The Royal Bank of Canada (RBC) has been issued a $7.5m penalty by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) over AML shortcomings.  Dating back to last November, the penalty is in reference to a compliance examination of the bank conducted by FINTRAC in 2022. The results showed evidence of non-compliance with … Continue reading RBC given $7.5m penalty by FINTRAC over administrative AML failures