Regulatory Alerts2025-08-28
FINTRAC imposes an administrative monetary penalty on British Columbia Lottery Corporation
FINTRAC imposed a $1,075,000 administrative monetary penalty on the British Columbia Lottery Corporation for violating Canada’s anti-money laundering and anti-terrorist financing regulations. The enforcement action follows a compliance examination that identified three specific violations: the failure to report suspicious transactions, the absence of policies for high-risk clients, and the lack of required special measures for those clients. This penalty reinforces the regulatory framework under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, which mandates strict reporting and compliance protocols for all designated businesses.
Share