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Real Estate Broker fined CAD101,227 by FINTRAC

FINTRAC imposes an administrative monetary penalty on 9293-0809 Québec Inc. News Release May 10, 2022, Ottawa Ontario FINTRAC announced today that it has imposed an administrative monetary penalty on 9293-0809 Québec Inc., also operating as Groupe Sam’s Globale. This real estate broker in Montréal, Quebec, was imposed an administrative monetary penalty of $101,227 on […]

Yesterday, an ANPRM – today, a NPRM…

FinCEN Issues Proposed Rule for Beneficial Ownership Reporting to Counter Illicit Finance and Increase Transparency Contactpress@fincen.govImmediate ReleaseDecember 07, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today issued a Notice of Proposed Rulemaking (NPRM) to implement the beneficial ownership information reporting provisions of the Corporate Transparency Act (CTA). The proposed rule is designed […]

New FinCEN process for UBO reporting requirement

FinCEN Launches Regulatory Process for New Beneficial Ownership Reporting Requirement Contact Office of Strategic Communications, 703-905-3770 Immediate Release April 01, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a wide range of questions related to the implementation of the beneficial […]

OCC CDD and Beneficial Ownership Requirements for Legal Entity Customers

  OCC BULLETIN 2018-12 Subject: Bank Secrecy Act/Anti-Money Laundering Date: May 11, 2018  To: Chief Executive Officers of All National Banks and Federal Savings Associations, Federal Branches and Agencies, Department and Division Heads, All Examining Personnel, and Other Interested Parties Description: Customer Due Diligence and Beneficial Ownership Requirements for Legal Entity […]

May 16, 2018: tweak, tweak, tweak goes FinCEN…

 RULING FIN-2018-R002 Issued: May 16, 2018 Subject: Beneficial Ownership Requirements for Legal Entity Customers of Certain Financial Products and Services with Automatic Rollovers or Renewals The Financial Crimes Enforcement Network (FinCEN) is issuing this ruling to provide a 90-day limited exceptive relief to covered financial institutions from the obligations of […]