Toronto bank fined $676,000 for failing to report money laundering

Reported by: Matthew Horwood Federal regulators yesterday fined a Toronto-based bank $676,500 for breach of regulations under the Proceeds Of Crime And Terrorist Financing Act. According to Blacklock’s Reporter, the penalty for Wealth One Bank of Canada was the steepest levied in two years. “We will be firm in ensuring businesses continue to do their part,” Sarah Paquet, […]