Compliance Radar

Who was sanctioned, and for what?

Fines, court rulings and incidents from Europe and North America: 1,370 cases from 35 jurisdictions, each with an official source and checked against that source before publication. Filter by country, area of law and sector. Click a chart to drill down one level.

1case from 1 jurisdiction
€679,518Total of monetary amounts
€679,518Largest single case: Exchange Bank of Canada
€679,518Median per case with an amount

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Trend
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Q1 20240—
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Q4 20241€679,518
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1 case

5 Nov 2024 Exchange Bank of CanadaFINTRAC: penalty on Exchange Bank of Canada reduced to CAD 1,027,975 on appeal CanadaSuspicious activity reports €679,518

According to FINTRAC, Exchange Bank of Canada is a bank based in Toronto, Ontario. Canada's anti-money laundering regulator FINTRAC imposed an administrative monetary penalty of CAD 2,457,750 on the company on 5 November 2024. According to FINTRAC's findings, made during a compliance examination, the company committed 3 violations of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its regulations. As described by the regulator, the violations concerned suspicious transaction reporting, ongoing monitoring of business relationships and large cash transaction reporting. Specifically, FINTRAC found five missing suspicious transaction reports in 26 case files reviewed, eight cases without the required ongoing monitoring and three misclassified and therefore unreported cash transactions; the compliance programme had not been adequate for the bank's business model and global reach. The bank filed an appeal; according to FINTRAC, the Federal Court confirmed the violations on 18 December 2025 but varied the penalty to CAD 1,027,975. The case is closed. Source: FINTRAC (Financial Transactions and Reports Analysis Centre of Canada), "Administrative monetary penalty on Exchange Bank of Canada", published 11 December 2024, https://fintrac-canafe.canada.ca/pen/amps/pen-2024-12-11-eng; summarised in our own words; not an official version and not a reproduction of the original.

Authority / court
Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)
Area of law
Money laundering and terrorist financing · Suspicious activity reports
Legal basis
PCMLTFA s. 7, 9(1); PCMLTF Regulations 7(1)(a), 123.1, 156(1)(c), Schedule 1; PCMLTF Suspicious Transaction Reporting Regulations s. 9(1); Verwaltungsgeldbuße nach Teil 4.1 PCMLTFA
Action
Fine
Status of proceedings
reduced
Sector
Financial services and insurance
Published
11 Dec 2024

Original amount 1,027,975 CAD, converted at the ECB reference rate of 5 Nov 2024.

Checked against the official source on 28 Sep 2026 · Version 3 · Direct link

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