Basic Search  |  Summaries  |  Advanced SearchCompany County: Guernsey
Company Nation/Region: British Crown Dependency
Penalty: £266,000
Year: 2024
Date: 19 June, 2024
Offence Group: financial offences
Offence Type: anti-money-laundering deficiencies
Violation Description: The Guernsey Financial Services Commission decided to impose a financial penalty of £266,000 on Trident Trust Company in a finding that the company had failed carry out and review risk assessments and other due diligence on clients when providing services to yacht management companies operating motor vessels (including superyachts) owned by ultra-high net worth individuals and Politically Exposed Persons from high risk jurisdictions, and failed to ensure it established and maintained effective procedures and controls to forestall, prevent and detect money laundering and terrorist financing.
Agency: Guernsey Financial Services Commission
Source of Data: (click here)