Administrative monetary penalty on TreasureMeta Corporation
[2026-02-05]
TreasureMeta Corporation, registered under the name Cappo FX Inc., a money services business in Markham, Ontario, was imposed an administrative monetary penalty of $24,750 on July 9, 2025, for committing 1 violation. The violation was found during the course of a supervisory activity.
Nature of violation
- Violation #1
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Failure to submit notification of change to money services business registration – Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations, paragraph 4(b) and 5
According to federal corporation information, TreasureMeta Corporation (registered with FINTRAC under the name Cappo FX Inc.) changed its legal name in October 2024. TreasureMeta Corporation’s office address has also changed. TreasureMeta Corporation did not update its money services business registration with FINTRAC to include its new legal name or address information within 30 days as required.
Money services businesses must register with FINTRAC to ensure FINTRAC is aware of the businesses that operate in Canada and their activities. The information in the money services business registry helps FINTRAC ensure effective compliance in the sector, using a risk-based approach. As the registration information is accessible through FINTRAC's website, the registration status of these businesses is made public, however, registration does not indicate that FINTRAC endorses or licences the business. Registration information that is not submitted in the prescribed manner or that is incomplete, outdated, or unclear diminishes the effectiveness of FINTRAC's compliance activities and its ability to ensure compliance in the money services business sector.
In this case, this violation is classified by the regulations as a Serious violation. The imposed penalty takes into account the criteria in section 73.11 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and section 6 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Administrative Monetary Penalties Regulations.