What Canada's C-12 reforms mean for your screening and monitoring

Built for compliance leaders at Canadian banks and payments firms, our speakers cover topics including:

• A new legal test, with material consequences: The PCMLTFA now requires compliance programs to be "reasonably designed, risk-based and effective" – with penalties up fortyfold, capped at the greater of $20 million or 3% of gross global revenue. Six months on, what do FINTRAC's first enforcement signals tell us about how the test will be applied?
• Your reporting output is now evidence: FINTRAC can question the effectiveness of a program that files fewer suspicious transaction reports than its peers. How should firms calibrate detection so that what they report – and what they don't – stands up to scrutiny?
• Effectiveness is a technology and data challenge: A policy can be documented; effective detection cannot. Where are legacy systems most likely to become the bottleneck, and what should firms demand from their technology providers?
• Provable effectiveness is an advantage: Defensible AI and clear auditability that satisfy regulators also deliver faster onboarding and teams that scale with growth. What separates firms treating C-12 as a compliance exercise from those turning it into a growth advantage?