Enforcement Action

Enforcement Action: Administrative Penalties $20,000.00
Name of Entity: EAST ASIA CORPORATE SERVICES (B.V.I.) LIMITED
Date of Action: 07/04/2017

Administrative penalties in the amount of $20,000.00 was imposed on EAST ASIA CORPORATE SERVICES (B.V.I.) 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:-

  1. Section 19(2) - Requirements of customer due diligence.
  2. Section 20 - Requirements of enhanced customer due diligence.
  3. Section 21 - Updating customer due diligence information.
  4. Section 31 - Written introductions.