Administrative Penalties to the total of $125,000 - ALEMAN, CORDERO, GALINDO & LEE TRUST (BVI) LIMITED (2025-11-21)

Summary

This is a public enforcement notice from the BVI Financial Services Commission announcing administrative penalties totaling $125,000 against Aleman, Cordero, Galindo & Lee Trust (BVI) Limited. The penalties were imposed for contraventions of the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008 (the AMLTF Code of Practice).

• Entity: Aleman, Cordero, Galindo & Lee Trust (BVI) Limited, a BVI trust and corporate services provider (TCSP).
• Penalty: Aggregate administrative penalties of $125,000.00.
• Basis: Contraventions of the Anti-Money Laundering Terrorist Financing Code of Practice, 2008.
• Reference: Matter ID 112125/060.

The notice is a record of a completed enforcement action against a named licensee rather than a rule change; it does not itself impose new ongoing obligations on other regulated entities, though it signals the Commission's continued focus on AML/CFT Code compliance among TCSPs.

Applies to

Trust & Corporate Services Providers (TCSPs), trust companies