FINTRAC imposes an administrative monetary penalty on Sokhom Ung, operating as Bureau de change Saint-Michel

FINTRAC announced today that it has imposed an administrative monetary penalty on Sokhom Ung, also operating as Bureau de Change Saint-Michel. This money services business in Montréal, Quebec, was imposed an administrative monetary penalty of $33,000 on June 10, 2021, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.

Sokhom Ung was found to have committed the following violation:

Quote

“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. FINTRAC is committed to working with businesses to help them understand and comply with their obligations under the Act. At the same time, we will be firm in ensuring that businesses continue to do their part and we will take appropriate actions when they are needed.”

Sarah Paquet, Director and Chief Executive Officer, Financial Transactions and Reports Analysis Centre of Canada

Quick Facts

Related Products

Contacts

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

media.medias@fintrac-canafe.gc.ca

Twitter: @FINTRAC_Canada

Date Modified: