FINTRAC imposes an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd.

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FINTRAC imposes an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd.

FINTRAC announced today that it has imposed an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd. This real estate broker in Chilliwack, British Columbia, was imposed an administrative monetary penalty of $59,235 on February 8, 2021, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
HomeLife Glenayre Realty Chilliwack Ltd. was found to have committed the following violations:

Failure to develop and apply written compliance policies and procedures that sufficiently addressed the requirements for reporting suspicious transactions and terrorist property, as well as client identification and record keeping;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic location, products and delivery channels, clients and business relationships, and new technologies;
Failure to include the frequency and delivery methods in its ongoing training program, as well as how training would be maintained on an ongoing basis;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program; and
Failure to keep all the prescribed information in client information records.

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 Administrative Monetary Penalties program is one of the most open and transparent 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 HomeLife Glenayre Realty Chilliwack Ltd.

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FINTRAC imposes an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd.

FINTRAC announced today that it has imposed an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd. This real estate broker in Chilliwack, British Columbia, was imposed an administrative monetary penalty of $59,235 on February 8, 2021, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
HomeLife Glenayre Realty Chilliwack Ltd. was found to have committed the following violations:

Failure to develop and apply written compliance policies and procedures that sufficiently addressed the requirements for reporting suspicious transactions and terrorist property, as well as client identification and record keeping;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic location, products and delivery channels, clients and business relationships, and new technologies;
Failure to include the frequency and delivery methods in its ongoing training program, as well as how training would be maintained on an ongoing basis;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program; and
Failure to keep all the prescribed information in client information records.

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 Administrative Monetary Penalties program is one of the most open and transparent 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 HomeLife Glenayre Realty Chilliwack Ltd.

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FINTRAC imposes an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd.

FINTRAC announced today that it has imposed an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd. This real estate broker in Chilliwack, British Columbia, was imposed an administrative monetary penalty of $59,235 on February 8, 2021, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
HomeLife Glenayre Realty Chilliwack Ltd. was found to have committed the following violations:

Failure to develop and apply written compliance policies and procedures that sufficiently addressed the requirements for reporting suspicious transactions and terrorist property, as well as client identification and record keeping;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic location, products and delivery channels, clients and business relationships, and new technologies;
Failure to include the frequency and delivery methods in its ongoing training program, as well as how training would be maintained on an ongoing basis;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program; and
Failure to keep all the prescribed information in client information records.

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 Administrative Monetary Penalties program is one of the most open and transparent 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 HomeLife Glenayre Realty Chilliwack Ltd.

You are here:

Home
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FINTRAC imposes an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd.

FINTRAC announced today that it has imposed an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd. This real estate broker in Chilliwack, British Columbia, was imposed an administrative monetary penalty of $59,235 on February 8, 2021, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
HomeLife Glenayre Realty Chilliwack Ltd. was found to have committed the following violations:

Failure to develop and apply written compliance policies and procedures that sufficiently addressed the requirements for reporting suspicious transactions and terrorist property, as well as client identification and record keeping;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic location, products and delivery channels, clients and business relationships, and new technologies;
Failure to include the frequency and delivery methods in its ongoing training program, as well as how training would be maintained on an ongoing basis;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program; and
Failure to keep all the prescribed information in client information records.

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 Administrative Monetary Penalties program is one of the most open and transparent 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 HomeLife Glenayre Realty Chilliwack Ltd.

You are here:

Home
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News releases
FINTRAC imposes an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd.

FINTRAC announced today that it has imposed an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd. This real estate broker in Chilliwack, British Columbia, was imposed an administrative monetary penalty of $59,235 on February 8, 2021, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
HomeLife Glenayre Realty Chilliwack Ltd. was found to have committed the following violations:

Failure to develop and apply written compliance policies and procedures that sufficiently addressed the requirements for reporting suspicious transactions and terrorist property, as well as client identification and record keeping;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic location, products and delivery channels, clients and business relationships, and new technologies;
Failure to include the frequency and delivery methods in its ongoing training program, as well as how training would be maintained on an ongoing basis;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program; and
Failure to keep all the prescribed information in client information records.

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 Administrative Monetary Penalties program is one of the most open and transparent 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 HomeLife Glenayre Realty Chilliwack Ltd.

You are here:

Home
News
News releases
FINTRAC imposes an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd.

FINTRAC announced today that it has imposed an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd. This real estate broker in Chilliwack, British Columbia, was imposed an administrative monetary penalty of $59,235 on February 8, 2021, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
HomeLife Glenayre Realty Chilliwack Ltd. was found to have committed the following violations:

Failure to develop and apply written compliance policies and procedures that sufficiently addressed the requirements for reporting suspicious transactions and terrorist property, as well as client identification and record keeping;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic location, products and delivery channels, clients and business relationships, and new technologies;
Failure to include the frequency and delivery methods in its ongoing training program, as well as how training would be maintained on an ongoing basis;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program; and
Failure to keep all the prescribed information in client information records.

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 Administrative Monetary Penalties program is one of the most open and transparent 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 HomeLife Glenayre Realty Chilliwack Ltd.

You are here:

Home
News
News releases
FINTRAC imposes an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd.

FINTRAC announced today that it has imposed an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd. This real estate broker in Chilliwack, British Columbia, was imposed an administrative monetary penalty of $59,235 on February 8, 2021, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
HomeLife Glenayre Realty Chilliwack Ltd. was found to have committed the following violations:

Failure to develop and apply written compliance policies and procedures that sufficiently addressed the requirements for reporting suspicious transactions and terrorist property, as well as client identification and record keeping;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic location, products and delivery channels, clients and business relationships, and new technologies;
Failure to include the frequency and delivery methods in its ongoing training program, as well as how training would be maintained on an ongoing basis;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program; and
Failure to keep all the prescribed information in client information records.

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 Administrative Monetary Penalties program is one of the most open and transparent 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 HomeLife Glenayre Realty Chilliwack Ltd.

You are here:

Home
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News releases
FINTRAC imposes an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd.

FINTRAC announced today that it has imposed an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd. This real estate broker in Chilliwack, British Columbia, was imposed an administrative monetary penalty of $59,235 on February 8, 2021, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
HomeLife Glenayre Realty Chilliwack Ltd. was found to have committed the following violations:

Failure to develop and apply written compliance policies and procedures that sufficiently addressed the requirements for reporting suspicious transactions and terrorist property, as well as client identification and record keeping;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic location, products and delivery channels, clients and business relationships, and new technologies;
Failure to include the frequency and delivery methods in its ongoing training program, as well as how training would be maintained on an ongoing basis;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program; and
Failure to keep all the prescribed information in client information records.

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 Administrative Monetary Penalties program is one of the most open and transparent 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 HomeLife Glenayre Realty Chilliwack Ltd.

You are here:

Home
News
News releases
FINTRAC imposes an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd.

FINTRAC announced today that it has imposed an administrative monetary penalty on HomeLife Glenayre Realty Chilliwack Ltd. This real estate broker in Chilliwack, British Columbia, was imposed an administrative monetary penalty of $59,235 on February 8, 2021, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
HomeLife Glenayre Realty Chilliwack Ltd. was found to have committed the following violations:

Failure to develop and apply written compliance policies and procedures that sufficiently addressed the requirements for reporting suspicious transactions and terrorist property, as well as client identification and record keeping;
Failure to assess and document the money laundering or terrorist activity financing risks of its geographic location, products and delivery channels, clients and business relationships, and new technologies;
Failure to include the frequency and delivery methods in its ongoing training program, as well as how training would be maintained on an ongoing basis;
Failure to institute and document the prescribed review of its compliance policies and procedures, risk assessment and training program; and
Failure to keep all the prescribed information in client information records.

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 Administrative Monetary Penalties program is one of the most open and transparent 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 signs a Memorandum of Understanding with the Organisme d’autoréglementation du courtage immobilier du Québec

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FINTRAC signs a Memorandum of Understanding with the Organisme d’autoréglementation du courtage immobilier du Québec

FINTRAC announced today that it has signed a Memorandum of Understanding with the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) to allow for the sharing of compliance-related information in order to help strengthen the compliance of the Quebec real estate sector with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, and to reduce duplication of effort and compliance burden for real estate brokerages in Quebec.
Under this Memorandum of Understanding, FINTRAC and the OACIQ will share compliance-related information such as lists of persons and entities subject to their respective Acts and Regulations as well as compliance examination plans, resulting in more coordinated and risk-informed examinations.
The sharing of compliance-related information facilitated by this Memorandum of Understanding will also help to enhance the knowledge and expertise of each organization regarding new and evolving risks and trends in the real estate sector in Quebec and across Canada.
Quotes

“We are pleased to work with the Organisme d’autoréglementation du courtage immobilier du Québec to more effectively combat money laundering and terrorist activity financing in the real estate sector. Together, we will strengthen oversight in this sector, reduce duplication and help to protect Canadians and Canada’s economy.”
Sarah Paquet, Director and Chief Executive Officer, Financial Transactions and Reports Analysis Centre of Canada

“The signing of this agreement with FINTRAC adds another tool in the fight against money laundering. We are very proud of the OACIQ’s participation in this initiative designed to improve the effectiveness of oversight by each organization.”
Me Caroline Champagne, Vice-President, Enforcement of Practices, Organisme d’autoréglementation du courtage immobilier du Québec

Quick Facts

FINTRAC has 16 active compliance Memoranda of Understanding with federal and provincial partners to strengthen its ability to ensure compliance across various sectors. These agreements allow FINTRAC to coordinate examinations with regulatory bodies and share the results, minimize overlap and the duplication of effort, and reduce the burden on Canadian businesses.
In 2019–20, FINTRAC conducted 399 compliance examinations across the country, the largest number of which was focused on the real estate sector (146).
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.
In 2019–20, FINTRAC provided 2,057 unique disclosures of actionable financial intelligence in support of investigations related to money laundering, terrorist activity financing and threats to the security of Canada.

Associated Links

Contacts
Media RelationsFinancial Transactions and Reports Analysis Centre of Canada613-947-6875
[email protected].

[Read More] […]

Read More…

FINTRAC signs a Memorandum of Understanding with the Organisme d’autoréglementation du courtage immobilier du Québec

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FINTRAC signs a Memorandum of Understanding with the Organisme d’autoréglementation du courtage immobilier du Québec

FINTRAC announced today that it has signed a Memorandum of Understanding with the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) to allow for the sharing of compliance-related information in order to help strengthen the compliance of the Quebec real estate sector with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, and to reduce duplication of effort and compliance burden for real estate brokerages in Quebec.
Under this Memorandum of Understanding, FINTRAC and the OACIQ will share compliance-related information such as lists of persons and entities subject to their respective Acts and Regulations as well as compliance examination plans, resulting in more coordinated and risk-informed examinations.
The sharing of compliance-related information facilitated by this Memorandum of Understanding will also help to enhance the knowledge and expertise of each organization regarding new and evolving risks and trends in the real estate sector in Quebec and across Canada.
Quotes

“We are pleased to work with the Organisme d’autoréglementation du courtage immobilier du Québec to more effectively combat money laundering and terrorist activity financing in the real estate sector. Together, we will strengthen oversight in this sector, reduce duplication and help to protect Canadians and Canada’s economy.”
Sarah Paquet, Director and Chief Executive Officer, Financial Transactions and Reports Analysis Centre of Canada

“The signing of this agreement with FINTRAC adds another tool in the fight against money laundering. We are very proud of the OACIQ’s participation in this initiative designed to improve the effectiveness of oversight by each organization.”
Me Caroline Champagne, Vice-President, Enforcement of Practices, Organisme d’autoréglementation du courtage immobilier du Québec

Quick Facts

FINTRAC has 16 active compliance Memoranda of Understanding with federal and provincial partners to strengthen its ability to ensure compliance across various sectors. These agreements allow FINTRAC to coordinate examinations with regulatory bodies and share the results, minimize overlap and the duplication of effort, and reduce the burden on Canadian businesses.
In 2019–20, FINTRAC conducted 399 compliance examinations across the country, the largest number of which was focused on the real estate sector (146).
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.
In 2019–20, FINTRAC provided 2,057 unique disclosures of actionable financial intelligence in support of investigations related to money laundering, terrorist activity financing and threats to the security of Canada.

Associated Links

Contacts
Media RelationsFinancial Transactions and Reports Analysis Centre of Canada613-947-6875
[email protected].

[Read More] […]

Read More…

FINTRAC signs a Memorandum of Understanding with the Organisme d’autoréglementation du courtage immobilier du Québec

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FINTRAC signs a Memorandum of Understanding with the Organisme d’autoréglementation du courtage immobilier du Québec

FINTRAC announced today that it has signed a Memorandum of Understanding with the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) to allow for the sharing of compliance-related information in order to help strengthen the compliance of the Quebec real estate sector with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, and to reduce duplication of effort and compliance burden for real estate brokerages in Quebec.
Under this Memorandum of Understanding, FINTRAC and the OACIQ will share compliance-related information such as lists of persons and entities subject to their respective Acts and Regulations as well as compliance examination plans, resulting in more coordinated and risk-informed examinations.
The sharing of compliance-related information facilitated by this Memorandum of Understanding will also help to enhance the knowledge and expertise of each organization regarding new and evolving risks and trends in the real estate sector in Quebec and across Canada.
Quotes

“We are pleased to work with the Organisme d’autoréglementation du courtage immobilier du Québec to more effectively combat money laundering and terrorist activity financing in the real estate sector. Together, we will strengthen oversight in this sector, reduce duplication and help to protect Canadians and Canada’s economy.”
Sarah Paquet, Director and Chief Executive Officer, Financial Transactions and Reports Analysis Centre of Canada

“The signing of this agreement with FINTRAC adds another tool in the fight against money laundering. We are very proud of the OACIQ’s participation in this initiative designed to improve the effectiveness of oversight by each organization.”
Me Caroline Champagne, Vice-President, Enforcement of Practices, Organisme d’autoréglementation du courtage immobilier du Québec

Quick Facts

FINTRAC has 16 active compliance Memoranda of Understanding with federal and provincial partners to strengthen its ability to ensure compliance across various sectors. These agreements allow FINTRAC to coordinate examinations with regulatory bodies and share the results, minimize overlap and the duplication of effort, and reduce the burden on Canadian businesses.
In 2019–20, FINTRAC conducted 399 compliance examinations across the country, the largest number of which was focused on the real estate sector (146).
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.
In 2019–20, FINTRAC provided 2,057 unique disclosures of actionable financial intelligence in support of investigations related to money laundering, terrorist activity financing and threats to the security of Canada.

Associated Links

Contacts
Media RelationsFinancial Transactions and Reports Analysis Centre of Canada613-947-6875
[email protected].

[Read More] […]

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FINTRAC signs a Memorandum of Understanding with the Organisme d’autoréglementation du courtage immobilier du Québec

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FINTRAC signs a Memorandum of Understanding with the Organisme d’autoréglementation du courtage immobilier du Québec

FINTRAC announced today that it has signed a Memorandum of Understanding with the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) to allow for the sharing of compliance-related information in order to help strengthen the compliance of the Quebec real estate sector with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, and to reduce duplication of effort and compliance burden for real estate brokerages in Quebec.
Under this Memorandum of Understanding, FINTRAC and the OACIQ will share compliance-related information such as lists of persons and entities subject to their respective Acts and Regulations as well as compliance examination plans, resulting in more coordinated and risk-informed examinations.
The sharing of compliance-related information facilitated by this Memorandum of Understanding will also help to enhance the knowledge and expertise of each organization regarding new and evolving risks and trends in the real estate sector in Quebec and across Canada.
Quotes

“We are pleased to work with the Organisme d’autoréglementation du courtage immobilier du Québec to more effectively combat money laundering and terrorist activity financing in the real estate sector. Together, we will strengthen oversight in this sector, reduce duplication and help to protect Canadians and Canada’s economy.”
Sarah Paquet, Director and Chief Executive Officer, Financial Transactions and Reports Analysis Centre of Canada

“The signing of this agreement with FINTRAC adds another tool in the fight against money laundering. We are very proud of the OACIQ’s participation in this initiative designed to improve the effectiveness of oversight by each organization.”
Me Caroline Champagne, Vice-President, Enforcement of Practices, Organisme d’autoréglementation du courtage immobilier du Québec

Quick Facts

FINTRAC has 16 active compliance Memoranda of Understanding with federal and provincial partners to strengthen its ability to ensure compliance across various sectors. These agreements allow FINTRAC to coordinate examinations with regulatory bodies and share the results, minimize overlap and the duplication of effort, and reduce the burden on Canadian businesses.
In 2019–20, FINTRAC conducted 399 compliance examinations across the country, the largest number of which was focused on the real estate sector (146).
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.
In 2019–20, FINTRAC provided 2,057 unique disclosures of actionable financial intelligence in support of investigations related to money laundering, terrorist activity financing and threats to the security of Canada.

Associated Links

Contacts
Media RelationsFinancial Transactions and Reports Analysis Centre of Canada613-947-6875
[email protected].

[Read More] […]

Read More…

FINTRAC signs a Memorandum of Understanding with the Organisme d’autoréglementation du courtage immobilier du Québec

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FINTRAC signs a Memorandum of Understanding with the Organisme d’autoréglementation du courtage immobilier du Québec

FINTRAC announced today that it has signed a Memorandum of Understanding with the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) to allow for the sharing of compliance-related information in order to help strengthen the compliance of the Quebec real estate sector with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, and to reduce duplication of effort and compliance burden for real estate brokerages in Quebec.
Under this Memorandum of Understanding, FINTRAC and the OACIQ will share compliance-related information such as lists of persons and entities subject to their respective Acts and Regulations as well as compliance examination plans, resulting in more coordinated and risk-informed examinations.
The sharing of compliance-related information facilitated by this Memorandum of Understanding will also help to enhance the knowledge and expertise of each organization regarding new and evolving risks and trends in the real estate sector in Quebec and across Canada.
Quotes

“We are pleased to work with the Organisme d’autoréglementation du courtage immobilier du Québec to more effectively combat money laundering and terrorist activity financing in the real estate sector. Together, we will strengthen oversight in this sector, reduce duplication and help to protect Canadians and Canada’s economy.”
Sarah Paquet, Director and Chief Executive Officer, Financial Transactions and Reports Analysis Centre of Canada

“The signing of this agreement with FINTRAC adds another tool in the fight against money laundering. We are very proud of the OACIQ’s participation in this initiative designed to improve the effectiveness of oversight by each organization.”
Me Caroline Champagne, Vice-President, Enforcement of Practices, Organisme d’autoréglementation du courtage immobilier du Québec

Quick Facts

FINTRAC has 16 active compliance Memoranda of Understanding with federal and provincial partners to strengthen its ability to ensure compliance across various sectors. These agreements allow FINTRAC to coordinate examinations with regulatory bodies and share the results, minimize overlap and the duplication of effort, and reduce the burden on Canadian businesses.
In 2019–20, FINTRAC conducted 399 compliance examinations across the country, the largest number of which was focused on the real estate sector (146).
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.
In 2019–20, FINTRAC provided 2,057 unique disclosures of actionable financial intelligence in support of investigations related to money laundering, terrorist activity financing and threats to the security of Canada.

Associated Links

Contacts
Media RelationsFinancial Transactions and Reports Analysis Centre of Canada613-947-6875
[email protected].

[Read More] […]

Read More…

FINTRAC signs a Memorandum of Understanding with the Organisme d’autoréglementation du courtage immobilier du Québec

You are here:

Home
News
News releases
FINTRAC signs a Memorandum of Understanding with the Organisme d’autoréglementation du courtage immobilier du Québec

FINTRAC announced today that it has signed a Memorandum of Understanding with the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) to allow for the sharing of compliance-related information in order to help strengthen the compliance of the Quebec real estate sector with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, and to reduce duplication of effort and compliance burden for real estate brokerages in Quebec.
Under this Memorandum of Understanding, FINTRAC and the OACIQ will share compliance-related information such as lists of persons and entities subject to their respective Acts and Regulations as well as compliance examination plans, resulting in more coordinated and risk-informed examinations.
The sharing of compliance-related information facilitated by this Memorandum of Understanding will also help to enhance the knowledge and expertise of each organization regarding new and evolving risks and trends in the real estate sector in Quebec and across Canada.
Quotes

“We are pleased to work with the Organisme d’autoréglementation du courtage immobilier du Québec to more effectively combat money laundering and terrorist activity financing in the real estate sector. Together, we will strengthen oversight in this sector, reduce duplication and help to protect Canadians and Canada’s economy.”
Sarah Paquet, Director and Chief Executive Officer, Financial Transactions and Reports Analysis Centre of Canada

“The signing of this agreement with FINTRAC adds another tool in the fight against money laundering. We are very proud of the OACIQ’s participation in this initiative designed to improve the effectiveness of oversight by each organization.”
Me Caroline Champagne, Vice-President, Enforcement of Practices, Organisme d’autoréglementation du courtage immobilier du Québec

Quick Facts

FINTRAC has 16 active compliance Memoranda of Understanding with federal and provincial partners to strengthen its ability to ensure compliance across various sectors. These agreements allow FINTRAC to coordinate examinations with regulatory bodies and share the results, minimize overlap and the duplication of effort, and reduce the burden on Canadian businesses.
In 2019–20, FINTRAC conducted 399 compliance examinations across the country, the largest number of which was focused on the real estate sector (146).
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.
In 2019–20, FINTRAC provided 2,057 unique disclosures of actionable financial intelligence in support of investigations related to money laundering, terrorist activity financing and threats to the security of Canada.

Associated Links

Contacts
Media RelationsFinancial Transactions and Reports Analysis Centre of Canada613-947-6875
[email protected].

[Read More] […]

Read More…