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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 ramps up: insights from the 2024-5 annual report
Canada’s anti-money-laundering and terrorist financing watchdog significantly increased its activity over the last year.
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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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GRIP Extra: EU to trim environmental due-diligence law, US shutdown disrupts agency workflows
Our in-brief roundup of notable stories from the last week.
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Canada’s October 1 AML rules now in effect
Expanded obligations cover MSB agent vetting, beneficial ownership discrepancy reporting, new reporting entities, and an updated sanctioned property report regime.
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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.
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Canada seizes $56m in crypto from TradeOgre exchange
The seizure underscores the risks of using unregulated exchanges and why KYC compliance is an essential component of managing such platforms.