FTRAC - Administrative Monetary Penalties

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) enforces regulatory compliance through administrative monetary penalties (AMPs). These penalties are imposed on individuals and entities that violate financial regulations. FINTRAC aims to promote compliance and accountability within the financial sector.

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48 Entities in FTRAC - Administrative Monetary Penalties

Entity Name	Entity Type	Effective Date	Status
Cheetah Consulting Ltd	Company	Jul 20, 2022	active
Jones Lang Lasalle Real Estate Services	Company	Mar 13, 2024	active
Deshi Foreign Exchange Inc	Company	May 25, 2023	active
Les Immeubles Diamant Diamant Inc	Company	Mar 29, 2021	active
Royal Bank of Canada	Company	Nov 3, 2023	active
Forest Hill Real Estate Inc	Company	Oct 28, 2021	active
Park Georgia Realty Ltd	Company	Jan 25, 2021	active
Laurentian Bank of Canada	Company	Feb 17, 2022	active
Libro Credit Union Limited	Company	Oct 12, 2021	active
The TorontoDominion Bank	Company	Apr 9, 2024	active

FAQs

Why is compliance with the FTRAC - Administrative Monetary Penalties necessary?

Administrative Monetary Penalties (AMPs) are crucial for ensuring compliance with legal and regulatory frameworks. They serve as an effective deterrent against violations, promoting accountability among individuals and organizations. By adhering to AMPs, entities not only avoid potential financial repercussions but also contribute to the integrity of their industry and the protection of public interests. Compliance fosters a culture of responsibility and transparency, ultimately supporting a fair and equitable marketplace for all stakeholders involved.

Which companies should comply with FTRAC - Administrative Monetary Penalties?

Companies in the financial services, telecommunications, and energy sectors must comply with FINTRAC's Administrative Monetary Penalties. These industries often handle sensitive consumer data and are subject to strict regulations. Non-compliance can lead to significant financial penalties, reputational damage, and operational disruptions, making adherence crucial for maintaining regulatory alignment and ensuring consumer trust in their services.

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