The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has imposed an administrative monetary penalty of CAD 24,750 on TreasureMeta Corporation, registered under the name Cappo FX Inc., a money services business in Markham, Ontario. The penalty, imposed on July 9, 2025 following a supervisory activity, relates to non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated regulations. FINTRAC identified one administrative violation, namely the failure to submit notification of a change to money services business registration information. It also noted that administrative monetary penalties are intended to encourage corrective behaviour, and reported issuing 23 notices of violation in 2024–25 for a total of more than CAD 25 million and imposing more than 150 penalties since 2008.
Financial Transactions and Reports Analysis Centre of Canada 2026-02-05
Financial Transactions and Reports Analysis Centre of Canada fines TreasureMeta Corporation CAD 24,750 for failing to update money services business registration information
FINTRAC imposed a CAD 24,750 penalty on TreasureMeta Corporation for non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, specifically for failing to update money services business registration information. This enforcement action is part of FINTRAC's broader compliance efforts, following 23 violation notices issued in 2024–25 totaling over CAD 25 million.