Enforcement Action

Enforcement Action: Administrative Penalties $25,000.00
Name of Entity: BLENHEIM INSURANCE MANAGEMENT (BVI) LIMITED
Date of Action: 31/03/2017

Administrative penalties in the amount of $25,000.00 was imposed on BLENHEIM INSURANCE MANAGEMENT (BVI) LIMITED, pursuant to schedule 4 of the Anti-money Laundering and Terrorist Financing Code of Practice, 2008 (“AMLTF Code”), for its contravention of the following sections of the AMLTF Code, 2008:-

  1. Section 11 - Requirements to establish an internal control system.
  2. Section 14 - Responsibility of senior management.
  3. Section 48(1) - Frequency, delivery and focus of training.