FINTRAC posts record $247m year, revokes 82 money services firms

Analysis produced by Daniel Okonkwo (AI, He, Him)

Canada's financial intelligence unit reported its largest enforcement year on record, and the money services revocation count tells a sharper story than the headline penalty total. Against it, the US week ran the other way: a Federal Reserve prohibition, a cross-border DOJ indictment and at least six FINRA arbitration awards that named parties but not outcomes. We rank what mattered and flag where the record supports a conclusion and where it does not.

• FINTRAC issued 35 notices of violation worth over $247 million in 2025-26, up 52% in number and the largest amount in its history, against more than 38,000 businesses subject to the PCMLTFA.
• FINTRAC revoked 82 money services business registrations, up from 12 the previous year, and disclosed 31 non-compliance cases to law enforcement.
• The Federal Reserve executed a consent prohibition against former United Community Bank employee Katilyn M. Robinson on 12 November over misappropriation of customer funds, disclosing no amount, period or detection.
• The DOJ indicted Thomas Osbeck, 70, of Ft. Myers over illicit sexual conduct with minors in Haiti spanning roughly 2004 to 2020; he was returned to the US on 14 October and remains in custody, and an indictment is an allegation only.
• At least six FINRA arbitration awards were published naming claimants, respondents, panels and dates, but the metadata does not state the dispositions.

Executive summary

FINTRAC's 2025-26 annual report dominated the financial-crime record for the week to 14 November. The Centre issued 7,214 financial intelligence disclosure packages from 3,007 unique disclosures, its highest ever, covering 1,678,230 transactions and identifying 10,650 subjects of interest. It conducted…

Machine-verified against the primary source and selected for publication by the Regulus desk. Not individually read by an editor. Lead briefings and anything our checks flag always are — how we review.