LEAPER INTERNATIONAL BUSINESS SERVICES CENTRE LIMITED (TC005109)

The Licensee has contravened:

1. Section 19(1) of Schedule 2 to the AMLO, namely, the Licensee has failed to establish and maintain effective procedures for determining   whether a customer or a beneficial owner of a customer is a politically exposed person.

2. 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$4,000 (Decision Date: 5 June 2024)

Statement of Disciplinary Action