How FINTRAC Monitors and Prevents Illegal Financial Activities

Discover how FINTRAC, Canada’s financial intelligence unit, safeguards the economy by monitoring transactions to thwart ...

Brokerages fined for failing to monitor potential money laundering

Heavy fines against real estate brokerages for violating federal anti-money laundering rules have many in the industry questioning whether their existing systems and training comply with the law.
Finextra

AI vs Rules-Based Transaction Monitoring: Why a Hybrid Approach Wins

Fraud in payments is growing more sophisticated, forcing payment service providers (PSPs) to rethink their defenses. Today’s fraudsters are even leveraging AI tools to scale attacks and evade ...
JD Supra

Sanctions Evasion: Canada Takes Aim with New FINTRAC Reporting Requirements for Reporting Entities

Reporting entities under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) will soon be subject to a new requirement to report transactions suspected to be related to ...
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Dramatic increase in FINTRAC fines coming, but their effectiveness is less clear

TORONTO — The cost of doing business is set to go up, dramatically, for companies that don’t keep a close eye on anti-money laundering obligations. A broad range of firms that handle large ...