By PAUL O’DONOGHUE, Senior Correspondent Cryptocurrency exchange Binance has been handed a $6M fine by Canada’s FINTRAC due to problems with its AML reporting. FINTRAC,Canada’s national financial intelligence agency, said that it imposed the penalty on Binance for non-compliance with part of Canada’s ‘Proceeds of Crime (Money Laundering) and Terrorist Financing Act’. The organisation said…
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LATEST: Canada’s FINTRAC hits Binance with $6M fine for AML failures
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BINANCE FINED: Sarah Paquet, FINTRAC’s director and CEO, said companies abiding by the country’s AML regulations are vital to “protect the safety of Canadians and the security of Canada’s economy”.