Warning Letter - INTAC (BVI) International Investments Limited (2015-11-27)

Summary

This is a public enforcement notice from the BVI Financial Services Commission announcing that a warning letter was issued to INTAC (BVI) International Investments Limited for breaches of the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008. It is a record of a completed enforcement action rather than a document imposing new rules on the wider industry.

• Section 11(3)(n): Failing to incorporate anti-money laundering and terrorist financing compliance into job descriptions and performance evaluations of key staff.
• Section 19(2), 19(3)(d) and 19(4): Failing to conduct customer due diligence in the manner required by the Code.
• Section 47(1)(b): Failing to employ appropriate systems and procedures for testing employees' awareness and understanding of AML/CFT training provided to them.

The notice records the matter under reference BF101113/267 and does not set out any further remedial timeline, penalty amount, or ongoing obligations beyond the warning itself.

Applies to

INTAC (BVI) International Investments Limited