Operator Aml Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)· Canada · 2026-05-14

FINTRAC imposes an administrative monetary penalty on 13010431 Canada Inc.

→ Necosmart

FINTRAC imposed an administrative monetary penalty of CAD 693,742.50 on 13010431 Canada Inc., also operating as Necosmart, on March 27, 2026 following a compliance examination. FINTRAC found failures including not submitting suspicious transaction reports, inadequate written compliance policies, insufficient enhanced measures for high-risk clients, failure to assess and document ML/TF risk, and insufficient record-keeping for virtual currency exchange transaction tickets.

Amount (EUR)

€639,420

Original currency

CAD 693,742.50

Action date

2026-05-14

Authority

Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

Country

Canada

Primary source:
https://fintrac-canafe.canada.ca/new-neuf/nr/2026-05-14-eng ↗

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