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Canada PCMLTFA
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FINTRAC hits five real estate brokerages with C$368k in AML penalties
Five firms face administrative monetary penalties after exams found gaps in AML programs and suspicious transaction reporting.
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FINTRAC publishes private-to-private information sharing guidance
Canadian government moves to close gaps in its AML regime.
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FINTRAC fines Cryptomus a record C$177m for AML/ATF violations
The agency’s director and CEO, Sarah Paquet, described the penalty as an “unprecedented enforcement action.”
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FINTRAC fines First Nations Bank of Canada C$600,000 for AML/ATF compliance failures
The agency claims the bank neglected to file STRs in 31% of cases containing at least one suspicious transaction, among other deficiencies.
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FINTRAC fines jewelry chain $264,000 for AML compliance failures
The penalty comes amidst a push by Canadian legislators for tougher AML penalties and lower thresholds for scrutiny.