Exchange Bank of Canada

Why it is here

Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) — administrative monetary penalty (penalty $2,457,750; 3 violations of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act; this penalty was imposed for violations committed by Exchange Bank of Canada under the Proceeds of Crime (Money Laundering) and Terror), from 5 November 2024.

Administrative monetary penalty imposed by FINTRAC, Canada's financial intelligence unit, for violations of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act — the anti-money-laundering duties of banks, casinos, real estate, money services and other reporting businesses.

Details

Company

Exchange Bank of Canada

Authority

Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

Decision

Administrative monetary penalty

Grounds and details, as published

penalty $2,457,750; 3 violations of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act; this penalty was imposed for violations committed by Exchange Bank of Canada under the Proceeds of Crime (Money Laundering) and Terror

From

5 November 2024

Until

—

Status

End date not published

Source

https://fintrac-canafe.canada.ca/pen/4-eng

Licence

Public notice — FINTRAC (Government of Canada)