Assessment and enforcement
From: Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)
Learn about the assessment process, voluntary self-declaration of non-compliance, administrative monetary penalties for non-compliance and criminal non-compliance offences.
On this page
- Assessments and examinations
- Voluntary self-declaration of non-compliance
- Enforcement actions
- Related links
Assessments and examinations
FINTRAC conducts examinations to assess whether you are meeting your requirements under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations.
For more information, consult:
- FINTRAC examinations: your responsibilities and what you can expect from FINTRAC
- FINTRAC assessment manual: The approach and methods used during examinations
Voluntary self-declaration of non-compliance
If you identify instances of non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations, you should send a voluntary self-declaration of non-compliance to FINTRAC. For more information, consult: Voluntary self-declaration of non-compliance.
Enforcement actions
Failure to comply with Parts 1 and 1.1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act) may result in administrative monetary penalties or criminal charges for non-compliance offences. Administrative monetary penalties and criminal charges for non-compliance offences cannot be issued against the same instances of non-compliance.
Administrative monetary penalties
Since December 30, 2008, FINTRAC has the legislative authority to issue administrative monetary penalties if you are found to be non-compliant with the Act and associated Regulations.
The Act and associated Regulations establish precise penalty ranges for each violation. Within these ranges, specific penalty amounts are calculated based on FINTRAC’s Administrative monetary penalties policy.
For more information, consult:
- Questions and answers on administrative monetary penalties
- Administrative monetary penalties policy
- Penalties calculation examples
- Guide on harm done assessment for compliance program violations
- Guide on harm done assessment for large cash transaction reports, electronic funds transfer reports, and casino disbursement reports violations
- Guide on harm done assessment for suspicious transaction reports violations
- Guide on harm done assessment for "Know your client" requirements violations
- Guide on harm done assessment for record keeping violations
- Guide on harm done assessment for money services businesses registration violations
- Guide on harm done assessment for violations of other compliance measures
If you received a notice of violation (penalty), you can make representations to the Director and Chief Executive Officer of FINTRAC. For more information, consult: Reviews and appeals.
Note: FINTRAC must make public all administrative monetary penalties imposed.
Consult the list and public notices of persons or entities that have been imposed an administrative monetary penalty: Public notice of administrative monetary penalties.
For information on information included in public notices, consult: Backgrounder: Change to public notices for administrative monetary penalties.
Criminal non-compliance offences
FINTRAC has the legislative authority to disclose information to law enforcement when it suspects on reasonable grounds that the information would be relevant to investigating or prosecuting a non-compliance offence under the Act. Disclosures may occur when the Centre has identified reporting entity non-compliance, or when the Centre has received voluntary information from law enforcement on non-compliance. For more information, consult: Criminal non-compliance offences.
Related links
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