Bermuda Monetary Authority fines Meritus Trust $600,000 for non-compliance with AML/ATF regulations, a rare sanctions fine being imposed in one of the UK’s overseas territories or crown dependencies

The most recent instance of a sanctions-related fine imposed by one of the UK’s crown dependencies or overseas territories dates back to 2015/2016. In 2024, reports indicated that companies registered in British Overseas Territories exported goods to Russia, potentially breaching UK sanctions…