At Clarity Global Inc., we believe in continuously pursuing knowledge to enhance the quality of services we provide to our valued clients. We're proud to announce that our compliance team has successfully completed a comprehensive study and certification program with Web Shield Academy, a recognized leader in the industry. This certification underscores our commitment to staying at the forefront of compliance standards, ensuring that our operations align with the latest industry regulations and best practices. We are dedicated to maintaining the highest security and transparency standards in all our services.
We are excited to announce a strategic partnership with a new UK-based bank in our ongoing efforts to provide unparalleled services to our clients. This collaboration allows us to broaden our range of payment solutions, catering to diverse business industries. Our partnership with another financial institution signifies our commitment to offering innovative, secure payment options. We understand that flexibility in financial transactions is crucial for our clients, and this collaboration enables us to meet and exceed those expectations.
"FINTRAC imposes an administrative monetary penalty on the Royal Bank of Canada News Release
December 5, 2023—Ottawa—Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)
Today, FINTRAC announced that it has imposed an administrative monetary penalty on the Royal Bank of Canada (RBC). Following a compliance examination in 2022, this bank was imposed an administrative monetary penalty of $7,475,000 on November 3, 2023, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
Royal Bank of Canada was found to have committed the following three administrative violations:
Failure to submit suspicious transaction reports where there were reasonable grounds to suspect that transactions were related to a money laundering offence;
Failure to provide information in the prescribed form and manner in suspicious transactions reports; and
Failure to keep written policies and procedures up to date.
This penalty was imposed for administrative violations committed by RBC under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations, and not for criminal offences for money laundering or terrorist activity financing."
To avoid shortcomings in identifying suspicious transactions, Clarity Global compliance team constantly increases the level of its competence in advanced training programs. Our main objective is to provide our clients with a sense of financial tranquillity and assurance.
As we reflect on the past year, we want to express our gratitude to each of our clients for their trust and partnership. Your feedback and support inspire us to enhance our services and continually explore new avenues for growth. As we approach the festive season, we wish you joy, peace, and prosperity. Thank you for being an integral part of the Clarity Global Inc. community!
Contact us today at [email protected] or @Sales_CIarityGlobalincr via Skype (live:.cid.93dc92d260a08l9e) to start your journey towards simplified banking.
Best regards,
The Clarity Global Team