Premier and Minister for Finance Dr. the Hon. D. Orlando Smith called on Legislators in the House of Assembly to remain vigilant and committed to safeguard the reputation of the BVI as it relates to the fight against money laundering and terrorist financing. Premier Smith told the House of Assembly that the BVI has cultivated a reputation of being a well-regulated jurisdiction where certain illegal activities cannot thrive.
“Mr. [Robert] Mathavious (Managing Director/CEO of the Financial Services Commission) from time to time will say we don’t welcome people who wish to get into nefarious activities, and that is an important message that we have been sending to everybody; that we do not welcome nefarious activities,” Hon. Smith announced during the sitting of 12 May.
The BVI Leader urged his fellow legislators to take note of the war against terrorism that is being waged internationally, and announced that the BVI must do its part: “Madame Speaker that is the concern of the international community — the international standard setters — because they are concerned about things such as … money laundering, terrorism financing, financing of the proliferation of weapons of mass destruction.”
In stressing his point, Hon. Smith said: “We see what happens around the world when it comes to wars and the methods of funding that they use and the fact that the terrorism that is going on around the world right now and the question is how are they being financed … we must also be aware of these things.”