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FINTRAC Compliance Insights

Stay informed about the latest FINTRAC enforcement actions, regulatory changes, and compliance best practices for Canadian MSBs and reporting entities.

FINTRAC Guidance

FINTRAC Two-Year Effectiveness Review: What It Must Test, Who Can Conduct It, and What a Missing One Costs

A FINTRAC penalty published in July 2026 carried a single violation: the two-year effectiveness review had not been done. What section 156 of the Regulations requires, how the 24-month clock is measured, who can conduct the review, the four harm levels FINTRAC uses to grade a deficient one, and eight questions to answer before your next review starts.

September 16, 2026

Comply+ Team

9 min read

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Regulatory Update

What Happens After a FINTRAC Examination in 2026: Findings, Mandatory Compliance Agreements, and Compliance Orders

FINTRAC scopes examination review periods to fall entirely within one legislative framework, so examinations scoped now sit under the amended Bill C-12 penalties regime. Paying a penalty no longer closes the file. What reporting entities should expect from findings, mandatory compliance agreements, and compliance orders, plus seven readiness tests.

September 11, 2026

Comply+ Team

9 min read

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FINTRAC Enforcement

FINTRAC Casino Sector Penalties: Nova Scotia Gaming and New Brunswick Lotteries and Gaming Fined a Combined $631,538.50

FINTRAC imposed administrative monetary penalties on Nova Scotia Gaming Corporation ($231,826) and the New Brunswick Lotteries and Gaming Corporation ($399,712.50) for unreported suspicious transaction reports, with Ministerial Directive and risk assessment findings in Nova Scotia. Practical AML lessons for casino and online gaming compliance teams.

September 4, 2026

Comply+ Team

9 min read

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FINTRAC Guidance

FINTRAC Iran Ministerial Directive Update: Reporting and High-Risk Controls for Reporting Entities

FINTRAC updated guidance, reporting form instructions, and technical documentation related to the Ministerial Directive on the Islamic Republic of Iran. Practical AML lessons for high-risk treatment, IR2020 reporting, source and purpose capture, and STR review.

June 26, 2026

Comply+ Team

9 min read

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FINTRAC Guidance

FINTRAC Mortgage Sector Scenarios: Compliance Lessons for Brokers, Lenders, and Administrators

FINTRAC published mortgage-sector scenarios for brokers, lenders, and administrators. Practical AML lessons for role-specific records, renewal refreshes, receipt of funds, beneficial ownership, third-party checks, and STR escalation.

June 19, 2026

Comply+ Team

9 min read

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Case Study

ASC JSOT Crypto Investment Fraud Charges: AML Lessons from a FINTRAC-Assisted Securities Case

A FINTRAC-listed Alberta Securities Commission and RCMP JSOT release described Securities Act charges involving alleged crypto-related investment fraud, investor funds, regulatory undertakings, and FINTRAC assistance. Practical AML lessons for reporting entities.

June 17, 2026

Comply+ Team

8 min read

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FINTRAC Guidance

FINTRAC Sports and Entertainment Bulletin: AML Lessons for Human Trafficking Risk

FINTRAC published Special Bulletin FINTRAC-2026-SB003 on human trafficking risks associated with major international sporting and entertainment events. Practical AML lessons for reporting entities handling event-period indicators, Project Protect STRs, payroll anomalies, cash activity, and third-party control.

June 10, 2026

Comply+ Team

9 min read

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Case Study

Project Anchor: AML Lessons from a FINTRAC-Assisted Human Trafficking Investigation

A FINTRAC-listed Regina Police Service release described Project Anchor, a multi-agency human trafficking investigation involving proceeds of crime and money laundering charges, cross-jurisdictional collaboration, and FINTRAC assistance.

June 3, 2026

Comply+ Team

8 min read

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Case Study

CERB Cyber-Enabled Fraud Charges: AML Lessons from Account Takeover and Payment Redirection

A FINTRAC-listed RCMP release described alleged CERB fraud involving unauthorized CRA account access, changed banking details, redirected payments, and FINTRAC support. Practical AML lessons for reporting entities handling account-change and payment-redirection risk.

May 27, 2026

Comply+ Team

8 min read

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Case Study

Peel Extortion Task Force: AML Lessons from a FINTRAC-Assisted Investigation

A FINTRAC-listed Peel Regional Police release described 17 arrests, 106 charges, targeted extortion against South Asian businesses and community members, and FINTRAC assistance. Practical AML lessons for reporting entities handling extortion indicators.

May 26, 2026

Comply+ Team

8 min read

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Case Study

Winnipeg Drug Seizure: AML Lessons from a FINTRAC-Assisted Proceeds of Crime Case

A FINTRAC-listed Winnipeg Police Service release described a major interprovincial drug investigation with proceeds of crime charges, approximately $825,000 in currency seized, commercial transport indicators, and FINTRAC collaboration. Practical AML lessons for reporting entities.

May 22, 2026

Comply+ Team

8 min read

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Case Study

RCMP CEWS Fraud Charges: AML Lessons from a FINTRAC-Assisted Cyber-Enabled Case

A recent RCMP case listed on FINTRAC news connects compromised business credentials, alleged CEWS fraud, identity information, and laundering proceeds of crime charges. Practical AML lessons for reporting entities handling fraud-to-STR escalation.

May 20, 2026

Comply+ Team

8 min read

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FINTRAC Enforcement

FINTRAC Penalty on Necosmart: STR Failures, High-Risk Controls, and Virtual Currency Records

FINTRAC imposed a $693,742.50 Administrative Monetary Penalty on Edmonton MSB 13010431 Canada Inc., operating as Necosmart. The case is a useful advisory for MSBs on STR escalation, high-risk controls, risk assessment, and virtual currency exchange records.

May 14, 2026

Comply+ Team

9 min read

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Regulatory Update

FINTRAC's New AMP Framework Under Bill C-12: Higher Penalties, Compliance Orders, and Ability to Pay

FINTRAC published its May 6, 2026 update on how it will implement Bill C-12 changes to the administrative monetary penalties framework, including higher maximums, compliance orders, mandatory compliance agreements, and ability-to-pay criteria.

May 6, 2026

Comply+ Team

8 min read

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FINTRAC Enforcement

FINTRAC Penalty on RE/MAX Twin City Realty: Documented Risk Assessment Matters

FINTRAC imposed a $24,750 Administrative Monetary Penalty on RE/MAX Twin City Realty Inc. (Twin City Realty Inc.) after a compliance examination found failure to assess and document ML/TF risk across its Ontario branches.

May 5, 2026

Comply+ Team

8 min read

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FINTRAC Enforcement

FINTRAC Penalty on VersaBank: Policies, High-Risk Measures, and Lessons for Financial Entities

FINTRAC imposed a $42,075 Administrative Monetary Penalty on VersaBank after a compliance assessment found gaps in written AML policies and procedures and failure to apply special measures for high-risk clients.

May 5, 2026

Comply+ Team

9 min read

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FINTRAC Enforcement

FINTRAC Penalty on Birks Group: Compliance Program Gaps for Jewellery and DPMS Retail

FINTRAC imposed a $51,562.50 Administrative Monetary Penalty on Birks Group Inc. (Birks) for gaps in written policies and procedures, documented ML/TF risk assessment, and biennial auditor-led effectiveness reviews.

May 5, 2026

Comply+ Team

10 min read

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Regulatory Update

FINTRAC Modernization 2026: PCMLTFA Changes, AMP Rules, and the Official Reporting Entity Roadmap

The FINTRAC modernization page summarizes new AMP tools, compliance program standards, stablecoin issuer registration, universal enrolment, and phased coming-into-force dates. Practical notes for Canadian reporting entities, with a link to the official FINTRAC source.

April 16, 2026

Comply+ Team

11 min read

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Regulatory Update

Bill C-2 Tightens FINTRAC Reporting: More Obligations, Jail Exposure for Non-Compliance, and Much Bigger Fines

Updated April 2026: Bill C-12 (Royal Assent March 26, 2026) now carries PCMLTFA and AMP updates FINTRAC cites, in place of earlier Bill C-2 commentary. Border and immigration aspects are debated separately from AML; see the post for Romero House context.

April 16, 2026

Comply+ Team

10 min read

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FINTRAC Enforcement

FINTRAC Penalizes Northern Isga Foundation $91,162 for Casino Compliance Program Failures

All four violations target the compliance program itself: policies, risk assessment, training, and effectiveness review. Here's what casino operators and other reporting entities need to know.

March 26, 2026

Comply+ Team

8 min read

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FINTRAC Enforcement

FINTRAC Penalty on Manor Windsor Realty: A Clear Warning to Real Estate Brokers

FINTRAC’s $107,250 Administrative Monetary Penalty against Manor Windsor Realty Ltd. in Windsor, Ontario signals heightened AML expectations for real estate brokerages across Canada.

February 12, 2026

Comply+ Team

10 min read

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FINTRAC Enforcement

FINTRAC Penalty on Century 21 Heritage Group: A Clear Warning to Real Estate Brokers

FINTRAC has imposed a $148,912.50 Administrative Monetary Penalty on Century 21 Heritage Group Ltd. This case sends a strong message to real estate brokerages about suspicious transaction reporting and AML compliance in Canada.

February 10, 2026

Comply+ Team

10 min read

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FINTRAC Enforcement

FINTRAC Penalty on TreasureMeta (Cappo FX): A Clear Warning to Canadian MSBs

On February 5, 2026, FINTRAC announced a $24,750 Administrative Monetary Penalty against TreasureMeta Corporation (Cappo FX Inc.), a Markham, Ontario MSB, for failing to update its MSB registration information. Here’s why this seemingly narrow breach is a serious warning for all Canadian money services businesses.

February 5, 2026

Comply+ Team

10 min read

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FINTRAC Enforcement

FINTRAC Penalty on Commerciale I.C. - Pacific Inc.: A Clear Warning to MSBs

FINTRAC’s $224,235 Administrative Monetary Penalty against Montréal MSB Commerciale I.C. - Pacific Inc. highlights critical gaps in AML compliance in Canada and key lessons for all money services businesses.

February 5, 2026

Comply+ Team

10 min read

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FINTRAC Enforcement

FINTRAC Penalty on MP Technology Services Ltd.: A Clear Warning to Foreign MSBs

FINTRAC has imposed a $536,853.35 Administrative Monetary Penalty on MP Technology Services Ltd., a Seychelles-incorporated foreign MSB operating in Canada. Here’s what it means for MSB compliance.

December 18, 2025

Comply+ Team

10 min read

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Regulatory Update

CBSA Auto Theft Export Case: A Clear Warning to Dealers and Export Enablers

The CBSA’s December 17, 2025 auto theft export case, with organized crime and money laundering charges laid, is a critical warning to Canadian auto dealers, logistics firms, and export enablers about AML compliance and FINTRAC reporting expectations.

December 17, 2025

Comply+ Team

10 min read

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FINTRAC Enforcement

FINTRAC Penalty on Juba Express Inc.: A Clear Warning to Canadian MSBs

FINTRAC has imposed a $67,150 Administrative Monetary Penalty on Toronto MSB Juba Express Inc. for multiple AML compliance failures. Here’s what this means for MSB compliance in Canada.

December 11, 2025

Comply+ Team

10 min read

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FINTRAC Enforcement

FINTRAC Penalty on Griffin Jewellery Designs: A Warning for DPMS Compliance

FINTRAC has imposed a $77,137.50 Administrative Monetary Penalty on Griffin Jewellery Designs Inc., a 21-location jewellery retailer, sending a clear warning to Canada’s DPMS sector.

December 4, 2025

Comply+ Team

10 min read

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FINTRAC Enforcement

FINTRAC Penalty on Global Currency Exchange: Compliance Failures and What MSBs Must Learn From This Case

On December 2, 2025, FINTRAC announced a $70,537.50 penalty against Global Currency Exchange (2294235 Ontario Inc.) for multiple compliance violations. This case highlights common—and preventable—compliance failures that continue to trigger enforcement actions nationwide.

December 2, 2025

Comply+ Team

12 min read

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FINTRAC Enforcement

FINTRAC Penalty on Synergy Credit Union: What Went Wrong — and What It Means for Canadian Financial Institutions

On November 27, 2025, FINTRAC announced that Synergy Credit Union was hit with an administrative monetary penalty of $214,500. The violations highlight recurring issues around risk assessment, suspicious transaction reporting, and high-risk mitigation measures.

November 27, 2025

Comply+ Team

10 min read

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Regulatory Update

FINTRAC Stablecoin Issuer Obligations: What Tether, USDC, and Other Issuers Need to Know About Canada's Upcoming Stablecoin Act

Canada's Stablecoin Act will require stablecoin issuers like Tether, USDC, and Paxos to comply with FINTRAC reporting, AML obligations, and direct redemption requirements. Learn what global issuers must prepare for.

November 17, 2025

Comply+ Team

14 min read

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FINTRAC Enforcement

FINTRAC Issues Record $176.9 Million Penalty to Xeltox Enterprises (Cryptomus) — a Compliance Case Designed to Send a Message

FINTRAC has issued one of the most severe enforcement actions in its history — a $176,960,190 administrative monetary penalty against Xeltox Enterprises Ltd., operating as Cryptomus, for 2,593 violations across six categories.

October 22, 2025

Comply+ Team

12 min read

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FINTRAC Enforcement

FINTRAC Fines First Nations Bank of Canada $601,139.80 for AML Compliance Failures

First Nations Bank of Canada faces a $601,139.80 penalty for multiple AML compliance violations including failure to submit STRs, inadequate policies, and poor ongoing monitoring—one of the largest penalties of 2025.

October 16, 2025

Comply+ Team

9 min read

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FINTRAC Enforcement

FINTRAC Fines DMCL Chartered Professional Accountants $72,750 for AML Compliance Failures

DMCL Chartered Professional Accountants faces a $72,750 penalty for failing to maintain proper AML compliance policies, risk assessments, and effectiveness reviews: a warning for all professional services firms subject to FINTRAC oversight.

October 9, 2025

Comply+ Team

7 min read

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Case Study

Human Trafficking Arrest in the GTA: How FINTRAC Reporting Helped Break the Case

Halton Regional Police arrested a suspect in an 18-month human trafficking investigation, with FINTRAC financial intelligence playing a crucial role in providing evidence that supported the charges.

October 2, 2025

Comply+ Team

6 min read

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FINTRAC Enforcement

FINTRAC Fines HRA Group Holdings $132,000: A Wake-Up Call for Dealers in Precious Metals and Stones

HRA Group Holdings, a Vancouver-based dealer in precious metals and stones, was fined $132,000 by FINTRAC for four serious compliance violations, highlighting common gaps in AML programs across Canada's DPMS sector.

October 2, 2025

Comply+ Team

7 min read

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Regulatory Update

FINTRAC Failure to Report Penalties: $1–$500,000 Fines for MSBs in 2025

FINTRAC penalties for MSBs who fail to report: $1–$1,000 minor, $1–$100,000 serious, up to $500,000 for very serious violations. Know the real numbers.

October 1, 2025

Comply+ Team

8 min read

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FINTRAC Enforcement

FINTRAC Hits KuCoin (Peken Global Limited) with $19.5M Penalty: A Turning Point for Crypto Compliance in Canada

KuCoin faces the largest FINTRAC penalty in history—$19.5M—for operating without registration and failing to report thousands of suspicious crypto transactions. This landmark case signals a new era of crypto enforcement in Canada.

September 25, 2025

Comply+ Team

9 min read

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FINTRAC Enforcement

FINTRAC Reporting, Compliance Failures, and the Rise of FINTRAC API Solutions: Lessons from the Spence Diamonds $264,000 Penalty

On September 23, 2025, FINTRAC imposed a $264,000 penalty on Spence Diamonds Ltd. for significant compliance failures. This case highlights the critical importance of automated FINTRAC reporting and proper AML compliance programs.

September 23, 2025

Comply+ Team

8 min read

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FINTRAC Enforcement

FINTRAC Reporting Failures at Primary Capital Inc.: $93,390 Penalty Shows the Cost of Compliance Gaps

Primary Capital Inc., a securities dealer, faces a $93,390 FINTRAC penalty for compliance policy failures, missing risk assessments, and inadequate PEP screening. This case highlights critical compliance requirements for securities dealers.

September 18, 2025

Comply+ Team

6 min read

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FINTRAC Enforcement

FINTRAC Reporting Failures at CNE Casino: $199,000 Penalty Underscores the Importance of Risk Assessments and Compliance Reviews

CNE Casino faces a $199,000 FINTRAC penalty for failing to document risk assessments and compliance reviews. This case demonstrates the critical importance of proper documentation in AML compliance programs.

September 4, 2025

Comply+ Team

7 min read

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