By Jeff Dale2024-05-10T19:49:00
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed a penalty of approximately 6 million Canadian dollars (U.S. $4.4 million) against crypto platform Binance Holdings Limited over alleged noncompliance with the country’s anti-money laundering/countering the financing of terrorism (AML/CFT) law.
Binance failed to register as a foreign money services business and did not report large virtual currency transactions of $10,000 or more in a single transaction together with the prescribed information, the agency announced Thursday in a press release.
The AML/CFT law is “in place to protect the safety of Canadians and the security of Canada’s economy,” said Sarah Paquet, FINTRAC director and chief executive, in the release. “… We will … be firm in ensuring that businesses continue to do their part, and we will take appropriate actions when they are needed.”
2024-12-02T22:55:00Z By Aaron Nicodemus
In striking down penalties against cryptocurrency mixer Tornado Cash for violating U.S. sanctions, a federal appeals court may have started to chip away at anti-money laundering regulations established by Democrats even before President-elect Donald Trump takes office.
2024-11-04T20:22:00Z By Aaron Nicodemus
Canada’s anti-money laundering regulator fined Toronto-based real estate firm Jones Lang Lasalle $107,827 Canadian dollars (U.S. $77,632) for six violations of its anti-money laundering rules, after discovering gaps in recordkeeping and reporting requirements for know your customer rules.
2024-05-15T17:14:00Z By Aaron Nicodemus
Canadian lawmakers will come together to discuss TD Bank’s reported failure to prevent drug traffickers from laundering proceeds of fentanyl sales on its platform.
2025-10-16T20:38:00Z By Neil Hodge
Europe’s massive financial sector has become a magnet for illicit money flowing through its banks and markets. A new EU agency will be taking the problem head-on to fight against money laundering.
2025-10-08T18:28:00Z By Adrianne Appel
Charlie Javice, a former CEO who duped JPMorgan Chase into purchasing her start up company for $175 million, has been ordered to forfeit more than $22 million by the Department of Justice (DOJ) and to spend 7 years in jail.
2025-10-07T16:08:00Z By Adrianne Appel
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
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