FINTRAC's Most Wanted
Protect your business from the next round of monetary penalties!
FINTRAC's Most Wanted is a series exploring the most common monetary penalties handed out by FINTRAC since the beginning of 2025. Each video breaks down a specific penalty, what it means for your compliance program, and how to make sure you're not next.
- 12 Failure to keep records of customer identity verification
- 11 Failure to report deposits of virtual currencies over $10,000 (LVCTR)
- 10 Failure to report electronic funds transfers at or above $10,000 (EFTR)
- 9 Failure to notify FINTRAC about a change in MSB registration status
- 8 Failure to comply with a ministerial directive
- 7 Failure to take prescribed special measures for high-risk clients
- 6 Failure to keep adequate records
- 5 Failure to maintain an ongoing compliance training program
- 4 Failure to institute and document the prescribed review
- 3 Failure to report suspicious transactions related to money laundering or terrorist financing
- 2 Failure to assess and document the risk of money laundering or terrorist activity
- 1 Failing to develop and apply written compliance policies and procedures
15,000+
Reports Filed
50+
Jurisdictions Supported
90%
Efficiency Gain through Automation