Comprehensive analysis of regulatory trends, enforcement patterns, and compliance risks across Canadian industries.
Canada faces FATF evaluation in November 2025. Failure to implement recommendations could result in grey-listing with severe economic consequences. FINTRAC enforcement is accelerating at an unprecedented rate.
Annual penalties grew from $353K (2020) to $26.4 million in 2025 alone—a 7,364% increase in 5 years.
KuCoin (2025) received FINTRAC's largest-ever penalty—74% of all 2025 penalties issued to a single cryptocurrency exchange.
TD Bank $9.2M (2024), RBC $7.5M (2023), CIBC $1.3M (2023). Even Canada's largest institutions face millions in penalties.
Cryptocurrency exchanges face explosive enforcement. KuCoin's $19.5M penalty represents the largest single fine in FINTRAC history, issued for failure to register as an MSB and not reporting suspicious transactions.
Major Canadian banks face unprecedented enforcement. Even the largest financial institutions like TD Bank, RBC, and CIBC have received multi-million dollar penalties for AML compliance failures.
Jewelry stores and precious metals dealers continue to face significant penalties. Common violations include failure to verify customer identity and inadequate record-keeping for large transactions.
Casino operators saw a surge in enforcement in 2025 after relatively quiet years. Provincial gaming corporations and private casinos face scrutiny over large cash transaction reporting.
Important Notice: VitaLaw Monitor is a business intelligence and regulatory tracking solution. We do not provide compliance services, AML/KYC consulting, or legal advice. This platform tracks and analyzes publicly available FINTRAC enforcement data to help businesses understand regulatory trends.
Monitor FINTRAC enforcement trends and protect your business.