Non-compliance comes at a higher cost than ever ⚠️
Recently, FINTRAC released a new legislative framework for administrative monetary penalty (AMP) violations occurring on or after March 26th, 2026, following the enactment of Bill C-12.
Remember, AMPs can now reach 40X the old cap.
Key highlights from the released legislative framework include the strengthening of FINTRAC’s enforcement tools including (Source: FINTRAC):
🟠 defined prescribed violations and compliance order violations subject to penalties
🟠 ability to pay considered in penalty amount
🟠 mandatory compliance agreements for prescribed violations
🟠 compliance orders as an additional enforcement tool
Our experts have recently released a full expert breakdown on the implications of Bill C-12, if you haven’t seen it yet, click here.
Our compliance team is working closely with existing and new clients to adapt to these pivotal changes to ensure they are audit ready. If you want to reduce friction with regulators, reach out to our team today to find out how we can help you Help Keep FINTRAC Happy.