Enforcement Action

Enforcement Action: Administrative Penalty $15,000.00
Name of Entity: CR (BVI) LIMITED
Date of Action: 17/11/2015

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

a)     section 19 for failing to engage in or undertake customer due diligence;

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

c)    section 31(5) for failing to adequately ensure that an introducer reviews and maintains customer due diligence information as required.