AML Compliance

AUSTRAC Operation Taipan: Money Laundering Investigation Analysis

AUSTRAC has published an analysis of Operation Taipan, a significant money laundering investigation that led to the dismantling of a criminal syndicate depositing $62 million through ATMs. The operation highlighted the effectiveness of the Fintel Alliance public-private partnership in combating financial crime.

AUSTRAC Guidance on Compulsory Examination Powers

AUSTRAC has published new guidance on its compulsory examination powers, introduced by the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024. The guidance clarifies the scope and application of these powers, which require individuals to attend examinations and provide documents.

AUSTRAC CEO Speech on Money Laundering and Legal Profession's Role

AUSTRAC CEO Brendan Thomas delivered a speech on March 12, 2026, detailing the mechanics and harm of money laundering. The speech emphasized the legal profession's role in preventing these activities, which cost Australia over $80 billion annually.

AUSTRAC CEO Speech on Gambling Financial Crime Risks

AUSTRAC CEO Brendan Thomas delivered a speech on March 12, 2026, addressing the significant financial crime risks within Australia's gambling sector. The speech highlighted the evolving threats of money laundering and terrorism financing, emphasizing the need for robust Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) controls.

AUSTRAC Releases AML/CTF Program Starter Kits for Small Businesses

AUSTRAC has released Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF) program starter kits to assist small businesses in newly regulated sectors. These kits provide practical tools and step-by-step guidance to help businesses meet their compliance obligations under the AML/CTF Act, which will take effect from July 1.

FINTRAC Advisory on Financial Transactions with FATF High-Risk Countries

FINTRAC has issued an advisory regarding financial transactions with countries identified by the Financial Action Task Force (FATF). Reporting entities must treat transactions with the Democratic People's Republic of Korea (DPRK), Iran, and Myanmar as high-risk and apply enhanced due diligence measures.

Canada Beneficial Ownership Requirements Guidance

FINTRAC has released a video explaining beneficial ownership requirements in Canada, crucial for combating money laundering and terrorist financing. The guidance is relevant to all reporting entities except title insurers.

FINTRAC Imposes Penalty on Manor Windsor Realty Ltd.

FINTRAC has imposed an administrative monetary penalty of $107,250 on Manor Windsor Realty Ltd. The real estate brokerage was found to be non-compliant with several provisions of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

FINTRAC Imposes $148,912 Penalty on Century 21 Heritage Group Ltd

FINTRAC has imposed an administrative monetary penalty of $148,912.50 on Century 21 Heritage Group Ltd. for failing to submit a suspicious transaction report. This action highlights the agency's commitment to enforcing anti-money laundering and anti-terrorist financing regulations.

Project Fletcher Fraud Investigation: Eight Arrests, Five Suspects Sought

Durham Regional Police Service announced eight arrests in Project Fletcher, a fraud investigation involving over $3 million defrauded from a Durham Region business. Five suspects remain at large. The investigation uncovered extensive money laundering activities over approximately 15 years.