TIMES ENTERPRISES REGISTRATION SERVICE (HK) LIMITED (TC007126)

The Licensee has contravened:

1. Section 5(1) of Schedule 2 to the AMLO, namely, the Licensee has failed to continuously monitor the business relationship with a customer by reviewing from time to time documents, data and information relating to the customer that have been obtained by the Licensee for the purpose of conducting customer due diligence to ensure that they are up-to-date and relevant.

2. Section 20(1) of Schedule 2 to the AMLO on the record-keeping requirements.

3. Section 23 of Schedule 2 to the AMLO, namely, the Licensee has failed to take all reasonable measures to ensure that proper safeguards exist to prevent a contravention of any requirement under Part 2 or 3 of Schedule 2; and to mitigate money laundering and terrorist financing risks.

Public reprimand and imposition of a pecuniary penalty of HK$5,000 (Decision Date: 1 February 2024)

Statement of Disciplinary Action