TMF (B.V.I.) LTD.

Enforcement Summary:

An imposed administrative penalty in the amount of $120,000.00 was levied against TMF (B.V.I.) LTD. for its contravention of the Anti-Money Laundering Terrorist Financing Code of Practice, 2008 (the “AMLTF Code of Practice”):

• Section 20 of AMLTF Code of Practice (Requirement to engage in Enhanced Customer Due Diligence.)
• Section 21 of the AMLTF Code of Practice, 2008 (Failure to review and keep up-to-date CDD)
• Section 31(B) of the AMLTF Code of Practice, 2008 (Failure to test Third Party Relationships)