Enforcement Action

Enforcement Action: Administrative Penalty $10,000.00
Name of Entity: Sucre & Sucre Trust Limited
Date of Action: 28/10/2015

An administrative penalty in the amount of $10,000.00 was imposed on Sucre & Sucre Trust 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 properly engage in or undertake customer due diligence; and

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