Prudent Advisory Service

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has intensified its oversight of the Canadian real estate sector, issuing a series of administrative monetary penalties (AMPs) to brokerages failing to meet federal anti-money laundering (AML) and anti-terrorist financing obligations. These enforcement actions highlight critical gaps in compliance, ranging from inadequate record-keeping to failures in reporting suspicious transactions. As the regulator maintains a...

European financial institutions face mounting pressure to enhance anti-money laundering (AML) and counter-terrorist financing (CFT) compliance as the new EU AML package takes effect. With the Anti-Money Laundering Authority (AMLA) now operational, regulators emphasize urgent action to meet 2027 deadlines. Rise of AMLA and Regulatory Shift The Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA), based in Frankfurt, assumed full AML/CFT responsibilities from the...

AUSTRAC has launched two targeted supervisory campaigns into Australia’s virtual assets sector, as landmark Australian anti-money laundering reforms reshape how virtual asset businesses are regulated. AUSTRAC’s campaigns focus on virtual asset service providers (VASPs), previously known as digital currency exchanges (DCEs), offering over-the-counter crypto to cash (or vice versa) services, and local exchanges operating in Australia. AUSTRAC Chief Executive Officer Brendan Thomas said the...