Regulator penalizes Montreal firm for violations of AML rules
FINTRAC and OSFI are redistributing AML responsibilities
FINTRAC says pandemic is upending traditional money laundering
The new guidance, which takes effect in June, will reflect recent changes to AML obligations
Registration is voluntary ahead of mandatory requirements taking effect
As of June, the agency must publish penalties and violations
The move is intended to reduce the compliance burden for IIROC firms
Alert includes guidance to help financial firms identify possible victims
This is the first memorandum with a real estate body
FINTRAC updates beneficial ownership requirements guidance