Enforcement Action

Enforcement Action: Administrative Penalty $15,000.00
Name of Entity: Intertrust Corporate Services (BVI) Limited
Date of Action: 8/26/2015

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

a)    section 19(2), 19(3)(d), 19(4), 19(5), 24, 25, 27 and 28 for failing to properly engage in or undertake customer due diligence, or additional customer due diligence in the case of a trustee of a trust or a legal person;

b)    section 20(2) and 20(4) for failing to engage in proper enhanced customer due diligence; and

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