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Lotus Corporate Services Ltd.

Enforcement Action
Enforcement Action:
Enforcement Summary:
An administrative penalty in the amount of $25,000.00 was imposed on Lotus Corporate Services Ltd. 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, or additional CDD in the case of a trustee of a trust or a legal person; b) section 20 for failing to engage in proper enhanced customer due diligence; and c) section 21 for failing to review and keep up to date customer due diligence information in the required manner.
Matter ID: