CanadaThe Group of 7 published a report outlining common public policy principles for establishing retail central bank digital currencies, covering a range of important matters related to financial stability, cybersecurity, inclusion and tackling illicit finance.
The finance ministers and central bank governors of the Group of 7 member countries issued a statement on central bank digital currencies and digital payments, highlighting the importance of international cooperation to ensure common regulatory standards.
Financial Crime Matters: Former Canadian Intelligence Official Dives Deep into Terror Finance
In this episode of Financial Crime Matters, Kieran Beer of ACAMS moneylaundering.com and Jessica Davis, a former senior strategic analyst for the Canadian Security Intelligence Service, discuss her recently released book, “Illicit Money: Financing Terrorism in the 21st Century.”
Midweek Roundup: FinCEN Fines BitMEX, SEC Penalizes Poloniex, and More
Ex-OCC director resigns as head of Binance’s U.S. operations, New Zealand dings Westpac for subpar reporting of suspicious transactions, and more, in the midweek roundup.
The Financial Transactions Reports and Analysis Centre of Canada issued an administrative monetary penalty against the Montréal, Quebec-based money services business for failure to comply with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, and related regulations.
The Financial Transaction Reports and Analysis Centre issued an administrative penalty against the Montréal, Canada-based real estate broker for failure to comply with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, and associated regulations.
| 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 : 94/141 |
| Score : 4.68/10 |
| Rank : 11/179 |
| Score : 77/100 |
| Rank : 19/133 |
| Score : 56/100 |