BMA Issue Public Censure To Blue Nile Services

September 22, 2020

The Bermuda Monetary Authority has issued a “Public Censure” to Blue Nile Services Limited.

A spokesperson said, “The Bermuda Monetary Authority [Authority] has issued a Public Censure to Blue Nile Services Limited (Company), a money service business provider, for a number of breaches of the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations 2008 (POCA Regulations) and the International Sanctions Regulations 2013 [Sanctions Regulations].

“The Company is permitted to continue with its existing business, however it will be subject to enhanced supervision. The enhanced supervision will remain in place until the Authority is satisfied that the Company is fully compliant with all of its obligations under the POCA Regulations and the Sanctions Regulations.”

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Category: All, Business