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.
------------------------------
Hugh Neilson
Kingston Ross Pasnak LLP
------------------------------