by AdrianaAMLP | May 6, 2026
The case involves violations identified through FINTRAC’s supervisory activities, including failures linked to reporting and compliance control requirements designed to detect and prevent illicit financial activity. Publication of the penalty forms part of FINTRAC’s...
by Jyotsna Bucktowar | May 5, 2026
The regulator identified that the bank had outdated compliance policies and procedures that were not properly maintained or approved, and failed to apply enhanced due diligence and special measures for high-risk clients, both of which are key requirements in a...
by Jyotsna Bucktowar | May 5, 2026
The regulator found that Birks did not maintain properly developed or regularly updated written compliance policies approved by senior management, failed to adequately assess and document money laundering and terrorist financing risks, and did not complete the...
by AdrianaAMLP | Apr 23, 2026
The bulletin responds to a marked increase in extortion-related activity, with financial intelligence disclosures identifying hundreds of subjects and tens of thousands of transactions linked to organised crime networks. Guidance supports reporting entities in...
by Jyotsna Bucktowar | Apr 8, 2026
These included failures to develop and maintain an adequate risk assessment, implement effective written compliance policies and procedures, provide ongoing staff training, and conduct the required effectiveness review of its compliance framework. The case highlights...
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