Fintrac to review penalty program and public disclosure policies with Finance Canada

Monday, February 27, 2017

Fintrac to work with Finance Canada to review the Proceeds of Crime (Money Laundering) and Terrorist Financing Act legislation in relation to their penalty program. They will also examine their administrative monetary penalty policies to ensure, among other things, that they strike an appropriate balance between the need for transparency and the requirements of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.