Vancouver Event: The AML Landscape in Canada: Changes to FINTRAC's examination process, regulatory trends and FINTRAC’s recent fines

Overview

In the past year we have seen an increased number (and some of the largest) administrative monetary penalties (AMPs) in history issued by FINTRAC. In Canada, AMPs are non-punitive, meaning they are not meant to inflict punishment. The purpose of AMPs is to encourage future compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act) and its regulations, and to promote a change in behaviour.

In this session we explore some of the main challenges in FINTRAC’s examination process and how their examination process is changing. We will also discuss regulatory trends, including sectors and areas that FINTRAC is looking at with a closer lens so reporting entities can have a better understanding of how to prepare for a successful regulatory examination and minimize the chance of AMPs.

Agenda

Registration Opens: 5:15 PM
Presentations Start: 6.00 PM
Presentation Ends: 7:00 PM
Networking Hour: 7:30 PM to 8:30 PM
Close of event: 10:00 PM

Venue

Steamworks Brewpub - Über Lounge
375 Water St.
Vancouver, BC V6B 5C6