Regulatory Alerts2022-05-10
FINTRAC imposes an administrative monetary penalty on 9293-0809 Québec Inc.
FINTRAC has imposed a $101,227 administrative monetary penalty on Montréal-based real estate broker 9293-0809 Québec Inc. (Groupe Sam's Globale) for failing to comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. The enforcement action addresses six specific violations, including the absence of a designated compliance officer, missing internal policies and training programs, inadequate risk assessments, and failure to maintain required client identification and transaction records. Published under mandatory 2019 legislative amendments, this public notice underscores FINTRAC’s commitment to transparent enforcement and strict regulatory adherence across all sectors subject to Canada’s anti-money laundering framework.