INTAC (BVI) International Investments Limited

A warning letter was issued to INTAC (BVI) International Investments Limited for its contravention of the following sections of the Anti-Money Laundering and Terrorist Code of Practice, 2008: a) section 11(3)(n) for failing to incorporate anti-money laundering and terrorist financing compliance into job descriptions and performance evaluations of key staff; b) section 19(2), 19(3)(d) and 19(4) for failing to engage in customer due diligence in the required manner; and c) section 47(1)(b) for failing to employ appropriate systems and procedures of testing the awareness and understanding of the employees with respect to the training provided to them.