VI can now use seized illicit assets to 'uplift society in various ways'- Premier
The Bill, passed on February 28, 2025, expands the scope of asset seizure laws in the VI, enhances law enforcement capabilities, and refines the distribution of forfeited funds to benefit various sectors of society.
Proceeds to 'uplift society'
Premier and Minister of Finance, Dr the Honourable Natalio D. Wheatley (R7), who successfully piloted the amendments, defended the proposed provisions, arguing on its importance in tackling financial crimes, such as money laundering, terrorist financing, and corruption.
“This bill seeks to amend the Asset Seizure and Forfeiture Act 2020 with the overarching objective of enhancing the territory's legal framework for combating money laundering, terrorist financing, and other financial crimes.”
Among the more poignant provisions cited by the Premier, was the expansion of designated offences under the Act, ensuring that all criminal activities—including fraud, drug trafficking, and corruption—are now subject to asset seizure and forfeiture.
This expansion, he said, “will significantly enhance the Act's effectiveness as a tool for depriving criminals of illicit proceeds, thereby deterring criminal conduct and reinforcing the integrity of the financial system.”
The Premier also used the occasion to reiterate that the amendments will also enable the Virgin Islands to use proceeds from ill-gotten gains to uplift its society and peoples.
"It does present a significant opportunity to take some of these ill-gotten gains, proceeds of criminal conduct, and use them to uplift our society in various ways.”
Health Minister applauds Amendments
Meanwhile, Minister for Health and Social Development, Hon Vincent O. Wheatley (R9), in voicing his support for the bill, particularly—Schedule II—which governs the allocation of seized assets, told members, "I'm so excited by Schedule II, I figured I'd say a few words about it."
According to the Minister, the new amendments address practical enforcement challenges while keeping the Act aligned with international best practices, noting that the updated allocation formula ensures that funds from seized assets will be directed toward essential services and development programmes.
The Royal Virgin Islands Police Force, His Majesty’s Customs, and the Financial Investigation Agency will collectively receive 25 percent of the funds, distributed by Cabinet based on their contributions to asset recovery.
Other allocations include Immigration Department at five percent, the Office of the Director of Public Prosecutions is set to receive 10 percent, the Courts and His Majesty’s Prison, another five percentage and laudably, a Conservative Fund, Ministry of Education, Interfaith and Sports, Sister Islands Development, Territorial Infrastructure Programme, and Entrepreneurship Development Programmes with a whopping 50 percent earmarked for allocation.
Minister Wheatley, in lauding the inclusion of Sister Islands Development in the funding allocation, observed it as “a first in my time in here.”
He did strongly advocate; however, for the addition of healthcare to the list of beneficiaries, pleading publicly.
The Minister further used his contribution to the debate to caution however, that these funds should not be absorbed into the regular budget but instead remain a separate funding stream for designated projects.
'Appropriate safeguards'
The Bill—since approved—also grants broader investigative powers to law enforcement agencies, allowing them to question individuals and conduct inquiries necessary for financial crime investigations, but according to, Premier Wheatley, appropriate safeguards will be in place to prevent misuse of these powers and protect fundamental rights.
Additionally, the amendments strengthen international cooperation by facilitating enhanced information sharing with foreign law enforcement agencies, financial intelligence units, and other competent authorities.
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Thanks you for information of your government's plans, but we would prefer to hear more of the things that our government has done rather that the things it may do. Remember this, talk alone does no good work, but good works does talk clearly, and loudly for all to hear, and see its finished form, whether it be good or evil.