JALTFAC

The Joint Anti-money Laundering and Terrorist Financing Advisory Committee (JALTFAC) has a statutory remit through the Proceeds of Criminal Conduct Act, 1997 for advising the Financial Services Commission on initiatives for the prevention and detection of money laundering and terrorist financing activities and therefore play a critical advisory role in the NRA process.  

The Act mandates that JALTFAC be comprised of members drawn from the public and private sectors with knowledge and experience in anti-money laundering and countering the financing of terrorism issues.  Private sector representatives of JALTFAC represent legal and banking professionals, registered agents, mutual funds practitioners, insurance and accounting professionals and compliance officers.  Public sector representatives include the heads of the Royal Virgin Islands Police Force, HM Customs, Financial Investigation Agency, Ministry of Finance, Attorney General’s Chambers and the Financial Services Commission.