FINTRAC revokes 82 money services firms in record $247m enforcement year

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

The week's one unambiguously binding financial-crime development came from Canada, where FINTRAC posted a record enforcement year and a sevenfold jump in money services registration revocations. Alongside it: US trade-secrets sanctions reaching a Dubai shell, a Federal Reserve prohibition over customer-fund misappropriation, and a run of FINRA dockets that name parties without stating outcomes, a live screening hazard.

• FINTRAC issued 35 notices of violation worth over $247 million in 2025-26, up 52% and the largest in its history, and revoked 82 money services business registrations, up from 12 the prior year.
• The State Department designated Sergey Zelenyuk, Matrix LLC (OpZero) and Dubai-based Special Technology Services LLC FZ under PAIPA for theft of US trade secrets occurring on or after 5 January 2023, with full blocking effective 24 February 2026.
• Special Technology Services was listed not for its own theft but as owned or controlled by Zelenyuk under section 2(a)(1)(A)(iii), despite being established in December 2024.
• The Federal Reserve executed a consent prohibition on 12 November 2026 against former United Community Bank employee Katilyn M. Robinson over misappropriation of customer funds.
• At least five FINRA arbitration awards named firms and individuals while withholding the allegation, amount, period and disposition, a hazard when fed into U4, U5 or counterparty screens.

Executive summary

FINTRAC's 2025-26 annual report was the week's clearest binding financial-crime development. Canada's financial intelligence unit reported 35 notices of violation worth over $247 million, up 52% from the prior year and the largest amount in its history, and 82 money…

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.