TORONTO — Canada’s financial intelligence agency says it has imposed an administrative penalty of $2.46 million against Exchange Bank of Canada for non-compliance with money-laundering rules. Fintrac says it found Exchange Bank of Canada failed to submit suspicious transaction reports when there were reasonable grounds to do so, failed to conduct ongoing monitoring of business relationships and failed to report $10,000 or more in cash in a single transaction. https://www.bnnbloomberg.ca/business/company-news/2024/12/11/exchange-bank-of-canada-fined-246m-by-fintrac-for-anti-money-laundering-failures/