Article
Common FINTRAC Deficiencies: What Reporting Entities Should Avoid
FINTRAC's 2026 Industry Day webinar revealed critical compliance deficiencies across Canada's AML/ATF framework, highlighting gaps in risk assessment, ongoing monitoring, training programs, and effectiveness reviews. The presentation emphasized that reporting entities must demonstrate not only that compliance controls exist on paper, but that they are current, consistently applied, risk-based, appropriately documented, and tested in practice. These observations carry significant implications for financial i
McCarthy Tétrault LLP