BERMUDA: MONEY TRANSMISSION COMPANY GIVEN PUBLIC CENSURE

On 22 September, the Royal Gazette reported that Blue Nile Services Limited, a company that provides money transmission services in Bermuda, has been issued with a public censure by the Bermuda Monetary Authority.  The censure relates to a number of breaches of the Proceeds of Crime (anti-money laundering and antiterrorist financing) Regulations 2008 and the International Sanctions Regulations 2013.  Blue Nile Services is a privately-owned limited liability company that was formed in 2017, and is the official agent for Western Union in Bermuda.

http://www.royalgazette.com/local-business/article/20200922/bma-issues-public-censure-to-blue-nile-services

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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