CanadaThe Financial Transactions and Reports Analysis Centre of Canada issued a statement to announce a modernization initiative aimed at strengthening anti-money laundering and counterterrorist financing efforts.
The Alberta Securities Commission announced charges against a Calgary resident for her role in a money laundering and investment fraud scheme.
U.K. chancellor opposes FCA’s name-and-shame strategy, Austrian regulators warn Raiffeisen Bank, and more, in the midweek roundup.
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EU lawmakers approve sweeping AML reforms, Dutch finance minister criticizes banks’ intelligence-sharing plan, and more, in the midweek roundup.
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Canadian Officials Unveil Raft of AML Proposals
The Financial Transactions and Reports Analysis Centre of Canada penalized the Toronto, ON-based bank for failure to comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, and related regulations.
The Registrar of the Alcohol and Gaming Commission of Ontario ordered the Niagara Falls, Canada-based registered operator of Fallsview Casino Resort to pay a CA$70,000 fine for anti-money laundering violations and other compliance failures.
| Technical | Effectiveness |
|---|---|
| Compliant : 11 | High : 0 |
| Largely Compliant : 23 | Substantial : 5 |
| Partially Compliant : 5 | Moderate : 5 |
| Non-Compliant : 1 | Low : 1 |
Canada's technical compliance was re-rated in a Oct. 1, 2021 follow-up report
| Rank : 34/110 |
| Score : 4.67/10 |
| Rank : 11/179 |
| Score : 77/100 |
| Rank : 19/133 |
| Score : 56/100 |