- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-11-04T20:22:00
Canada’s anti-money laundering regulator fined Toronto-based real estate firm Jones Lang Lasalle $107,827 Canadian dollars ($77,632) for six violations of its anti-money laundering rules, after discovering gaps in recordkeeping and reporting requirements for know your customer rules.
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) announced the fine, saying that JLL violated Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated regulations.
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The Financial Transactions and Reports Analysis Centre of Canada imposed a penalty of approximately CAD$6 million (U.S. $4.4 million) against crypto platform Binance over alleged noncompliance with the country’s anti-money laundering/countering the financing of terrorism law.
The Financial Transactions and Reports Analysis Centre of Canada fined TD Bank nearly CAD$9.2 million (U.S. $6.7 million) for failing to comply with its anti-money laundering regulations.
The Canadian Imperial Bank of Commerce received the second penalty for alleged deficiencies regarding suspicious transaction reporting announced this week by Canada’s financial intelligence agency.
VyStar credit union has agreed to pay a $1.5 million fine and make restitution to customers harmed by its alleged lack of due diligence when it launched a new banking platform, the Consumer Financial Protection Bureau (CFPB) said.
Meta disclosed in a public filing that an investigation by the Consumer Financial Protection Bureau related to financial product advertising on platforms Instagram and WhatsApp may lead to a lawsuit.
Two affiliates of JPMorgan Chase have agreed to pay $151 million to settle five separate enforcement actions for making misleading disclosures, breaching fiduciary duties, and other failures related to investors.
