Firms such as banks and securities dealers involved in real estate transactions are vulnerable to being exploited to enable money laundering
Securefact’s new SIDni ID verification tool meets FINTRAC’s updated guidelines for customer-not-present ID verification
Updated laws provide more options to verify a client's identity, but also make monitoring more accounts necessary
Many startups may not realize they are required to register with the anti money-laundering agency
The compliance guide aims to help firms implement effective measures to address money laundering risks
Revised guidance incorporates the “significant enhancements” to protect banks
Senior executives at financial firms would need to certify the adequacy of their systems to combat money laundering and terrorist financing
There are several reasons why the use of bitcoin to fund illegal activities, such as terrorist operations, is not a major factor at this time
Compliance deficiencies found at money services business
The bank has 60 days to submit a plan for enhancing oversight