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GRIP Extra: Ex Goldman partner sentenced, Republicans to limit state AI regulation
Our in-brief roundup also includes China’s new crypto ownership restrictions, Trump’s tariffs, and a multimillion dollar CIRO fine.
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Turning point as Canada secures its largest terror finance conviction
Use of crypto and crowdfunding platforms for terror funding sets new legal challenges for the digital age.
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FINTRAC fines real estate broker for AML failures
The penalty was imposed in 2024 for violations observed during a 2022 compliance examination .
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Canada tables new regulations on money laundering and terrorist financing
Canada introduces regulations to help prevent money laundering, terrorist financing, and sanctions evasion, and to strengthen beneficial ownership transparency.
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Wealth management firm fined by FINTRAC for AML failures
Lack of written policies and oversight was at the center of the enforcement action against independent firm “considered a securities dealer” by regulator.
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FINTRAC issues alert on laundering the proceeds of illicit synthetic opioids, and a few related updates
The Alert is meant to support reporting entities in recognizing financial transactions suspected of being related to the trafficking of synthetic opioids.
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FINTRAC cites Exchange Bank of Canada with AML failures
Monitoring and reporting shortcomings included not submitting SARs where there were reasonable grounds to suspect transactions were related to money laundering or terrorist financing.
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Canada’s FINTRAC and CIRO publish FY24 annual enforcement reports
Besides investigating suspicions of violations and bringing enforcement actions, FINTRAC offers tools to firms to help them mitigate money laundering and terrorist financing risks.