The Financial Transactions and Reports Analysis Centre of Canada imposed a CAD 16,500 administrative monetary penalty on Your Neighbourhood Credit Union Limited following a compliance examination. The Ontario credit union breached the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated regulations by failing to develop and apply written compliance policies and procedures that were kept current and approved by a senior officer. The penalty was imposed on Aug. 10, 2026. Your Neighbourhood Credit Union has paid it 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 Your Neighbourhood Credit Union CAD 16,500 for compliance program failings
The Financial Transactions and Reports Analysis Centre of Canada fined Your Neighbourhood Credit Union CAD 16,500 for failing to maintain and apply current, senior officer approved compliance policies and procedures. The credit union has paid the penalty in full, and the case is closed.