According to investigation newly carried by advocacy group Global Witness, British Overseas Territories, including BVI, can play an important role in facilitating movement of suspect funds into the United States.
With a hidden camera, investigators met with 13 NY law firms, representing themselves as advisors to a foreign government official, and asking how to anonymously move large amounts of money that could have raised suspicions of corruption. In many cases, the lawyers provided suggestions on how to use companies or trusts from the overseas territories to move the money.
With exception of Montserrat and Gibraltar, company ownership in the other overseas territories still remains secret. The UK and EU are now on their way to provide public access to registers of company owners, which would make it easier to identify the actual person standing behind the company.