The Financial Transactions and Reports Analysis Centre of Canada imposed a CAD 676,500 administrative monetary penalty on Caisse populaire acadienne ltée, operating as UNI Financial Cooperation, for noncompliance with federal money laundering and terrorist financing requirements. The penalty followed a compliance examination of the federally regulated credit union and was imposed on July 23, 2026. The violations included four failures to report transactions for which there were reasonable grounds to suspect a connection to money laundering or terrorist financing. The credit union also failed to maintain current, senior officer approved written compliance policies and procedures, and to assess and document its exposure to money laundering and terrorist financing risks using prescribed factors and relevant developments and technologies. It 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 imposes CAD 676,500 penalty on UNI Financial Cooperation for compliance failures
The Financial Transactions and Reports Analysis Centre of Canada imposed a CAD 676,500 penalty on UNI Financial Cooperation for reporting, compliance policy and risk assessment failures. The credit union paid the penalty in full, and the case is closed.