MNP LLP Anti-Money Laundering Compliance Blog

Monthly Archives: November 2010

FINTRAC’s 2010 Annual Report

By Matthew McGuire | November 22nd, 2010
Last week, FINTRAC released its 10th annual report for activities in the period April 1, 2009 to March 31, 2010 – the second annual report under the watch of Director Jeanne Flemming. FINTRAC’s annual report is compelled by the PCMLTFA, and typically contains information on its disclosures, its strategic analysis, its compliance enforcement efforts, and [...]
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New US/Canada Cross-Border Cooperation for Cash Seizures

By Matthew McGuire | November 11th, 2010
Changes enacted to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) by Bill C-25 permit the Government of Canada  to enter into agreements with foreign governments for the sharing of compliance related information (such as the once announced with Australia that paves the way for penalties in multiple jurisdictions for the same [...]
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Quebec Introduces Bill 128 to Regulate MSBs, ATMs and Cheque Cashers

By Matthew McGuire | November 11th, 2010
Update (December 20, 2010): Bill 128 was passed by the Province of Quebec on December 11, 2010 and will come-into-force on a date to be announced.  Money services businesses will be given six months to register in Quebec following the date that requirement becomes effective. Some changes were made to the legislation before it was [...]
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IIROC Releases AML Guidance Document for Securities Dealers

By Matthew McGuire | November 8th, 2010
The Investment Industry Regulatory Organization of Canada (IIROC), the national self-regulatory organization responsible for oversight over all investment dealers and trading marketplaces in Canada, released its updated Anti-Money Laundering Compliance Guidance document (“Guidance”) for dealers on October 19, 2010.  We find the document to be a clear and comprehensive resource for AML compliance, which may [...]
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BC Lottery Commission Files Notice of Appeal for FINTRAC Penalty

By Matthew McGuire | November 4th, 2010
Download a copy of the Notice of Appeal here. Review our post about earlier information released about the BCLC penalty here. Also see our chart of published FINTRAC penalties.
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