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FINTRAC revokes 23 crypto MSBs registrations in a major crackdown on non-compliant exchanges, ATMs, and foreign operators to tighten anti-money-laundering and counter-terrorist financing controls

by Jyotsna Bucktowar | Mar 18, 2026

The action targets firms that failed to comply with regulatory obligations, including responding to information requests, maintaining up-to-date records, and meeting registration requirements. The move affects crypto exchanges, ATMs, and foreign operators,...

Canada’s Durham Regional Police reveals that Project Fletcher has resulted in 8 arrests in a $3M payroll‑diversion and money‑laundering fraud scheme, with 5 suspects still at large

by AdrianaAMLP | Mar 5, 2026

Investigators allege a company operations manager orchestrated a scheme lasting more than 15 years that diverted employee wages and submitted fake subcontractor invoices, defrauding a Durham Region business of over CAD $3 million between 2015 and 2021 alone. A...

FINTRAC releases a dedicated video outlining key beneficial ownership requirements to assist reporting entities in complying with Canadian AML regulations

by Jyotsna Bucktowar | Feb 25, 2026

The video outlines the essential obligations for reporting entities to identify and verify the natural persons who ultimately own or control 25% or more of a corporation, trust, or other legal entity. It emphasizes that businesses must not only obtain this...

FINTRAC imposes a $107,250 penalty on Manor Windsor Realty Ltd. for serious AML compliance lapses, exposing vulnerabilities in real estate financial crime controls

by Jyotsna Bucktowar | Feb 12, 2026

Manor Windsor Realty Ltd. was found to have committed multiple administrative breaches, including failing to maintain senior-approved, up-to-date compliance policies and procedures, properly assess and document ML/TF risks, implement an ongoing written training...

FINTRAC imposes fines on 2 MSBs: $224,235 on Commerciale I.C.–Pacific Inc. and $24,750 on TreasureMeta Corporation for AML compliance failures, including reporting deficiencies

by Jyotsna Bucktowar | Feb 7, 2026

Violations included late electronic funds transfer reporting, failure to maintain written compliance policies and procedures, inadequate risk assessment documentation, lack of required compliance reviews, and non-compliance with a Ministerial Directive. FINTRAC stated...
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Recent Posts

  • FATF publishes a targeted report on stablecoins and unhosted wallets, warning that these fast-growing crypto tools, facilitating over 80% of criminal virtual asset transactions, are fueling global ML/TF risks
  • EBA and ESMA launch a consultation to harmonise ‘fit-and-proper’ checks for senior bank and investment leaders, proposing clearer supervision, standardised suitability, and stronger AML safeguards – feedback by 25 May 2026
  • AUSTRAC publishes guidance on its new compulsory examination powers, detailing how it can require individuals or businesses to attend, answer questions, and provide documents for AML/CTF compliance
  • HMT publishes guidance on Using Digital Identities with the MLRs, clarifying that regulated firms can use certified digital identities on the DVS Register to meet AML customer due diligence requirements
  • CoLP Domestic Corruption Unit arrests the Chief Executive of the Police Federation of England & Wales and 2 senior officials on suspicion of fraud by abuse of position in a financial misconduct probe

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