FINTRAC fines five firms over C$350,000 for AML failures
Canada's anti-money laundering (AML) regulator FINTRAC has issued fines totalling over C$350,000 to five firms for multiple breaches of the Proceeds of Crime and Terrorist Financing Act.
Prevent financial crime with real-time compliance monitoring
Since COVID, financial criminals have been on a rampage. FINCEN’s recent research shows rising cases of elder financial exploitation, identity-related suspicious activity, and the explosion of the ransomware landscape. In fact, impersonation fraudsters committed cybercrimes to the tune of $893 million across 2020 and 2021 through business email compromise (BEC).
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FINRA Rule 2090
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Handling Politically Exposed Persons from a compliance perspective
In an era of heightened financial scrutiny, understanding and managing politically exposed persons (PEPs) has become a critical aspect of compliance in the securities market.
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