Enforcement Action

Enforcement Action: Administrative Penalty $15,000.00
Name of Entity: Proservices Limited
Date of Action: 2/25/2015

An administrative penalty in the amount of $15,000.00 was imposed on Proservices Limited for its contraventions of the following sections of the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008:

a)      section 20(2) and 20(3) for failing to engage in proper enhanced customer due diligence; and

b)      section 21(1), 21(2) and 21(4) for failing to review and keep up to date customer due diligence information in the required manner.