Regulators around the globe are increasingly vigilant about money laundering and terrorist financing. The growing influence of socially conscious investors further intensifies the scrutiny on illicit financial transactions.
Unfortunately, Canada has the dubious distinction of being a friendly haven for illicit financial activity. We even have our own name for laundering money, “snow washing.” Canadian businesses need to be armed with anti-money laundering solutions.
Even if your organization is an unwitting participant to such schemes, you could be exposed to aggressive enforcement actions and substantial fines/penalties.
Our goal is to help you and your organization navigate complex regulatory requirements and avoid being an unwitting participant in money laundering schemes through tailored anti-money laundering solutions that would suit your needs and unique requirements.
Your compliance risk concerns:
- Domestic obligations – Canadian companies are subject to reporting requirements under FINTRAC.
- Foreign obligations - Many countries have extraterritorial obligations and implications, including the U.S., UK and EU.
- Regulatory fines/penalties for violations have increased exponentially in recent years.
- Compliance failures also attract substantial reputation risk.
- Compliance with PCMLTFA and FINTRAC requirements, including recent amendments that come into force in June 2021.
Our anti-money laundering solutions:
- Design and implementation of AML compliance programs and policies
- AML risk assessments
- Pre-inspection (readiness) reviews
- Independent AML program testing
- AML training & workshops
- AML advisory
- AML systems vendor selection assistance
- AML program remediation
- AML compliance reviews pursuant to M&A transactions
- On-call AML advisory
- Independent investigations
- Litigation support (expert witness)