ILS Fiduciary (BVI) Limited

An administrative penalty in the amount of $25,000.00 was imposed on ILS Fiduciary (BVI) Limited for its contravention of the following sections of the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008: a) section 19(2) for failing to properly engage in or undertake customer due diligence; 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.