The Financial Transactions and Reports Analysis Centre of Canada announced that it imposed a CAD 82,500 administrative monetary penalty on Caisse populaire Alliance limitée, operating as Caisse Alliance, following a compliance examination. The Ontario credit union paid the penalty in full, and the case is closed. The examination found failures to maintain current, senior officer-approved compliance policies and procedures, apply prescribed measures to high-risk activities, and assess and document money laundering and terrorist financing risks. Caisse Alliance also failed to conduct and document the required biennial review of its compliance program’s effectiveness.
2026-09-24Financial Transactions and Reports Analysis Centre of Canada
Financial Transactions and Reports Analysis Centre of Canada announces CAD 82,500 penalty against Caisse Alliance for compliance program failures
The Financial Transactions and Reports Analysis Centre of Canada imposed a CAD 82,500 penalty on Caisse Alliance for anti-money laundering and terrorist financing compliance failures. The deficiencies involved compliance policies, high-risk measures, risk assessments and biennial program reviews. The credit union paid the penalty in full, and the case is closed.