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OK, not quite tax and cross-posted.

Thanks, Joe Devaney, for pointing this out.  EDIT:  Credit where it's due - Joe tells me he was alerted by Gen Segger. Knowledge sharing in our profession is so important!

We have now seen what I  believe is the first FINTRAC penalty assessed on an accounting firm in respect of the Anti-Money Laundering and Anti-Terrorist Financing Regime.  It's a significant penalty - over $70k - and nothing in the announcement at https://fintrac-canafe.canada.ca/new-neuf/nr/2025-10-09-eng indicates that any actual money-laundering or other inappropriate activity was detected.

There's a whole FINTRAC webpage devoted to the responsibilities of accountants under these rules at https://fintrac-canafe.canada.ca/guidance-directives/recordkeeping-document/record/acc-eng.

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Hugh Neilson
Kingston Ross Pasnak LLP
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Tank Candy Davis for this reminder:

"I can't post replies on the "News" section but thought I'd pass this on for fellow CPA's: https://www.cpacanada.ca/career-and-professional-development/webinars/connects/oct-2025?utm_campaign=172894449-CPA+Connects+2025&utm_medium=email&_hsenc=p2ANqtz-8Yme9XUGHkvoy3mKp_DMGFAIMLTkFLgCPxAdkPE7OnGTb8W9AbZpLjFtbFhoJNaTDDWloeFZtFkRp3Yegs9e2yNqFeDg&_hsmi=119270628&utm_content=119270628&utm_source=hs_email"