Penalties for non-compliance

On June 21, 2019, the Proceeds of Crime (Money Laundering) and Terrorist Financing Act was amended requiring FINTRAC to make public all administrative monetary penalties (AMPs) imposed. As a result, FINTRAC's AMP policy has been updated to reflect the change to mandatory publication at specific stages in the penalty process. Mandatory publication will apply to all AMPs imposed as of June 21, 2019.

Non-compliance with Parts 1 and 1.1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act may result in criminal or administrative penalties. Both criminal and administrative monetary penalties (AMPs) cannot be issued against the same instances of non-compliance.

Administrative monetary penalties

Since December 30, 2008, FINTRAC has legislative authority to issue an administrative monetary penalty (AMP) to reporting entities that are in non-compliance with Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

Harm done assessment guides

These guides present how FINTRAC approaches the harm done criterion and the base penalty amount for violations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act) and its regulations.

Public notice

FINTRAC must make public all administrative monetary penalties imposed.

Criminal penalties

FINTRAC may disclose cases of non-compliance to law enforcement when there is extensive non-compliance or little expectation of immediate or future compliance. Criminal penalties may include the following:

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