging in a similar exercise to assess their money laundering (ML) and terrorist financing (TF) risks in order to adhere to the Financial Action Task Force’s International Standards on Combating Money Laundering and the Financing of Terrorism and Proliferation.  This assessment process includes a review of the Territory’s key sectors, which will aid in developing methods to reduce ML and TF risks faced in the Virgin Islands. 

The information captured in the questionnaires will be used to create greater awareness and understanding of risks, as well as to develop methods to reduce and mitigate these risks.  All areas of risks, including money laundering (ML), terrorist financing (TF), and other risks faced by the Virgin Islands will be targeted.  The results of these questionnaires will greatly assist in the development of policies to improve the Territory anti-money laundering and terrorist financing framework.

Confidentiality: Please be assured that submissions will remain confidential.  You are advised that:

a)            the completed questionnaires will not be published;

b)            any information published will only be on an aggregate basis (no firm or person will be identified);

c)            information within the questionnaires will not be used outside of the National Risk Assessment process; and

d)            Assessors, endorsed by the NRASG, may seek additional clarification through direct engagement.

We greatly appreciate your contribution to this critical project.

Select your questionnaire below based on your Sector

Financial Institutions
International Cooperation for Financial Institutions
Designated Non-Financial Business and Professions (DNFBPs)
Non-Profit Organizations (NPOs)
Other Designated Non-Financial Businesses (High Value Goods Dealers)
Competent Authorities
International Cooperation for Competent Authorities

Explanation of Sectors for Completing Questionnaires

Financial Institutions

For the purpose of the National Risk Assessment and completion of the pre-assessment questionnaires a Financial Institution is any person/entity licensed by the Financial Services Commission involved in any of the following activities on behalf of a client:

·         Banking business

·         Financial leasing

·         Securities and investment business

·         Insurance business

·         Money or value transfer services

·         Trust and Company Service Providers

If you are a licensed financial institution your are obligated to meet the requirements set out in the Anti-money Laundering and Terrorist Financing Code of Practice, 2008 and as such must be included in the National Risk Assessment process.

All Financial Institutions are kindly asked to complete the questionnaires for Financial Institutions and International Cooperation for Financial Institutions.

Designated Non-Financial Businesses and Professions (DNFBPs)

A Designated Non-financial Business or Profession (DNFBP) is defined as any one of the following:

•       Real estate agents

•       Dealers in precious metals and stones

•       Lawyers, notaries public and other independent legal professionals

•       Accountants

Persons engaged in these activities are obligated to meet the requirements set out in the Anti-money Laundering and Terrorist Financing Code of Practice, 2008 and as such must be included in the National Risk Assessment process.

If your business falls into any of the listed categories please assist us by completing the DNFBP questionnaire.

Non-Profit Organisations (NPOs)

An NPO is any organisation established within the Territory primarily for the promotion of charitable, religious, cultural, educational, social or fraternal purposes, or engages in other activities or programmes for the benefit of the public, or a section of the public, and raises or disburses funds in order to achieve its objectives.

Organisations engaged in these activities are obligated to meet the requirements set out in the Anti-money Laundering and Terrorist Financing Code of Practice, 2008 and as such must be included in the National Risk Assessment process.

If you are a Non-profit Organisation operating in the Virgin Islands (registered or not) please assist us by completing the NPO questionnaire.

Other Designated Non-financial Businesses (High Value Goods Dealers)

A Designated Non-financial Business or High Value Goods Dealer is any person engaged in the business of buying and selling:

·       boats

·         vehicles

·         jewellery

·         other high valued goods (e.g. furniture, machinery, art)

when such transaction involves accepting cash payments of $15,000 or more or the equivalent in any other currency.

Persons engaged in these activities are obligated to meet the requirements set out in the Anti-money Laundering and Terrorist Financing Code of Practice, 2008 and as such must be included in the National Risk Assessment process.

If your business falls into any of the listed categories please assist us by completing the High Value Goods questionnaire.

Competent Authorities

A Competent Authority is any public authority with designated responsibility for combating ML and TF.  Local Competent Authorities include:

• Governor’s Office
• Attorney General’s Chambers
• Financial Investigation Agency
• Financial Services Commission
• International Tax Authority

 The listed Competent Authorities are kindly asked to do their part by completing the questionnaires related to Competent Authorities and International Cooperation.