Anti-Money Laundering / FINTRAC
Anti-Money Laundering and Anti-Terrorism Financing Enforcement.
Financial institutions, realtors, money service businesses, brokerages and insurers are required to develop and implement written Anti-Money Laundering (AML) and Anti-Terrorism Financing (ATF) policies and procedures, train and retrain their staff, and test the effectiveness of their compliance efforts.
Anti-money laundering lawyer Bruce McMeekin is one Canada’s foremost legal authorities on AML and ATF. He assists clients with deploying an effective compliance system following FINTRAC guidelines, provides advice during internal and FINTRAC audit processes, and undertakes Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) appeals when necessary.
FINTRAC audits are increasingly frequent and the detection of organizational non-compliance can lead to substantial administrative monetary penalties. Any penalties imposed on a corporation as a result of a FINTRAC audit can be reviewed at the corporation’s request within a limited time frame. If necessary, reviews are subject to a formal appeal to the Federal Court. If upheld, penalties may be published by FINTRAC, exposing the penalized organization to the additional risks of damaged reputation and business relationships.
Bruce is one of very few Ontario lawyers experienced in completing reviews of FINTRAC penalties, and, if necessary, undertaking Federal Court appeals. He makes for an ideal FINTRAC lawyer, having enjoyed substantial success in rescinding or reducing penalties and negotiating the non-publication of standing penalties.
Contact J. Bruce McMeekin Law