The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed a CAD 199,000 administrative monetary penalty on the Canadian National Exhibition Association, operating as Canadian National Exhibition Casino (CNE Casino), following a compliance examination of the Toronto, Ontario casino. FINTRAC found non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations. The violations cited were failures to assess and document the risk of a money laundering or terrorist financing offence using prescribed factors, and to institute and document the prescribed review.
2025-09-04Financial Transactions and Reports Analysis Centre of Canada
Financial Transactions and Reports Analysis Centre of Canada fines CNE Casino CAD 199,000 for AML compliance regime failures
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) levied a CAD 199,000 penalty on the Canadian National Exhibition Casino for non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Violations included inadequate risk assessment and documentation related to money laundering and terrorist financing.