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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.
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Canada’s consumer regulator fines TD bank over rebate failures
The relatively small fine is added to a list of massive penalties the beleaguered Canadian bank has recently sustained.
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TD Bank pleads guilty to AML failures, receives record-smashing $3bn+ in penalties, growth cap
“By making its services convenient for criminals, TD Bank became one,” said Attorney General Merrick B Garland.
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TD Bank’s long-running AML case – fentanyl sales link now alleged
The latest probe focuses on how Chinese crime groups used the lender to hide money derived from US fentanyl sales.