As a licensed entity under the jurisdiction of Labuan Financial Services Authority (LFSA), Law & Commerce Trust Limited (LCTL) is guided by Acts which govern the industry and Guidelines issued by LFSA.

Compliance Dept has to ensure LCTL is in compliance with the Acts and all the Guidelines as listed below

  1. Guidelines on Anti Money Laundering and Counter Financing of Terrorism
  2. Guidelines for a Trust Company issued by Labuan FSA January 2005
  3. Guidelines on Work Permit Application issued by Labuan FSA February 2015
  4. Clarification on Work Permit Application issued by Labuan FSA March 2015
  5. Guidelines on Fit and Proper Person Requirements issued by Labuan FSA February 2014
  6. Guidelines on the Establishment of Marketing Office issued by Labuan FSA March 2014 (3rd revision)
  7. Guidelines on Compliance Function for Licensed Entities issued by Labuan FSA November 2013
  8. Guidelines for the Establishment of Labuan Trust Companies issued by Labuan FSA September 2011
  9. Directive on Internal Audit Requirement for Labuan Trust Companies issued by Labuan FSA April 2011
  10. Internal Policy and Procedures on Business Operating Manual


LCTL has also established its own internal control for the purpose of creating value and minimising risk within the organisation. Specifically, this internal control is in the form of Policy and Procedure which is divided into two categorise

  1. Policy & Procedure covering Business Process
  2. Policy & Procedure covering Anti Money Laundering/Counter Financing Terrorism (AML/CFT)


Internal audit of LCTL which is conducted as per guidelines issued by LFSA is an independent appraisal function established by the management of LCTL for the review of the internal control system. Management of LCTL also request the internal audit for Business Process must be separately conducted from internal audit AMLCFT. This is to show our seriousness in combating any element of AMLCFT within our organisation.