Tag Archives: Proceeds of Crime (Money Laundering) and Terrorist Financing Act

Comes out in the wash: Why complying with Canada’s anti-money laundering rules makes good business sense

It’s not often Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) makes national headlines, but it did just that in April. The story referred to a controversial decision not to release the name of a bank fined more than $1 million for various infractions under Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).

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