Enforcement Action

Enforcement Action: Administrative Penalty $10,000.00
Name of Entity: ARAMO TRUST CO. LIMITED
Date of Action: 10/26/2015

An administrative penalty in the amount of $10,000.00 was imposed on ARAMO TRUST CO. LIMITED for its contravention of the following sections of the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008:

a)      section 21(1) and (2) for failing to review and keep up to date customer due diligence information in the required manner; and

b)      section 42 for failing to ensure proper record keeping.