Wealth One Bank of Canada

Why it is here

Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) — administrative monetary penalty (penalty $676,500; These administrative deficiencies are not related to money laundering or terrorist financing offences. The administrative monetary penalty has been paid in full by Wealth One Bank of Canada and the ca), from 15 February 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

Wealth One Bank of Canada

Authority

Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

Decision

Administrative monetary penalty

Grounds and details, as published

penalty $676,500; These administrative deficiencies are not related to money laundering or terrorist financing offences. The administrative monetary penalty has been paid in full by Wealth One Bank of Canada and the ca

From

15 February 2023

Until

—

Status

End date not published

Source

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

Licence

Public notice — FINTRAC (Government of Canada)