Proceeds of Crime (Money Laundering) and Terrorist Financing Act

The agency’s director and CEO, Sarah Paquet, described the penalty as an “unprecedented enforcement action.”

FINTRAC spells out methods for verifying the identity of persons and entities, marking a shift in Canada’s regulatory framework.

BCLC is a casino headquartered in Kamloops, British Columbia, that provides sports betting options, both in-person and online.

Monitoring and reporting shortcomings included not submitting SARs where there were reasonable grounds to suspect transactions were related to money laundering or terrorist financing.

Tony McClements says the increase in money laundering cases indicates that the UK is finally getting to grips with money laundering as an indictment.

Also known as the “Wachovia Whistleblower”, Martin Woods has been chasing bad guys since the age of 17.

Canada’s AML regulator imposes fine for non-compliance with AML rules.