Broadcast time: 11:30Date: Monday, March 1, 2021Unit: Financial Crimes UnitPhone: 416-808-7300Case #: 2021-357486The Toronto Police Service has made several arrests in a year-long employment fraud investigation.In February 2020, 52 Division received numerous complaints about a suspected employment fraud targeting victims in the GTA.Working collaboratively, investigators from 52 Division, Fraud, Major Crime and the Financial Crimes Unit’s Mass Marketing Section launched the wide-scale investigation known as Project Drop.It is alleged that:- individuals were operating a sophisticated scam that included repeatedly sending out hundreds of thousands of SMS text messages to cellular phones across the GTA- the texts advertised employment opportunities for couriers to deliver loans for a small GTA based lending company- victims were instructed to pick up and deposit what they thought were legitimate business cheques, then pay funds to other individuals in cash, Bitcoin or e-transfer- all of the cheques were eventually discovered to be well-made forgeriesInvestigators were able to identify several individuals they allege are responsible for the fraud. This resulted in members of the Financial Crimes Unit, 52 Division and 14 Division executing search warrants at locations in Toronto and Mississauga, including a a downtown Toronto condominium unit suspected to be the operations centre for this fraud scam.Officers seized cheque forging materials, electronic devices and SIM cards that were allegedly used to blast out the mass marketing texts, and arrested four people. It is also further alleged that one of the individuals arrested was in possession of fraudulent government identities under the name of Anne-Catherine Robert.Britanny Broad, 23 of Mississauga, is facing the following five charges:1. Fraud Over $50002. Conspiracy to Commit an Indictable Offence3. Possession of Counterfeit Mark4. Possession of Proceeds of Crime5. Identity TheftEnosch Falaise, 32 of Laval, Quebec, is facing the following four charges:1. Fraud Over $50002. Conspiracy to Commit an Indictable Offence3. Possession of Proceeds of Crime4. Having Instruments for CounterfeitingJerry Revolus, 29 of Laval, Quebec, is facing the following two charges:1. Fraud Over $50002. Conspiracy to Commit an Indictable OffenceSydney Saget, 35 of Longueil, Quebec, is facing the following two charges:1. Fraud Over $50002. Conspiracy to Commit an Indictable OffenceAll four were scheduled to appear at court on Saturday, February 27, 2021 at 10 a.m., at Old City Hall, 60 Queen Street West, room 112.The Toronto Police Service would like to thank the following agencies for their assistance: The Ministry of Finance and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).If you believe you have been a victim of similar circumstances, or any other fraud, contact your local police.For further information on fraud and preventative strategies, visit the Canadian Anti-Fraud Centre website @ https://www.antifraudcentre-centreantifraude.ca/index-eng.htm.Anyone with information is asked to contact police at 416-808-7300, Crime Stoppers anonymously at 416-222-TIPS (8477), online at www.222tips.com, online on our Facebook Leave a Tip page, or text TOR and your message to CRIMES (274637). Download the free Crime Stoppers Mobile App on iTunes or Google Play.For more news, visit TPSnews.ca.

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Broadcast time: 11:30Date: Monday, March 1, 2021Unit: Financial Crimes UnitPhone: 416-808-7300Case #: 2021-357486The Toronto Police Service has made several arrests in a year-long employment fraud investigation.In February 2020, 52 Division received numerous complaints about a suspected employment fraud targeting victims in the GTA.Working collaboratively, investigators from 52 Division, Fraud, Major Crime and the Financial Crimes Unit’s Mass Marketing Section launched the wide-scale investigation known as Project Drop.It is alleged that:- individuals were operating a sophisticated scam that included repeatedly sending out hundreds of thousands of SMS text messages to cellular phones across the GTA- the texts advertised employment opportunities for couriers to deliver loans for a small GTA based lending company- victims were instructed to pick up and deposit what they thought were legitimate business cheques, then pay funds to other individuals in cash, Bitcoin or e-transfer- all of the cheques were eventually discovered to be well-made forgeriesInvestigators were able to identify several individuals they allege are responsible for the fraud. This resulted in members of the Financial Crimes Unit, 52 Division and 14 Division executing search warrants at locations in Toronto and Mississauga, including a a downtown Toronto condominium unit suspected to be the operations centre for this fraud scam.Officers seized cheque forging materials, electronic devices and SIM cards that were allegedly used to blast out the mass marketing texts, and arrested four people. It is also further alleged that one of the individuals arrested was in possession of fraudulent government identities under the name of Anne-Catherine Robert.Britanny Broad, 23 of Mississauga, is facing the following five charges:1. Fraud Over $50002. Conspiracy to Commit an Indictable Offence3. Possession of Counterfeit Mark4. Possession of Proceeds of Crime5. Identity TheftEnosch Falaise, 32 of Laval, Quebec, is facing the following four charges:1. Fraud Over $50002. Conspiracy to Commit an Indictable Offence3. Possession of Proceeds of Crime4. Having Instruments for CounterfeitingJerry Revolus, 29 of Laval, Quebec, is facing the following two charges:1. Fraud Over $50002. Conspiracy to Commit an Indictable OffenceSydney Saget, 35 of Longueil, Quebec, is facing the following two charges:1. Fraud Over $50002. Conspiracy to Commit an Indictable OffenceAll four were scheduled to appear at court on Saturday, February 27, 2021 at 10 a.m., at Old City Hall, 60 Queen Street West, room 112.The Toronto Police Service would like to thank the following agencies for their assistance: The Ministry of Finance and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).If you believe you have been a victim of similar circumstances, or any other fraud, contact your local police.For further information on fraud and preventative strategies, visit the Canadian Anti-Fraud Centre website @ https://www.antifraudcentre-centreantifraude.ca/index-eng.htm.Anyone with information is asked to contact police at 416-808-7300, Crime Stoppers anonymously at 416-222-TIPS (8477), online at www.222tips.com, online on our Facebook Leave a Tip page, or text TOR and your message to CRIMES (274637). Download the free Crime Stoppers Mobile App on iTunes or Google Play.For more news, visit TPSnews.ca.

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Broadcast time: 11:30Date: Monday, March 1, 2021Unit: Financial Crimes UnitPhone: 416-808-7300Case #: 2021-357486The Toronto Police Service has made several arrests in a year-long employment fraud investigation.In February 2020, 52 Division received numerous complaints about a suspected employment fraud targeting victims in the GTA.Working collaboratively, investigators from 52 Division, Fraud, Major Crime and the Financial Crimes Unit’s Mass Marketing Section launched the wide-scale investigation known as Project Drop.It is alleged that:- individuals were operating a sophisticated scam that included repeatedly sending out hundreds of thousands of SMS text messages to cellular phones across the GTA- the texts advertised employment opportunities for couriers to deliver loans for a small GTA based lending company- victims were instructed to pick up and deposit what they thought were legitimate business cheques, then pay funds to other individuals in cash, Bitcoin or e-transfer- all of the cheques were eventually discovered to be well-made forgeriesInvestigators were able to identify several individuals they allege are responsible for the fraud. This resulted in members of the Financial Crimes Unit, 52 Division and 14 Division executing search warrants at locations in Toronto and Mississauga, including a a downtown Toronto condominium unit suspected to be the operations centre for this fraud scam.Officers seized cheque forging materials, electronic devices and SIM cards that were allegedly used to blast out the mass marketing texts, and arrested four people. It is also further alleged that one of the individuals arrested was in possession of fraudulent government identities under the name of Anne-Catherine Robert.Britanny Broad, 23 of Mississauga, is facing the following five charges:1. Fraud Over $50002. Conspiracy to Commit an Indictable Offence3. Possession of Counterfeit Mark4. Possession of Proceeds of Crime5. Identity TheftEnosch Falaise, 32 of Laval, Quebec, is facing the following four charges:1. Fraud Over $50002. Conspiracy to Commit an Indictable Offence3. Possession of Proceeds of Crime4. Having Instruments for CounterfeitingJerry Revolus, 29 of Laval, Quebec, is facing the following two charges:1. Fraud Over $50002. Conspiracy to Commit an Indictable OffenceSydney Saget, 35 of Longueil, Quebec, is facing the following two charges:1. Fraud Over $50002. Conspiracy to Commit an Indictable OffenceAll four were scheduled to appear at court on Saturday, February 27, 2021 at 10 a.m., at Old City Hall, 60 Queen Street West, room 112.The Toronto Police Service would like to thank the following agencies for their assistance: The Ministry of Finance and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).If you believe you have been a victim of similar circumstances, or any other fraud, contact your local police.For further information on fraud and preventative strategies, visit the Canadian Anti-Fraud Centre website @ https://www.antifraudcentre-centreantifraude.ca/index-eng.htm.Anyone with information is asked to contact police at 416-808-7300, Crime Stoppers anonymously at 416-222-TIPS (8477), online at www.222tips.com, online on our Facebook Leave a Tip page, or text TOR and your message to CRIMES (274637). Download the free Crime Stoppers Mobile App on iTunes or Google Play.For more news, visit TPSnews.ca.

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Broadcast time: 11:30Date: Monday, March 1, 2021Unit: Financial Crimes UnitPhone: 416-808-7300Case #: 2021-357486The Toronto Police Service has made several arrests in a year-long employment fraud investigation.In February 2020, 52 Division received numerous complaints about a suspected employment fraud targeting victims in the GTA.Working collaboratively, investigators from 52 Division, Fraud, Major Crime and the Financial Crimes Unit’s Mass Marketing Section launched the wide-scale investigation known as Project Drop.It is alleged that:- individuals were operating a sophisticated scam that included repeatedly sending out hundreds of thousands of SMS text messages to cellular phones across the GTA- the texts advertised employment opportunities for couriers to deliver loans for a small GTA based lending company- victims were instructed to pick up and deposit what they thought were legitimate business cheques, then pay funds to other individuals in cash, Bitcoin or e-transfer- all of the cheques were eventually discovered to be well-made forgeriesInvestigators were able to identify several individuals they allege are responsible for the fraud. This resulted in members of the Financial Crimes Unit, 52 Division and 14 Division executing search warrants at locations in Toronto and Mississauga, including a a downtown Toronto condominium unit suspected to be the operations centre for this fraud scam.Officers seized cheque forging materials, electronic devices and SIM cards that were allegedly used to blast out the mass marketing texts, and arrested four people. It is also further alleged that one of the individuals arrested was in possession of fraudulent government identities under the name of Anne-Catherine Robert.Britanny Broad, 23 of Mississauga, is facing the following five charges:1. Fraud Over $50002. Conspiracy to Commit an Indictable Offence3. Possession of Counterfeit Mark4. Possession of Proceeds of Crime5. Identity TheftEnosch Falaise, 32 of Laval, Quebec, is facing the following four charges:1. Fraud Over $50002. Conspiracy to Commit an Indictable Offence3. Possession of Proceeds of Crime4. Having Instruments for CounterfeitingJerry Revolus, 29 of Laval, Quebec, is facing the following two charges:1. Fraud Over $50002. Conspiracy to Commit an Indictable OffenceSydney Saget, 35 of Longueil, Quebec, is facing the following two charges:1. Fraud Over $50002. Conspiracy to Commit an Indictable OffenceAll four were scheduled to appear at court on Saturday, February 27, 2021 at 10 a.m., at Old City Hall, 60 Queen Street West, room 112.The Toronto Police Service would like to thank the following agencies for their assistance: The Ministry of Finance and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).If you believe you have been a victim of similar circumstances, or any other fraud, contact your local police.For further information on fraud and preventative strategies, visit the Canadian Anti-Fraud Centre website @ https://www.antifraudcentre-centreantifraude.ca/index-eng.htm.Anyone with information is asked to contact police at 416-808-7300, Crime Stoppers anonymously at 416-222-TIPS (8477), online at www.222tips.com, online on our Facebook Leave a Tip page, or text TOR and your message to CRIMES (274637). Download the free Crime Stoppers Mobile App on iTunes or Google Play.For more news, visit TPSnews.ca.

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FINTRAC imposes an administrative monetary penalty on C&Z Holdings Ltd.

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FINTRAC announced today that it has imposed an administrative monetary penalty on C&Z Holdings Ltd. operating as Golden Apple. This money services business in Vancouver, British Columbia, was imposed an administrative monetary penalty of $101,969 on December 29, 2020, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
C&Z Holdings Ltd. was found to have committed the following violations:
Failure to submit Large Cash Transaction Reports for the receipt of $10,000 or more in cash;
Failure to include in outgoing Electronic Funds Transfer Reports information in the prescribed form and manner;
Failure to develop and apply written compliance policies and procedures related to reporting financial transactions, ongoing monitoring of business relationships and politically exposed persons and heads of an international organization;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic locations, products and delivery channels, and clients and business relationships;
Failure to maintain an ongoing training program;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program;
Failure to keep prescribed information where an amount of $1,000 or more is remitted or transmitted;
Failure to keep a record of the purpose and intended nature of business relationships; and
Failure to notify FINTRAC of a change to a money services business registration information.

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
As Canada’s financial intelligence unit and anti-money laundering and anti-terrorist financing regulator, FINTRAC ensures that businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act comply with their obligations under the Act and its Regulations. The Centre also analyzes information and discloses financial intelligence to police, law enforcement and national security agencies to assist their investigations of money laundering, terrorist activity financing and threats to the security of Canada.
Casinos, financial entities, money services businesses, real estate brokers and sales representatives and several other business sectors are required under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to keep certain records, identify clients, maintain a compliance regime and report certain financial transactions to FINTRAC.
FINTRAC’s revised Administrative Monetary Penalties policy is one of the most open and transparent penalty programs of its kind, including in relation to penalty calculations.
With the changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act in 2019, FINTRAC is required to make public the name of all persons and entities that receive an administrative monetary penalty.
Related Products
Contacts
Media RelationsFinancial Transactions and Reports Analysis Centre of Canada613-947-6875
[email protected].

[Read More] […]

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FINTRAC imposes an administrative monetary penalty on C&Z Holdings Ltd.

You are here:

FINTRAC announced today that it has imposed an administrative monetary penalty on C&Z Holdings Ltd. operating as Golden Apple. This money services business in Vancouver, British Columbia, was imposed an administrative monetary penalty of $101,969 on December 29, 2020, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
C&Z Holdings Ltd. was found to have committed the following violations:
Failure to submit Large Cash Transaction Reports for the receipt of $10,000 or more in cash;
Failure to include in outgoing Electronic Funds Transfer Reports information in the prescribed form and manner;
Failure to develop and apply written compliance policies and procedures related to reporting financial transactions, ongoing monitoring of business relationships and politically exposed persons and heads of an international organization;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic locations, products and delivery channels, and clients and business relationships;
Failure to maintain an ongoing training program;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program;
Failure to keep prescribed information where an amount of $1,000 or more is remitted or transmitted;
Failure to keep a record of the purpose and intended nature of business relationships; and
Failure to notify FINTRAC of a change to a money services business registration information.

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
As Canada’s financial intelligence unit and anti-money laundering and anti-terrorist financing regulator, FINTRAC ensures that businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act comply with their obligations under the Act and its Regulations. The Centre also analyzes information and discloses financial intelligence to police, law enforcement and national security agencies to assist their investigations of money laundering, terrorist activity financing and threats to the security of Canada.
Casinos, financial entities, money services businesses, real estate brokers and sales representatives and several other business sectors are required under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to keep certain records, identify clients, maintain a compliance regime and report certain financial transactions to FINTRAC.
FINTRAC’s revised Administrative Monetary Penalties policy is one of the most open and transparent penalty programs of its kind, including in relation to penalty calculations.
With the changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act in 2019, FINTRAC is required to make public the name of all persons and entities that receive an administrative monetary penalty.
Related Products
Contacts
Media RelationsFinancial Transactions and Reports Analysis Centre of Canada613-947-6875
[email protected].

[Read More] […]

Read More…

FINTRAC imposes an administrative monetary penalty on C&Z Holdings Ltd.

You are here:

FINTRAC announced today that it has imposed an administrative monetary penalty on C&Z Holdings Ltd. operating as Golden Apple. This money services business in Vancouver, British Columbia, was imposed an administrative monetary penalty of $101,969 on December 29, 2020, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
C&Z Holdings Ltd. was found to have committed the following violations:
Failure to submit Large Cash Transaction Reports for the receipt of $10,000 or more in cash;
Failure to include in outgoing Electronic Funds Transfer Reports information in the prescribed form and manner;
Failure to develop and apply written compliance policies and procedures related to reporting financial transactions, ongoing monitoring of business relationships and politically exposed persons and heads of an international organization;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic locations, products and delivery channels, and clients and business relationships;
Failure to maintain an ongoing training program;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program;
Failure to keep prescribed information where an amount of $1,000 or more is remitted or transmitted;
Failure to keep a record of the purpose and intended nature of business relationships; and
Failure to notify FINTRAC of a change to a money services business registration information.

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
As Canada’s financial intelligence unit and anti-money laundering and anti-terrorist financing regulator, FINTRAC ensures that businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act comply with their obligations under the Act and its Regulations. The Centre also analyzes information and discloses financial intelligence to police, law enforcement and national security agencies to assist their investigations of money laundering, terrorist activity financing and threats to the security of Canada.
Casinos, financial entities, money services businesses, real estate brokers and sales representatives and several other business sectors are required under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to keep certain records, identify clients, maintain a compliance regime and report certain financial transactions to FINTRAC.
FINTRAC’s revised Administrative Monetary Penalties policy is one of the most open and transparent penalty programs of its kind, including in relation to penalty calculations.
With the changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act in 2019, FINTRAC is required to make public the name of all persons and entities that receive an administrative monetary penalty.
Related Products
Contacts
Media RelationsFinancial Transactions and Reports Analysis Centre of Canada613-947-6875
[email protected].

[Read More] […]

Read More…

FINTRAC imposes an administrative monetary penalty on C&Z Holdings Ltd.

You are here:

FINTRAC announced today that it has imposed an administrative monetary penalty on C&Z Holdings Ltd. operating as Golden Apple. This money services business in Vancouver, British Columbia, was imposed an administrative monetary penalty of $101,969 on December 29, 2020, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
C&Z Holdings Ltd. was found to have committed the following violations:
Failure to submit Large Cash Transaction Reports for the receipt of $10,000 or more in cash;
Failure to include in outgoing Electronic Funds Transfer Reports information in the prescribed form and manner;
Failure to develop and apply written compliance policies and procedures related to reporting financial transactions, ongoing monitoring of business relationships and politically exposed persons and heads of an international organization;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic locations, products and delivery channels, and clients and business relationships;
Failure to maintain an ongoing training program;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program;
Failure to keep prescribed information where an amount of $1,000 or more is remitted or transmitted;
Failure to keep a record of the purpose and intended nature of business relationships; and
Failure to notify FINTRAC of a change to a money services business registration information.

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
As Canada’s financial intelligence unit and anti-money laundering and anti-terrorist financing regulator, FINTRAC ensures that businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act comply with their obligations under the Act and its Regulations. The Centre also analyzes information and discloses financial intelligence to police, law enforcement and national security agencies to assist their investigations of money laundering, terrorist activity financing and threats to the security of Canada.
Casinos, financial entities, money services businesses, real estate brokers and sales representatives and several other business sectors are required under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to keep certain records, identify clients, maintain a compliance regime and report certain financial transactions to FINTRAC.
FINTRAC’s revised Administrative Monetary Penalties policy is one of the most open and transparent penalty programs of its kind, including in relation to penalty calculations.
With the changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act in 2019, FINTRAC is required to make public the name of all persons and entities that receive an administrative monetary penalty.
Related Products
Contacts
Media RelationsFinancial Transactions and Reports Analysis Centre of Canada613-947-6875
[email protected].

[Read More] […]

Read More…

FINTRAC imposes an administrative monetary penalty on C&Z Holdings Ltd.

You are here:

FINTRAC announced today that it has imposed an administrative monetary penalty on C&Z Holdings Ltd. operating as Golden Apple. This money services business in Vancouver, British Columbia, was imposed an administrative monetary penalty of $101,969 on December 29, 2020, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
C&Z Holdings Ltd. was found to have committed the following violations:
Failure to submit Large Cash Transaction Reports for the receipt of $10,000 or more in cash;
Failure to include in outgoing Electronic Funds Transfer Reports information in the prescribed form and manner;
Failure to develop and apply written compliance policies and procedures related to reporting financial transactions, ongoing monitoring of business relationships and politically exposed persons and heads of an international organization;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic locations, products and delivery channels, and clients and business relationships;
Failure to maintain an ongoing training program;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program;
Failure to keep prescribed information where an amount of $1,000 or more is remitted or transmitted;
Failure to keep a record of the purpose and intended nature of business relationships; and
Failure to notify FINTRAC of a change to a money services business registration information.

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
As Canada’s financial intelligence unit and anti-money laundering and anti-terrorist financing regulator, FINTRAC ensures that businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act comply with their obligations under the Act and its Regulations. The Centre also analyzes information and discloses financial intelligence to police, law enforcement and national security agencies to assist their investigations of money laundering, terrorist activity financing and threats to the security of Canada.
Casinos, financial entities, money services businesses, real estate brokers and sales representatives and several other business sectors are required under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to keep certain records, identify clients, maintain a compliance regime and report certain financial transactions to FINTRAC.
FINTRAC’s revised Administrative Monetary Penalties policy is one of the most open and transparent penalty programs of its kind, including in relation to penalty calculations.
With the changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act in 2019, FINTRAC is required to make public the name of all persons and entities that receive an administrative monetary penalty.
Related Products
Contacts
Media RelationsFinancial Transactions and Reports Analysis Centre of Canada613-947-6875
[email protected].

[Read More] […]

Read More…

FINTRAC imposes an administrative monetary penalty on C&Z Holdings Ltd.

You are here:

FINTRAC announced today that it has imposed an administrative monetary penalty on C&Z Holdings Ltd. operating as Golden Apple. This money services business in Vancouver, British Columbia, was imposed an administrative monetary penalty of $101,969 on December 29, 2020, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
C&Z Holdings Ltd. was found to have committed the following violations:
Failure to submit Large Cash Transaction Reports for the receipt of $10,000 or more in cash;
Failure to include in outgoing Electronic Funds Transfer Reports information in the prescribed form and manner;
Failure to develop and apply written compliance policies and procedures related to reporting financial transactions, ongoing monitoring of business relationships and politically exposed persons and heads of an international organization;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic locations, products and delivery channels, and clients and business relationships;
Failure to maintain an ongoing training program;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program;
Failure to keep prescribed information where an amount of $1,000 or more is remitted or transmitted;
Failure to keep a record of the purpose and intended nature of business relationships; and
Failure to notify FINTRAC of a change to a money services business registration information.

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
As Canada’s financial intelligence unit and anti-money laundering and anti-terrorist financing regulator, FINTRAC ensures that businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act comply with their obligations under the Act and its Regulations. The Centre also analyzes information and discloses financial intelligence to police, law enforcement and national security agencies to assist their investigations of money laundering, terrorist activity financing and threats to the security of Canada.
Casinos, financial entities, money services businesses, real estate brokers and sales representatives and several other business sectors are required under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to keep certain records, identify clients, maintain a compliance regime and report certain financial transactions to FINTRAC.
FINTRAC’s revised Administrative Monetary Penalties policy is one of the most open and transparent penalty programs of its kind, including in relation to penalty calculations.
With the changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act in 2019, FINTRAC is required to make public the name of all persons and entities that receive an administrative monetary penalty.
Related Products
Contacts
Media RelationsFinancial Transactions and Reports Analysis Centre of Canada613-947-6875
[email protected].

[Read More] […]

Read More…

FINTRAC imposes an administrative monetary penalty on C&Z Holdings Ltd.

You are here:

FINTRAC announced today that it has imposed an administrative monetary penalty on C&Z Holdings Ltd. operating as Golden Apple. This money services business in Vancouver, British Columbia, was imposed an administrative monetary penalty of $101,969 on December 29, 2020, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
C&Z Holdings Ltd. was found to have committed the following violations:
Failure to submit Large Cash Transaction Reports for the receipt of $10,000 or more in cash;
Failure to include in outgoing Electronic Funds Transfer Reports information in the prescribed form and manner;
Failure to develop and apply written compliance policies and procedures related to reporting financial transactions, ongoing monitoring of business relationships and politically exposed persons and heads of an international organization;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic locations, products and delivery channels, and clients and business relationships;
Failure to maintain an ongoing training program;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program;
Failure to keep prescribed information where an amount of $1,000 or more is remitted or transmitted;
Failure to keep a record of the purpose and intended nature of business relationships; and
Failure to notify FINTRAC of a change to a money services business registration information.

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
As Canada’s financial intelligence unit and anti-money laundering and anti-terrorist financing regulator, FINTRAC ensures that businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act comply with their obligations under the Act and its Regulations. The Centre also analyzes information and discloses financial intelligence to police, law enforcement and national security agencies to assist their investigations of money laundering, terrorist activity financing and threats to the security of Canada.
Casinos, financial entities, money services businesses, real estate brokers and sales representatives and several other business sectors are required under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to keep certain records, identify clients, maintain a compliance regime and report certain financial transactions to FINTRAC.
FINTRAC’s revised Administrative Monetary Penalties policy is one of the most open and transparent penalty programs of its kind, including in relation to penalty calculations.
With the changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act in 2019, FINTRAC is required to make public the name of all persons and entities that receive an administrative monetary penalty.
Related Products
Contacts
Media RelationsFinancial Transactions and Reports Analysis Centre of Canada613-947-6875
[email protected].

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FINTRAC imposes an administrative monetary penalty on C&Z Holdings Ltd.

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FINTRAC announced today that it has imposed an administrative monetary penalty on C&Z Holdings Ltd. operating as Golden Apple. This money services business in Vancouver, British Columbia, was imposed an administrative monetary penalty of $101,969 on December 29, 2020, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
C&Z Holdings Ltd. was found to have committed the following violations:
Failure to submit Large Cash Transaction Reports for the receipt of $10,000 or more in cash;
Failure to include in outgoing Electronic Funds Transfer Reports information in the prescribed form and manner;
Failure to develop and apply written compliance policies and procedures related to reporting financial transactions, ongoing monitoring of business relationships and politically exposed persons and heads of an international organization;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic locations, products and delivery channels, and clients and business relationships;
Failure to maintain an ongoing training program;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program;
Failure to keep prescribed information where an amount of $1,000 or more is remitted or transmitted;
Failure to keep a record of the purpose and intended nature of business relationships; and
Failure to notify FINTRAC of a change to a money services business registration information.

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
As Canada’s financial intelligence unit and anti-money laundering and anti-terrorist financing regulator, FINTRAC ensures that businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act comply with their obligations under the Act and its Regulations. The Centre also analyzes information and discloses financial intelligence to police, law enforcement and national security agencies to assist their investigations of money laundering, terrorist activity financing and threats to the security of Canada.
Casinos, financial entities, money services businesses, real estate brokers and sales representatives and several other business sectors are required under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to keep certain records, identify clients, maintain a compliance regime and report certain financial transactions to FINTRAC.
FINTRAC’s revised Administrative Monetary Penalties policy is one of the most open and transparent penalty programs of its kind, including in relation to penalty calculations.
With the changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act in 2019, FINTRAC is required to make public the name of all persons and entities that receive an administrative monetary penalty.
Related Products
Contacts
Media RelationsFinancial Transactions and Reports Analysis Centre of Canada613-947-6875
[email protected].

[Read More] […]

Read More…

FINTRAC imposes an administrative monetary penalty on C&Z Holdings Ltd.

You are here:

FINTRAC announced today that it has imposed an administrative monetary penalty on C&Z Holdings Ltd. operating as Golden Apple. This money services business in Vancouver, British Columbia, was imposed an administrative monetary penalty of $101,969 on December 29, 2020, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
C&Z Holdings Ltd. was found to have committed the following violations:
Failure to submit Large Cash Transaction Reports for the receipt of $10,000 or more in cash;
Failure to include in outgoing Electronic Funds Transfer Reports information in the prescribed form and manner;
Failure to develop and apply written compliance policies and procedures related to reporting financial transactions, ongoing monitoring of business relationships and politically exposed persons and heads of an international organization;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic locations, products and delivery channels, and clients and business relationships;
Failure to maintain an ongoing training program;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program;
Failure to keep prescribed information where an amount of $1,000 or more is remitted or transmitted;
Failure to keep a record of the purpose and intended nature of business relationships; and
Failure to notify FINTRAC of a change to a money services business registration information.

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
As Canada’s financial intelligence unit and anti-money laundering and anti-terrorist financing regulator, FINTRAC ensures that businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act comply with their obligations under the Act and its Regulations. The Centre also analyzes information and discloses financial intelligence to police, law enforcement and national security agencies to assist their investigations of money laundering, terrorist activity financing and threats to the security of Canada.
Casinos, financial entities, money services businesses, real estate brokers and sales representatives and several other business sectors are required under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to keep certain records, identify clients, maintain a compliance regime and report certain financial transactions to FINTRAC.
FINTRAC’s revised Administrative Monetary Penalties policy is one of the most open and transparent penalty programs of its kind, including in relation to penalty calculations.
With the changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act in 2019, FINTRAC is required to make public the name of all persons and entities that receive an administrative monetary penalty.
Related Products
Contacts
Media RelationsFinancial Transactions and Reports Analysis Centre of Canada613-947-6875
[email protected].

[Read More] […]

Read More…

FINTRAC imposes an administrative monetary penalty on C&Z Holdings Ltd.

You are here:

FINTRAC announced today that it has imposed an administrative monetary penalty on C&Z Holdings Ltd. operating as Golden Apple. This money services business in Vancouver, British Columbia, was imposed an administrative monetary penalty of $101,969 on December 29, 2020, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
C&Z Holdings Ltd. was found to have committed the following violations:
Failure to submit Large Cash Transaction Reports for the receipt of $10,000 or more in cash;
Failure to include in outgoing Electronic Funds Transfer Reports information in the prescribed form and manner;
Failure to develop and apply written compliance policies and procedures related to reporting financial transactions, ongoing monitoring of business relationships and politically exposed persons and heads of an international organization;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic locations, products and delivery channels, and clients and business relationships;
Failure to maintain an ongoing training program;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program;
Failure to keep prescribed information where an amount of $1,000 or more is remitted or transmitted;
Failure to keep a record of the purpose and intended nature of business relationships; and
Failure to notify FINTRAC of a change to a money services business registration information.

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
As Canada’s financial intelligence unit and anti-money laundering and anti-terrorist financing regulator, FINTRAC ensures that businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act comply with their obligations under the Act and its Regulations. The Centre also analyzes information and discloses financial intelligence to police, law enforcement and national security agencies to assist their investigations of money laundering, terrorist activity financing and threats to the security of Canada.
Casinos, financial entities, money services businesses, real estate brokers and sales representatives and several other business sectors are required under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to keep certain records, identify clients, maintain a compliance regime and report certain financial transactions to FINTRAC.
FINTRAC’s revised Administrative Monetary Penalties policy is one of the most open and transparent penalty programs of its kind, including in relation to penalty calculations.
With the changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act in 2019, FINTRAC is required to make public the name of all persons and entities that receive an administrative monetary penalty.
Related Products
Contacts
Media RelationsFinancial Transactions and Reports Analysis Centre of Canada613-947-6875
[email protected].

[Read More] […]

Read More…