The Financial Transactions and Reports Analysis Centre of Canada imposed a CAD 41,250 administrative monetary penalty on Pathwise Credit Union for noncompliance with federal anti-money laundering and terrorist financing requirements. The penalty followed a compliance examination of the Ontario provincial credit union and was imposed on June 4, 2026. Pathwise failed to develop, apply and maintain up-to-date written compliance policies and procedures approved by a senior officer. It also failed to assess and document its money laundering and terrorist financing risks using the prescribed factors. The credit union has paid the penalty in full, and the case is closed.
2026-09-24Financial Transactions and Reports Analysis Centre of Canada
Financial Transactions and Reports Analysis Centre of Canada fines Pathwise Credit Union CAD 41,250 for anti-money laundering compliance failures
The Financial Transactions and Reports Analysis Centre of Canada fined Pathwise Credit Union CAD 41,250 for deficiencies in its compliance policies and risk assessment. The credit union has paid the penalty in full, and the case is closed.