CanadaThe Financial Transactions and Reports Analysis Centre of Canada published revised guidance on anti-money laundering and counterterrorist financing risk assessments for reporting entities.
Jeremy Rudin, Canada’s Superintendent of Financial Institutions issued remarks at the 2021 RBC Capital Markets Canadian Bank CEO Conference on effective regulation and supervision of financial institutions, including a focus on technology risks and the pandemic response.
Weekly Roundup: FinCEN Fines Capital One, US Far-right Accepted Foreign Cryptocurrency, and More
Federal lawmaker wants beneficial owners behind Capitol riot identified, senior Commerzbank executive claims Wirecard fraudulently obtained loans, and more, in the weekly roundup.
Lockdowns, Legal Changes and Leak Fatigue: the Year in AML
In the waning days of 2019, when news emerged that the novel coronavirus had begun spreading beyond Wuhan, China, few grasped the scale of the human tragedy, economic catastrophe and inspiring resilience that the coming year would witness.
The Financial Transactions and Reports Analysis Centre of Canada imposed an administrative penalty of CA$206,250 on the Montreal, Canada-based money services business for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
The Financial Transactions and Reports Analysis Centre of Canada received payment for an administrative monetary penalty issued against the Montreal, Quebec-based lottery company for deficiencies under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and related regulations.
| Technical | Effectiveness |
|---|---|
| Compliant : 11 | High : 0 |
| Largely Compliant : 18 | Substantial : 5 |
| Partially Compliant : 6 | Moderate : 5 |
| Non-Compliant : 5 | Low : 1 |
| Rank : 94/141 |
| Score : 4.68/10 |
| Rank : 12/180 |
| Score : 77/100 |
| Rank : 19/133 |
| Score : 56/100 |