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FINTRAC says “buh-bye” to 32 MSBs for not living up to AML requirements

FINTRAC revokes 32 registrations of money services businesses between April and September 2022 Money services businesses (MSBs) operating in Canada have legal obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act(PCMLTFA) and associated Regulations, including keeping records, verifying their clients’ identity, implementing a compliance regime, reporting certain […]

FINTRAC Enforcement Action: LaBoutique Realty Ltd.

FINTRAC imposes an administrative monetary penalty on LaBoutique Realty Ltd. FINTRAC announced today that it has imposed an administrative monetary penalty on LaBoutique Realty Ltd., also operating as LeHomes Realty First. This real estate brokerage in Vancouver, British Columbia was imposed an administrative monetary penalty of $275,385 on July 21, […]

Cannabis-related AML indicators from FINTRAC

FINTRAC publishes indicators on the laundering of proceeds from illicit cannabis in support of Project Legion News Release September 28, 2022, Ottawa Ontario FINTRAC published today its latest Operational Alert, Laundering of Proceeds from Illicit Cannabis, in support of Project Legion. This Operational Alert is meant to assist businesses subject […]

FINTRAC Enforcement Action: Cheetah Consulting Ltd.

FINTRAC imposes an administrative monetary penalty on Cheetah Consulting Ltd. News Release August 16, 2022, Ottawa Ontario FINTRAC announced today that it has imposed an administrative monetary penalty on Cheetah Consulting Ltd. This money services business in Richmond, British Columbia, was imposed an administrative monetary penalty of $33,000 on July […]