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FINTRAC Imposes Nearly $250,000 in Penalties as Canada Steps Up Anti-Money Laundering Enforcement
Canada’s Financial Transactions and Reports Analysis Centre, known as FINTRAC, has levied administrative monetary penalties totaling close to $250,000 against two separate organizations for serious breaches of federal anti-money laundering rules. Regulators uncovered the compliance failures during independent examinations aimed at ensuring businesses actively prevent illicit funds from moving through Canada’s financial system. The enforcement measures underline the federal go
1 day ago4 min read
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