CanadaCanada’s Office of the Superintendent of Financial Institutions announced that the Financial Transactions and Reports Analysis Centre of Canada will become the primary agency conducting anti-money laundering-related assessments of financial institutions.
The finance ministers and central bank governors of the G7 member countries issued a joint statement on the widespread adoption of digital payments, highlighting risks related to financial stability, consumer protection, taxation, cybersecurity, money laundering and terrorist financing.
Coronavirus Pandemic Fueling Suspicious Transactions in Canada
Canada’s financial intelligence unit received an average of 8,000 suspicious transaction reports, or STRs, per week from April to August of this year, marking a 25 percent jump over the same period in 2019, a senior official said Tuesday.
Banks and governments wary of cryptocurrency’s AML risks, EU to start infringement proceedings against three members’ ‘golden visa’ schemes, and more, in the midweek roundup.
The Financial Transactions and Reports Analysis Centre of Canada issued an administrative monetary penalty against the Ontario, Canada-based precious metals and stones dealer for committing three violations related to anti-money laundering and counterterrorist financing requirements.
The Financial Transactions and Reports Analysis Centre of Canada issued an administrative monetary penalty against the Quebec, Canada-based real estate broker for committing five violations in relation to anti-money laundering and counterterrorist financing requirements.
| Technical | Effectiveness |
|---|---|
| Compliant : 11 | High : 0 |
| Largely Compliant : 18 | Substantial : 5 |
| Partially Compliant : 6 | Moderate : 5 |
| Non-Compliant : 5 | Low : 1 |
| Rank : 79/125 |
| Score : 4.92/10 |
| Rank : 12/180 |
| Score : 77/100 |
| Rank : 19/133 |
| Score : 56/100 |