Michelle Martin - ComplianceAid Website

The Office of Foreign Assets Control (OFAC) fines Adani Enterprises $275 Million

May 18, 2026Michelle MartinNews

On May 18th, 2026, “The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced a $275,000,000 settlement with Adani Enterprises Limited (AEL), an Ahmedabad, India-based company.” To Access full article: Click here

FINTRAC Fines Canada Inc.- Necosmart $693,742 for AML/CFT Program Deficiencies

May 14, 2026Michelle MartinNews

On May 14th, 2026, “Canada Inc., also operating as Necosmart, a money services business in Edmonton, Alberta, was imposed an administrative monetary penalty of $693,742.50 on March 27, 2026, for committing 5 violations.” To Access full article: Click here

FINTRAC imposed a monetary penalty of $51,562 on Birks Group Inc

May 5, 2026Michelle MartinNews

On May 5th, 2026, “Birks Group Inc., also operating as Birks, a dealer in precious metals and precious stones with retail locations across Canada, was imposed an administrative monetary penalty of $51,562.50 on March 11, 2026, for committing 3 violations.” To Access full article: Click here

FINTRAC imposes a $42,075 monetary penalty on VersaBank

May 5, 2026Michelle MartinNews

May 5th, 2026, VersaBank, headquartered in Ontario was imposed an administrative monetary penalty of $42,075 on February 23, 2026, for committing 2 AML/CFT Compliance violations. To Access full article: Click here

FinCEN and OFAC Proposed AML/CFT Sanctions Compliance Program Requirements

April 8, 2026Michelle MartinNews

April 8th, 2026, the “U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control issued a joint proposed rule to implement provisions of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act).” To Access full article: Click here

US Financial Crimes Enforcement Network Proposed Rule to Reform Financial Institution AML/CFT Programs

April 7, 2026Michelle MartinNews

On April 7th, 2026, the “U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a proposed rule intended to fundamentally reform financial institutions’ anti-money laundering and countering the financing of terrorism (AML/CFT) programs under the Bank Secrecy Act (BSA). The proposed rule supports Treasury’s efforts to modernize the U.S. AML/CFT regulatory and supervisory...

The Office of Foreign Assets Control (OFAC) fines TradeStation Securities, Inc $1.1 Million

March 17, 2026Michelle MartinNews

On March 17 th, 2026, “The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced that TradeStation Securities, Inc. has agreed to pay $1,110,661 to settle its potential civil liability for 481 apparent violations of OFAC sanctions programs arising from TradeStation’s provision of brokerage and investment services.” To Access full article:...

FinCEN Assesses $80 Million Penalty against Canaccord Genuity

March 6, 2026Michelle MartinNews

On March 6th, 2026, The U.S. “Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) assessed an $80,000,000 civil money penalty against Canaccord Genuity LLC (Canaccord) for willful violations of the Bank Secrecy Act (BSA), the primary U.S. anti-money laundering and countering the financing of terrorism law that safeguards the financial system from illicit use....

FATF Issues Targeted report on Stablecoins and Unhosted Wallets – Peer-to-Peer Transactions

March 3, 2026Michelle MartinNews

On March 3rd, 2026, “A new report from the Financial Action Task Force (FATF) highlights illicit finance risks linked to criminals' misuse of stablecoins, particularly through peer-to-peer (P2P) transactions via unhosted wallets, and sets out recommended actions for countries and the private sector to strengthen controls to protect the integrity of the financial system.” To...

FINTRAC fines Xeltox Enterprises CAD $176

October 22, 2025Michelle MartinNews

On October 22, 2025, The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) announced that it had imposed an administrative monetary penalty on Xeltox Enterprises Ltd. (operating as Cryptomus and previously known as Certa Payments Ltd.). Following a compliance examination, this money services business, incorporated in British Columbia under the name Xeltox Enterprises Ltd.,...

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