MNP LLP Anti-Money Laundering Compliance Blog

Monthly Archives: February 2011

FINTRAC Posts its First Penalty Against a Credit Union

By Matthew McGuire | February 21st, 2011
On February 18, 2011, FINTRAC published a $37,090 Administrative Monetary Penalty against Peoples Credit Union Limited, a savings and credit union in Innisfil, Ontario for nine violations.  Those violations involved failures to: develop and apply up-to-date policies and procedures approved by a senior officer; to take prescribed measures for high risk activities; report prescribed electronic [...]
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Webinar Invitation: The Legal Framework for MSBs Doing Business in Canada

By Matthew McGuire | February 11th, 2011
New federal and provincial legislation have significant implications for electronic payment companies and other money services businesses (MSBs) operating in Canada or serving those in Canada. Your are cordially invited to attend the a free webinar targeted to helping money services businesses (MSBs) build, improve and shape their regulatory compliance programs – particularly with respect [...]
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Credit Union Helps New Canadians Support Their Families

By Matthew McGuire | February 7th, 2011
Luminus Financial Services & Credit Union has developed new payment and treasury services for Money Services Businesses (MSBs), supported by financial services compliance experts Williams McGuire AML Inc.
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