The Financial Transactions and Reports Analysis Centre of Canada has imposed an administrative monetary penalty of CAD 24,750 on RE/MAX Twin City Realty Inc., also operating as Twin City Realty Inc., following a compliance examination. The penalty was imposed on February 4, 2026 for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations. The brokerage was found to have failed to assess and document the risk of a money laundering or terrorist financing offence, taking into account prescribed factors. The firm is a real estate brokerage headquartered in Kitchener, Ontario, with branches in Brantford, Cambridge, New Hamburg, Paris and Waterloo. FINTRAC said the administrative monetary penalty has been paid in full and the case is closed.
Financial Transactions and Reports Analysis Centre of Canada 2026-05-05
Financial Transactions and Reports Analysis Centre of Canada imposes CAD 24750 penalty on RE MAX Twin City Realty for failing to assess and document money laundering and terrorist financing risk
The Financial Transactions and Reports Analysis Centre of Canada has imposed an administrative monetary penalty of CAD 24,750 on RE/MAX Twin City Realty Inc. for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. A compliance examination found the brokerage failed to assess and document the risk of a money laundering or terrorist financing offence, and FINTRAC confirmed the penalty has been paid in full and the case is closed.