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

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

Financial crime this week was dominated by one annual report that genuinely binds and a scatter of US actions that name people without stating what they did. FINTRAC turned registration into an enforcement tool, the State Department ran PAIPA as a designation instrument, and the Fed barred a named bank employee. We rank what matters and flag the screening trap in between.

• FINTRAC issued 35 notices of violation worth over $247 million, up 52% and a record, 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, with Special Technology Services listed as owned or controlled by Zelenyuk, effective 24 February 2026.
• The Federal Reserve executed a consent prohibition against Katilyn M. Robinson, a former United Community Bank employee in Greenville, South Carolina, over misappropriation of customer funds.
• At least five FINRA arbitration awards and the Fed order named parties while withholding the allegation, amount, period and disposition, which can convert mere involvement into an apparent finding when fed into a U4, U5 or counterparty screen.

Executive summary

FINTRAC's 2025-26 annual report was the week's one financial-crime document that imposes consequences. 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 4,874…

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.