PaymentsCenter

The reprimand was issued due to Ecom Center Ltd’s failure to establish and implement adequate internal controls and procedures to mitigate the risk of money laundering and terrorist financing. The company was also found to have failed to conduct customer due diligence and ongoing monitoring of its customers.

As a result of the reprimand, Ecom Center Ltd was required to take remedial actions to address the deficiencies identified by the Commissioner of Customs and Excise. The company was also required to submit a report to the Commissioner detailing the actions taken to rectify the issues.

It is important for merchants considering using PaymentsCenter as a payment processor to be aware of this reprimand and to conduct their own due diligence on the company before entering into any business relationship.

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