February 4, 2023

The saga of the unnamed bank: FinTRAC statement

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By NORTON ROSE FULBRIGHT From ILO Banking Canada In April 2016 Canadian news media reported that the Financial Transactions Reports Analysis Centre (FinTRAC) had levied a penalty of over C$1 million against an unnamed Canadian bank for certain violations of its anti-money laundering requirements. Since then, FinTRAC has faced criticism from the public and the […]