As of mid-2026

FINTRAC's Most Wanted

Failure to assess and document the risk of money laundering or terrorist activity

Welcome back, we've reached the silver medal of common compliance pitfalls here in Canada.

Number two on our FINTRAC's Most Wanted countdown is, "Failure to assess and document the risk of money laundering or terrorist activity."

Since the beginning of 2025, 15 companies have been penalized for this.

This means that nearly half of all FINTRAC notices involved a firm that couldn't explain how they determined if a client was risky.

The trap here is thinking that risk assessment is just a gut feeling or simple checkbox.

FINTRAC expects a documented repeatable formula and they want to see how you weigh your products, your jurisdictions, your client types, etc.

So if you're onboarding people and businesses without a configurable risk score that you can actually defend during an audit you're inviting a penalty.

At Rhizome we take the guesswork out of the equation.

We provide risk assessment tools that let you apply a precise configurable formula for every person and business that you onboard.

You define the weight for specific jurisdictions, product types, prior alerts, etc.

Our system calculates risk levels automatically creating a documented trail that shows the regulator exactly why you made the decisions you did.

We turn a complex regulatory requirement into a standard part of your onboarding.

If you can't show your work it doesn't count!

Reach out to us to see how we can help with your risk assessment process.