As of mid-2026

FINTRAC's Most Wanted

Failure to report suspicious transactions related to money laundering or terrorist financing

Welcome back! We're on the podium now with our FINTRAC's Most Wanted monetary penalties.

Coming in at number three is: "Failure to report suspicious transactions related to money laundering or terrorist financing."

Since 2025, 12 companies were hit with this, and this isn't just an admin error. This is a systemic core mission failure.

Why is this so common? Because filing a suspicious transaction report or STR is kind of hard.

There's a lot of investigation involved, there's gathering report data from disparate sources, there's a lot of data entry, there's a bit of a creative writing exercise in the form of the narrative, and you have to identify the right indicators or triggers for what's considered suspicious, write it up, and then navigate a filing portal that feels like it was from the late '90s.

Because this process is painful and time consuming reports get delayed, reports get missed, and eventually you're looking at a violation for failure to report.

At Rhizome we made STRs a core competency — we rebuilt the entire process to be faster than anything you've seen.

Our system guides you through configurable steps, helps you choose the exact indicators that regulators need to see, for any jurisdiction, and we even generate narrative drafts for you.

We allow you to escalate a simple alert or threshold report to a full STR in seconds and you can file it with one click.

We turn hours of manual work into streamlined workflows so you never miss a deadline.

Since we've been around we've made a name for ourselves for remediation. If you have a stack of STRs sitting around that you should have filed or an audit uncovers a bunch of things that you missed, get in touch with us and we can bulk file those STRs and clear the roadmap for your team so you can move on to more important compliance tasks.

Reach out to us to see how we can help streamline your STR process.