FINTRAC Exam Defenders – Your Comprehensive Defence Team
Why the FINTRAC Exam Defenders exist
FINTRAC has been clear that its focus is no longer cooperation, but enforcement. That shift in its philosophy has left a gap in the resources available to financial institutions – both those resources that help them to understand their obligations to FINTRAC as well as those resources that help them to appropriately respond. The FEDs exist to fill that gap, and to guard against exaggerated violations and unjust enforcement actions.
What we do
FED helps organizations with responsibilities under Canada’s anti-money laundering legislation to understand their obligations under the Act, to comply with those obligations, and to defend them against the financial and reputation risk of enforcement actions. Those defence efforts can begin with the examination process itself, can lead to assistance in drafting a response to deficiency letters, as well as appeals to the director, to the Federal and, ultimately, the Supreme Court of Canada.
How we work
Rather than take a cookie-cutter approach, we believe that each situation calls for a unique plan of attack based on the particular circumstances of your organization’s ordeal with FINTRAC. As such, we start with a triage process. Matthew J. McGuire, BA(Hons), MAcc, CA, DIFA, CAMS, AMLP, conducts an initial assessment of your organization’s situation. Once your organization’s problem has been analyzed, a strategy is developed in consultation with you. From this point, a specialized team is developed to help tackle your problem. Your team may include compliance experts, accounting experts and lawyers. Different situations will require teams made up of different professionals. By taking this approach we are able to focus on your organization’s FINTRAC-issue with laser-like precision and create the most effective response.
Matthew is a National AML Practice Leader. He and his team of dedicated anti-money laundering specialists have assisted reporting entities across Canada to design AML compliance programs, and conduct compliance reviews. Over the past few years that focus has shifted towards preparation for FINTRAC and OSFI exams, designing informed remedial action plans, and supporting remediation efforts. Matthew is a Chartered Accountant, Certified Anti-Money Laundering Specialist, an accredited Anti-Money Laundering Professional, a founder of the Canadian Institute for Financial Crime Analysis at Seneca College, and a graduate and instructor of the University of Toronto’s Investigative and Forensic Accounting Program.