Penalty of a fine $35,000 - ILS FIDUCIARY (BVI) LIMITED (2023-01-13)

Summary

This is an enforcement action notice published by the BVI Financial Services Commission announcing that it imposed a fine of $35,000.00 on ILS Fiduciary (BVI) Limited. The penalty was issued for a contravention of the Anti-Money Laundering Terrorist Financing Code of Practice, 2008 (the AMLTF Code of Practice), specifically the requirement to conduct Enhanced Customer Due Diligence.

• Entity fined: ILS Fiduciary (BVI) Limited
• Fine amount: $35,000.00
• Breach: Section 20 of the AMLTF Code of Practice, 2008 (failure to engage in Enhanced Customer Due Diligence)
• Matter reference: ENF011323/022

This notice is purely informational, recording a completed enforcement outcome against a named entity; it does not itself create new ongoing obligations for other regulated persons, though it signals the Commission's continued focus on enhanced due diligence compliance under the AMLTF Code of Practice.

Applies to

trust and corporate services providers