November 6, 2020 – News Release: FINTRAC Announces Payment of an Administrative Monetary Penalty

FINTRAC announced today that it received payment of $147,015 for an administrative monetary penalty that the Centre had imposed on Loto-Québec in 2014, and which was the subject of a legal challenge. FINTRAC imposed the penalty for the following administrative deficiencies related to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its regulations:

These administrative deficiencies were found in a compliance examination held in 2012. FINTRAC determined in a subsequent examination in 2016 that Loto-Québec had moved to address these specific deficiencies.

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“FINTRAC is committed to working with businesses to help them understand and comply with their obligations under the Act. At the same time, they need to understand that Canada's Anti-Money Laundering and Anti-Terrorist Financing Regime is in place to protect the safety of Canadians and the security of Canada's economy, and that we will be firm in ensuring that they do their part.”

Nada Semaan, Director and Chief Executive Officer, Financial Transactions and Reports Analysis Centre of Canada

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Financial Transactions and Reports Analysis Centre of Canada
613-947-6875

media.medias@fintrac-canafe.gc.ca

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