The Latest FinCrime News from North America
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FINTRAC Cracks Down on Juba Express for Reporting Failures
FINTRAC levied an administrative monetary penalty of $67,150 against Juba Express Inc., a money services business, for multiple failures to comply with its money laundering risk obligations, including inadequate compliance policies and the failure to file mandatory transaction reports under the Proceeds of Crime, Money Laundering, and Terrorist Financing Act.
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A primer for Canadian Law Enforcement on the upcoming changes to Canada’s Banking System
Canada is rapidly moving toward a high-speed financial system through Real-Time Rail (RTR) payments, open banking, and a regulated stablecoin. This financial convenience upgrade risks amplifying fraud and money laundering due to critical gaps in the legal framework. The country needs real-time enforcement tools to police the Canada Real-Time Payments AML system and learn from jurisdictions like the UK.
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OFAC Slams Attorney with $1.092M Sanctions Fine
A U.S. attorney and former official agreed to a $1,092,000 settlement with OFAC for 122 apparent sanctions violations, serving as a fiduciary for a blocked Russian oligarch's trust. This case underscores the major fiduciary duty and AML risks for professional gatekeepers who facilitate access to the U.S. financial system through complex structures, emphasizing the need for robust compliance against sanctions evasion.
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FinCEN Fines Paxful $3.5 Million for BSA Violations
FinCEN levied a $3,500,000 penalty against Paxful for willful Bank Secrecy Act (BSA) violations, demonstrating a zero-tolerance approach to virtual currency money laundering. The peer-to-peer platform failed to register as an MSB, implement an effective AML program, and file SARs, facilitating over $500 million in suspicious activity linked to sanctioned countries and illicit actors.
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Oil Trader Jailed and Fined $300,000 in Global Bribery and Money Laundering Scandal
A former senior oil trader was sentenced to 15 months in prison for his role in a multi-year bribery and money laundering scheme that secured lucrative contracts for his employers. The scheme involved disguising over $1 million in corrupt payments as legitimate business fees, highlighting the sophisticated techniques used to layer illicit funds. The case resulted in a corporate penalty exceeding $98 million, underscoring the severity of penalties for financial crime.
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Illinois $300M Health Care Fraud Case Expands With Money Laundering Allegations
The laundering network described in the Illinois health care fraud case shows how proceeds were moved through laboratories and affiliated entities before reaching high value purchases, illustrating a large scale operation that relied on layered financial activity.
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OFAC penalty on Gracetown for unlawful transactions tied to Deripaska
The OFAC sanctions evasion case involving Gracetown shows how continued payments and unreported blocked property sustained prohibited financial flows, revealing systemic weaknesses in controls. The sanctions evasion risks were heightened by the real estate structure.
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FINTRAC penalty on Griffin Jewellery Designs Inc exposes serious AML gaps
The FINTRAC penalty on Griffin Jewellery Designs Inc highlights aml policy failures and weak structural defences that increased laundering exposure across multiple retail locations.
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FDIC oversight shift clarifies stablecoin expectations for AML teams
House testimony from FDIC Chairman Hill explains how the Genius Act implementation guides upcoming rulemaking and strengthens AML expectations through a focus on stablecoin oversight and measurable outcomes.
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Intesa Sanpaolo faces 125k FINRA fine for critical TRACE errors
FINRA fined Intesa Sanpaolo $125kafter extensive TRACE reporting failures that left thousands of transactions inaccurately reported or unreported, raising concerns about transparency and regulatory compliance.
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Leader of Drug Money Laundering Network Sentenced After $1.2 Million Scheme
A drug money laundering scheme that moved $1.2M through bulk cash pickups and rapid cross border deposits resulted in a five year jail sentence after a guilty plea.
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Synergy Credit Union Faces CAD 214k FINTRAC Penalty for AML Reporting Failures
FINTRAC issued a CAD 214k penalty for oversight failures at Synergy Credit Union, revealing weaknesses in reporting obligations and governance structures tied to AML controls.
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FINRA Fines BMO Capital Markets $300k Over Late Reporting Failures
The FINRA case imposing a 300000 dollar fine on BMO Capital Markets highlights how TRACE reporting failures and supervisory gaps limited transparency and disrupted key surveillance processes.
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Money Trail to Hamas Exposes Binance in Hard-Hitting Case
The lawsuit highlights significant money laundering exposure at Binance, alleging that structural weaknesses allowed Hamas-linked funds to move through the platform.
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5 Canadian Real-Estate Brokers Under FINTRAC Fire for AML Failures
Five Canadian real-estate brokers have been hit by FINTRAC with enforcement actions in 2025, highlighting critical gaps in anti-money-laundering real estate compliance and how money-laundering risk in property transactions can expose firms to significant penalties.
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Did TD Bank’s AML Cleanup Targeted Chinese Heritage Staff
TD Bank’s AML remediation appears to have disproportionately targeted employees of Chinese descent, raising concerns about bias inside a high pressure compliance overhaul.
Other News From North America
FINTRAC Cracks Down on Juba Express for Reporting Failures
FINTRAC levied an administrative monetary penalty of $67,150 against Juba Express Inc., a money services business, for multiple failures to comply with its money laundering risk obligations, including inadequate compliance policies and the failure to file mandatory transaction reports under the Proceeds of Crime, Money Laundering, and Terrorist Financing Act.
A primer for Canadian Law Enforcement on the upcoming changes to Canada’s Banking System
Canada is rapidly moving toward a high-speed financial system through Real-Time Rail (RTR) payments, open banking, and a regulated stablecoin. This financial convenience upgrade risks amplifying fraud and money laundering due to critical gaps in the legal framework. The country needs real-time enforcement tools to police the Canada Real-Time Payments AML system and learn from jurisdictions like the UK.
OFAC Slams Attorney with $1.092M Sanctions Fine
A U.S. attorney and former official agreed to a $1,092,000 settlement with OFAC for 122 apparent sanctions violations, serving as a fiduciary for a blocked Russian oligarch’s trust. This case underscores the major fiduciary duty and AML risks for professional gatekeepers who facilitate access to the U.S. financial system through complex structures, emphasizing the need for robust compliance against sanctions evasion.