Senior officials from the Overseas Territories (OTs) and the United Kingdom (UK) will be meeting in the BVI from September 12 to 14 to discuss Illicit Finance and ways to combat the global issue.
Deputy Premier and Minister for Financial Services, Labour, and Trade, Honourable Lorna Smith, made the announcement during a recent sitting of the House of Assembly.
She said the aim of the meeting is to engage in open dialogue which will be guided by principles of transparency, financial integrity and a collective commitment to addressing illicit finance through enhanced cooperation.
Hon. Smith also provided further context on the importance of addressing illicit finance, stating that OTs and the UK which operate as significant global financial centres, face common challenges that will only increase as criminal enterprises continue to become even more sophisticated.
Highlighting the value of the exchange of notes arrangements between the UK and OTs, the deputy premier said the meeting will also aim to build on the existing achievements, to further strengthen the integrity of the respective financial systems.
Officials from the governments of Anguilla, Bermuda, the Cayman Islands, Gibraltar, Montserrat, the Turks and Caicos Islands, and the United Kingdom are expected to be present in the territory for the meeting, while representatives from the governments of the Falkland Islands and St. Helena will participate virtually.
The meeting will be co-chaired by the UK Foreign, Commonwealth, and Development Office (FCDO) and the Government of the Virgin Islands.