Warning Letter - Aramo Trust Co. Limited (2014-12-17)

Summary

This is a short enforcement notice published by the BVI Financial Services Commission recording a warning letter issued to Aramo Trust Co. Limited. It does not create new rules; it publicly discloses a completed enforcement action taken against this specific trust company.

• Breach found: Contravention of section 30(1) of the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008.
• Nature of failure: Aramo Trust Co. Limited failed to ensure that copies of due diligence documents it relied on were properly certified.
• Outcome: The Commission issued a warning letter to the company (Matter ID: BF101113/213).

For other regulated entities, the notice serves as an illustration of the FSC's enforcement priorities around customer due diligence document certification standards under the AML/CFT Code of Practice, rather than imposing any new direct requirement.

Applies to

trust companies, trust and corporate services providers