Is Your Institution Prepared for the FIC Crackdown?

The Financial Intelligence Centre (FIC) has significantly ramped up efforts to penalize non-compliant institutions, specifically targeting industries such as legal services, real estate, and others. With administrative sanctions, hefty fines, and severe reputational damage at stake, businesses that fail to meet their anti-money laundering and terrorist financing obligations face tough consequences. The recent FIC crackdown highlights the need for accountable institutions to ensure they comply with regulations, including registering with the FIC, submitting accurate reports, and conducting thorough client due diligence.

What does this mean for your business?

Non-compliance is costly and can damage your organization’s reputation. Now more than ever, ensuring your systems and processes are equipped to handle these regulatory demands is critical to protecting your company from penalties. Whether you are struggling with FIC Targeted Financial Sanctions or adverse media screening, we can help streamline these compliance tasks.

To support businesses during this critical time, we are offering a 35% discount on our advanced compliance solutions, including DPEP, FPEP, PIP, FIC Targeted Financial Sanctions, and Adverse Media Screening. Our services ensure your institution meets FIC’s standards, reduces the time spent on false positives, and enhances data quality for better decision-making.

For more details, you can check the full article here.