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The Bermuda Monetary Authority levied a civil penalty on the Hamilton City-based private placement life insurance firm for noncompliance with the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations 2008.
The Bermuda Monetary Authority issued civil penalties totaling $500,000 against the Hamilton, Bermuda-based company for its failure to adequately comply with anti-money laundering and counterterrorist financing requirements.
| Technical | Effectiveness |
|---|---|
| Compliant : 28 | High : 1 |
| Largely Compliant : 11 | Substantial : 6 |
| Partially Compliant : 1 | Moderate : 3 |
| Non-Compliant : 0 | Low : 1 |
| Rank : 38/110 |
| Score : 4.75/10 |
| Rank : N/A |
| Score : N/A |
| Rank : 40/133 |
| Score : 73/100 |