Canadian Imperial Bank of Commerce (CIBC)

Why it is here

Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) — administrative monetary penalty (penalty $1,329,150; 2 violations of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act; this penalty was imposed for administrative violations committed by CIBC under the Proceeds of Crime (Money Laundering) and Terrorist ), from 23 October 2023.

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

Canadian Imperial Bank of Commerce (CIBC)

Authority

Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

Decision

Administrative monetary penalty

Grounds and details, as published

penalty $1,329,150; 2 violations of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act; this penalty was imposed for administrative violations committed by CIBC under the Proceeds of Crime (Money Laundering) and Terrorist

From

23 October 2023

Until

—

Status

End date not published

Source

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

Licence

Public notice — FINTRAC (Government of Canada)