FINTRAC fines KuCoin (Seychelles-based Peken Global Ltd) CAD19.5M for failing to register, report large virtual currency transactions, and file SARs under Canada’s AML/CTF laws

The company failed to register with FINTRAC, did not report large virtual currency transactions over CAD 10,000 with required details, and neglected to file suspicious transaction reports despite reasonable grounds to suspect links to money laundering or terrorist financing. FINTRAC highlighted the case as part of its broader compliance efforts…