Regulatory Alerts2026-02-10
FINTRAC imposes an administrative monetary penalty on Century 21 Heritage Group Ltd
FINTRAC imposed a $148,912.50 administrative monetary penalty on Ontario-based real estate brokerage Century 21 Heritage Group Ltd. for failing to submit required suspicious transaction reports under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. The penalty follows a compliance examination that identified the brokerage's failure to report transactions where reasonable grounds existed to suspect money laundering or terrorist financing. This enforcement action reinforces FINTRAC's mandate to deter regulatory non-compliance and safeguard Canada's financial system by ensuring critical financial intelligence reaches law enforcement agencies.
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