CanadaCanada amended the Special Economic Measures (Russia) Regulations to add 47 individuals and 26 entities to the sanctions list for their roles in providing military technology and expertise to Russia, or for ongoing human rights violations.
The government of Canada published a report that explores the use of artificial intelligence, or AI, by financial institutions and the four main principles for its use and regulation.
US AML Enforcement Rebounded in 2022, Though Penalties Dropped
After hitting a record low in 2021, federal enforcement of U.S. anti-money laundering rules rebounded moderately in terms of volume in 2022 but the aggregate value of AML-related regulatory penalties dropped, data compiled by ACAMS moneylaundering.com shows.
Russian man charged with helping criminals verify stolen credit-card details, Canadian gaming supervisors launch investigation, and more, in the weekly roundup.
The Financial Transactions and Reports Analysis Centre of Canada imposed a monetary penalty on the Ontario, Canada-based currency exchange for failures to comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
The Financial Transactions and Reports Analysis Centre of Canada imposed a monetary penalty of CA$33,000 against the Ontario-based financial institution for noncompliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
| 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 |