Posts Tagged 'credit unions'

FINTRAC Gives Fair Warning to Credit Unions in Ontario

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At a recent meeting with the Deposit Insurance Corporation of Ontario (DICO), The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) stated that, as it has now examined every Ontario credit union and caisse populaire at least once, there will be no tolerance for non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) going forward. FINTRAC has clearly and strongly stated that if findings of deficiency are not properly addressed by the time of its ...

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