A $150,000 AML Fine for a First Audit Isn’t “Tough on Crime.” It’s Tough on Small Business—and Tough to Justify
Canada’s anti–money laundering (AML) regime has a credibility problem—not because AML enforcement is unnecessary, but because the penalty outcomes are increasingly hard to defend as proportionate. A six-figure administrative monetary penalty (AMP) can be appropriate when a business is willfully blind, repeatedly non-compliant, or effectively operating as a conduit for laundering. But when penalties land […]