Canada’s financial intelligence unit has imposed a record C$19. 6 million ($14 million) fine on Peken Global Limited, operator of crypto exchange KuCoin, for failing to comply with anti-money laundering (AML) requirements. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) announced the penalty on Thursday, citing three violations. Largest Penalty Imposed by FINTRAC The Seychelles-based company did not register as a foreign money services business, and allegedly failed to report nearly 3,000 large virtual currency transactions above C$10,000 between 2021 and 2024
source: https://beincrypto.com/canada-fines-kucoin-14m-aml-breaches/