Administrative Penalty $25,000.00 - Orangefield (BVI) Limited (2015-10-12)

Summary

This is an enforcement notice published by the BVI Financial Services Commission recording that it imposed a $25,000 administrative penalty on Orangefield (BVI) Limited. The penalty relates to a breach of the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008, specifically the requirement to review and keep customer due diligence information up to date.

• Penalty: Administrative penalty of $25,000.00 imposed on Orangefield (BVI) Limited.
• Breach: Contravention of section 21 of the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008, for failing to review and keep up-to-date customer due diligence information as required.
• Reference: Matter ID BF101113/288.

This notice is purely a record of a completed enforcement action against a named entity; it does not create new ongoing obligations for other regulated persons, though it serves as a reminder of the Commission's expectation that licensees maintain up-to-date customer due diligence information under the AML/CFT Code of Practice.

Applies to

Orangefield (BVI) Limited