Anti-Money Laundering and Financial Crime

Identifying with financial institutions and other organizations now fall under the scope of regulation and enforcement

• Examining what does compliance look like, where are companies falling short, and what will result in enforcement action
• Analyzing trends in enforcement action and changes to Administrative Monetary Penalties
• Calculating whether reporting and enforcement action has increased, decreased, remained steady
• How is FINTRAC regulating and reporting standards as it applies to Export Controls

With escalating penalties from U.S. and Canadian regulators, including TD Bank’s recent fines, Canadian financial institutions must adapt to increasing scrutiny. This panel explores what’s next for cross-border compliance under the U.S. Bank Secrecy Act (BSA) and Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Topics of discussion include:

• Key takeaways from recent U.S. enforcement actions against Canadian banks
• Comparing penalty trends between U.S. and Canadian regulators
• Preparing for heightened regulatory expectations
• Evaluating practical steps to strengthen cross-border compliance programs

With U.S. trade policies tightening in 2025, Canadian businesses face mounting challenges that demand proactive strategies. Understand how the U.S. Presidential Election will reshape Canada’s economy and what financial institutions must do now to stay ahead. This session will look at the Canadian International Trade Tribunal Act with topics of discussion including:

• Assessing cross-border threats, including financial crime, drugs, and arms
• Analyzing Canada’s response to incoming U.S. trade policies
• Evaluating the business and economic impact of escalating tariffs

With regulators ramping up penalties under U.S. Bank Secrecy Act (BSA) and Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act, financial institutions must evolve their AML strategies to meet rising expectations and protect against growing risks. This session examines how leading organizations are responding to heightened enforcement. Topics of discussion include:

• Ensuring board buy-in for a stronger culture of compliance
• Prioritizing smart investments in controls to proactively mitigate risk
• Strengthening internal accountability to withstand regulatory scrutiny

New technology is enabling innovative and increasingly complex ways to perform retail payment activities. Under the Retail Payment Activities Act (RPAA), the Bank of Canada will register and supervise payment service providers (PSPs), to build confidence in the safety and reliability of their services while protecting end users from specific risks. PSPs registered with the Bank must meet requirements for mitigating operational risks, responding to incidents, and safeguarding end-user funds by September 8, 2025. Failure to comply may result in enforcement action by the Bank.

The aim of this session, is to provide an introduction to the RPAA, an overview of the key milestones, and explain the Bank’s supervisory framework. This includes what PSPs need to know and do, and enforcement tools and actions the Bank may take to promote compliance.

UNITED STATES
On December 31, 2024, the U.S. Department of Justice asked the U.S. Supreme Court to halt a nationwide injunction against the Corporate Transparency Act {CTA}, a move that would allow enforcement of the corporate Beneficial Ownership Information (BOI} filing requirements, despite the legal appeal.

CANADA
Bill C-42, An Act to amend the Canada Business Corporations Act and to make consequential and related amendments to other Acts and the National Public Beneficial Ownership Register (2023) aim to increase transparency.

As of January 2024, businesses incorporated under the CBCA are required to file information on individuals with significant control (ISCs) with Corporations Canada. The Act amendments also propose making information available to the public.

With U.S. enforcement of the Corporate Transparency Act moving forward, and Canada’s Bill C- 42 reshaping transparency obligations, financial institutions and businesses must adapt now to new reporting requirements. This session considers challenges and solutions for managing beneficial ownership compliance across borders. Topics of discussion include:

• Highlighting how Canada’s Beneficial Owner Registry is combatting corruption and increasing transparency
• Addressing industry and provincial challenges in implementing Canada’s federal registry
• Implementing best practices for discrepancy reporting and achieving compliance
• Understanding enforcement of the U.S. Corporate Transparency Act and the implications for Canada
• Preparing for the tech and infrastructure needs of evolving transparency laws

With FINTRAC and the Canada Revenue Agency issuing an Operational Alert in August of 2024, the real estate sector is under heightened scrutiny for transactions that may hide proceeds from illegal activities. As of October 2024, mortgage lenders, administrators, and brokers are now subject to the Proceeds of Crime and Terrorist Financing Act, signaling a shift in compliance expectations. Topics of discussion include:

• Identifying red flags and suspicious transactions in real estate
• Bolstering compliance programs to meet new AML requirements
• Supporting mortgage and real estate professionals in navigating heightened regulatory scrutiny
• Addressing challenges in implementing FINTRAC’s Operational Alert within the industry

Step into the shoes of financial institutions, regulators, and law enforcement in this interactive cybercrime simulation. Work collaboratively to unravel a live case involving a suspected cryptocurrency scam or ransomware attack, navigating real-time challenges and decision points to trace illicit funds to prevent financial crime. In this engaging session puts you in the driver seat, providing practical insights and a hands-on experience in tackling financial crime in the digital age:

• Identifying suspicious crypto transactions under pressure
• Collaborating across borders to overcome jurisdictional challenges
• Tracing offshore assets and crypto wallets to overcome criminal activity
• Responding to evolving threats posed by ransomware and “stable coins”
• Gaining expert feedback and actional strategies for combating cybercrime

In-Person Only

Join smaller group discussions designed to facilitate the exchange of experiences and lessons learned in the Fl compliance sector. Facilitators will guide conversations to uncover the latest best practices. Choose your table topic and feel free to move between discussions for a comprehensive learning and networking experience!

Table One: Fostering a Culture of Compliance and Behaviour

• Ensuring whistleblower programs are supported
• Overcoming organizational challenges
• Promoting compliance best practices

Table Two: Risk Analysis and Decision Making

• Analyzing the risk ramifications of your decision
• Documenting your decision
• Continuing to work with a high-risk customer

Table Three: Reconciling Compliance vs Corporate Growth

• Growing the business safely, and what does that look like
• Deciphering the risk involved in different growth scenarios
• Protecting the client
• Evaluating reputational risk

Table Four: Building Inter-Department Relationships and Communicating to Leadership

• Conveying the importance of the compliance role
• Discussing risk evaluation with colleagues
• Interacting with legal, IT, data and other departments

This session will look at the role of the international Financial Action Task Force (FATF) which is due to audit of Canada’s regulatory compliance process in December 2025.

Industry leaders discuss expectations from the Financial Action Task Force (FATF) 2025 mutual evaluation and how best to prepare.

• Protocols for measuring anti-money laundering and anti-terrorism
• Takeaways from the U.S. Department of the Treasury’s 2024 review

In the quickly evolving tech world, discover how financial institutions are using Al to analyze large volumes of data and detect suspicious activity. Topics of discussion include:

• Scanning for suspicious transactions and anomalies using Al
• Leveraging Al to improve collaboration between FINTRAC and financial institutions
• Navigating the risks, capabilities, and limitations of Al
• Calculating the value and use of Al in transactions monitoring

This session is under the Chatham House Rule. ACI’s strives to create a trusted environment to understand and resolve complex problems. In the spirit of the rule, we ask that if you share the information you receive you do not reveal the identity of who said it.

The Government of Canada’s Fall Economic Statement, issued December 2024, foreshadows substantial additional reforms to Canada’s economic sanctions and anti-money laundering regimes – and followed with announced amendments to Special Economic Measures Act, adding eight Chinese individuals to the sanctioned persons list. Can companies expect even more sanctions, and how do they comply? Topics of discussion include:

• Understanding evolving sanctions reporting expectations and the consequences of non- compliance or evasion
• Supporting in-house sanctions experts with the tools and strategies needed to manage complex requirements
• Identifying key resources and tech to streamline sanctions compliance
• Navigating the application process and qualifying for humanitarian exemptions

Money laundering isn’t limited to financial institutions – industries like gaming, insurance, and payments are also key players in detecting and combatting illicit activities. This interactive session brings together cross-industry experts to uncover how diverse sectors approach the same problems. Topics of discussion include:

• Examining national and global trends shaping the fight against money laundering
• Analyzing emerging criminal behaviours and techniques used to exploit industries
• Highlighting ongoing initiatives to strengthen anti-money laundering practices
• Sharing real-world success stories of proactive AML strategies beyond banking

In this engaging town hall, you’ll uncover the latest global AML trends and threats, all while participating in a dynamic discussion that brings statistics to life. This session goes beyond the numbers to explore the real-world impact of compliance efforts and identify opportunities for improvement. Topics of discussion include:

• Debating the most significant trends in prosecutions
• Understanding what makes evidence stick in court
• Exploring crime trends, common AML offenses, and where the stats reveal gaps
• Challenging compliance officers to reflect on their efforts contributing to investigations and where enhancements are needed

Discover how updates to the Proceeds of Crime and Terrorist Financing Act are reshaping compliance for licensed and unlicensed Money Service Businesses. This session simplifies key changes and actionable steps to meet new requirements. Topics of discussion include:

• Meeting stricter reporting requirements, including criminal record checks for agents
• Ensuring leadership, shareholders, and agents comply with eligibility criteria
• Preparing and submitting detailed criminal record checks for key personnel

Explore how financial institutions can lead the charge in identifying and combating human trafficking through smarter strategies and enhanced collaboration. Topics of discussion include:

• Implementing a proactive approach to identifying and combating, collecting and sharing financial evidence
• Analyzing case studies that showcase effective use of financial data in investigations
• Finding efficiencies to strengthen detection and reporting systems
• Appreciating the impact of Bill-C69, and how to adapt to the new regulatory landscape

Bill C-69: An Act to implement certain provisions of the budget tabled in Parliament on April 16, 2024 (BIA 2024), would facilitate voluntary information sharing between certain private sector entities for anti-money laundering, terrorist financing, or sanctions evasions purposes. It would also extend criminal and civil immunity (or “safe harbour”) to entities that engage in such information sharing in good faith.

• Identifying when organizations should be sharing information under the legislation
• Determining what actions would be circumventing the law
• Facilitating voluntary information sharing between certain private sector entities
• Examining civil immunity “Safe Harbour” verses protecting solicitor-client privilege
• Examining how the legislation will this work in practice, including staff resources, timelines