2 May 2022
HAMILTON, BERMUDA – The Bermuda Monetary Authority (Authority) has levied civil penalties totalling $1,118,500 on Conyers Trust Company (Bermuda) Limited (Company), a local entity licensed under the Trusts (Regulation of Trust Business) Act 2001 (Trusts Act).
The civil penalties have been levied on the Company for historic failures to adequately comply with the Trusts Act and the Proceeds of Crime (Anti-Money Laundering & Anti-Terrorist Financing) Regulations 2008 (Regulations).
