Regulatory Alerts2025-12-04
FINTRAC imposes an administrative monetary penalty on Griffin Jewellery Designs Inc
FINTRAC has imposed a $77,137.50 administrative monetary penalty on Griffin Jewellery Designs Inc. for violating Canada’s anti-money laundering and terrorist financing regulations. The jewellery retailer was cited for failing to maintain updated compliance policies, document its risk assessments, and conduct mandatory biennial reviews of its compliance program. Griffin Jewellery Designs Inc. has paid the penalty in full, closing the enforcement action while reinforcing FINTRAC’s commitment to holding regulated entities accountable for their statutory obligations.
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