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Midweek Roundup: Fintrac Logs Record AML Fine, UAE Pressured Tracfin, and More

The Financial Transactions and Reports Analysis Centre of Canada imposed a record penalty of $177 million against Xeltox Enterprises, a cryptocurrency exchange in British Columbia, for breaching anti-money laundering requirements, ACAMS moneylaundering.com reported. More and More France's financial intelligence unit Tracfin allegedly yielded to Emirati pressure to open a tax fraud and money laundering investigation into a French lawmaker who criticized the United Arab Emirates, L'Informe reported. More Federal Reserve Board Gov. Christopher Waller said non-bank financial services companies may soon have access to the U.S. payments infrastructure, Reuters reported. More The U.K. government unveiled a plan to reassign AML...

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