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FINTRAC Imposes Major Penalty on Necosmart Over Serious Anti-Money Laundering Compliance Failures
The Financial Transactions and Reports Analysis Centre of Canada has announced a major enforcement action against Necosmart, issuing an administrative monetary penalty totaling 693,742.50 dollars following the discovery of extensive compliance deficiencies within the company’s anti-money laundering controls. The sanction, finalized on March 27, 2026, underscores the growing intensity of regulatory oversight directed at money services businesses operating across Canada. Accord
5 hours ago5 min read
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