CanadaCanada’s Office of the Superintendent of Financial Institutions shared its 2021 to 2022 Departmental Results Report.
Canada’s Alberta Law Enforcement Response Teams announced the issuance of nationwide warrant for an individual suspected of human trafficking.
Opponent who led court challenge against public beneficial ownership owned offshore legal entities, Emirati authorities resist U.S. attempt to seize Russian yacht, and more, in the weekly roundup.
AML Penalties, Human Trafficking Reports Spike in Canada
Fines assessed by the Financial Transactions and Reports Analysis Centre of Canada from April 2021 through March 2022 more than tripled the combined value of those levied during the previous 12 months.
The Financial Transactions and Reports Analysis Centre of Canada imposed a penalty of CA$206,250 on the Vancouver, British Columbia-based real estate broker for violations of Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its related regulations.
The Financial Transactions and Reports Analysis Centre of Canada imposed a penalty on the Vancouver, British Columbia-based real estate brokerage firm for violating its anti-money laundering and counterterrorist financing obligations.
| 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 |