1. Introduction
On 30th September, 1997 the Legislative Council of the British Virgin Islands enacted the Proceeds of Criminal Conduct Act 1997 (the "Act"). The Act was brought into force on 2nd January 1998. The Act contains provisions broadly similar to those provisions relating to money laundering offences which are found in, or are in the process of being introduced into, the laws of the majority of the sophisticated common law jurisdictions throughout the world. The purpose of the Act is to deter any and all forms of money laundering in the British Virgin Islands.
2. Application
Section 2(1) of the Act defines criminal conduct as meaning conduct which
(i) Constitutes an offence to which the Act applies, or
