FINTRAC

The federal government is proposing a change that would require Canada's anti-money laundering agency to be more transparent about banks that break the rules.

Manulife broke Canada's money laundering rules more than 1,200 times. Then it said it could sue the agency that got it to pay a $1.15 million penalty.

Analysts say there was no good justification to keep Manulife's name hidden for a year after it was penalized for violating reporting requirements in anti-money laundering law.

FINTRAC says it's reviewing its penalty policies to ensure they "strike an appropriate balance" between transparency and the law.

Canada’s financial intelligence agency has confirmed the name of a bank fined $1.15 million last year, but won’t answer questions about an agreement it signed to keep the bank's name secret.

Manulife has confirmed that it is the bank hit with a $1.15 million fine for breaking Canada's money laundering rules over 1,200 times.

Federal officials did not buy the explanation of Canada's financial intelligence agency for protecting the name of the bank that violated money-laundering rules.

An internal email, released through access to information legislation, shows that FINTRAC had shared some information in advance with Canadian bankers about the $1.1-million penalty.

Canada's financial intelligence agency is refusing to release the name of a bank that violated Canada's money-laundering laws 1,225 times. The bank received a $1.1 million penalty earlier this year.

After fining a Canadian bank $1.1 million, a financial spy agency is now pursuing a number of other large businesses in court for for sloppy oversight or failures to report suspicious activities.

The federal anti−money laundering agency has levied a $1.1−million penalty against an unnamed Canadian bank for failing to report a suspicious transaction and various money transfers.