The Financial Transactions and Reports Analysis Centre of Canada has published a notice that it imposed a CAD 33,000 administrative monetary penalty on VIP Realty Inc., also operating as Royal LePage Integrity Realty Inc., following a compliance examination. The penalty was imposed on December 1, 2025, for non-compliance with Part 1 of the Proceeds of Crime Money Laundering and Terrorist Financing Act and related regulations. The breach concerned the brokerage’s failure to institute and document the required review of its compliance program to test its effectiveness. That review was required to be carried out every two years by an internal or external auditor, with the results documented. FINTRAC said VIP Realty, an Ottawa-based real estate brokerage with locations in Cornwall, Kanata and Orleans, has paid the penalty in full and the case is closed.
Financial Transactions and Reports Analysis Centre of Canada2026-07-09
Financial Transactions and Reports Analysis Centre of Canada imposes CAD 33000 penalty on VIP Realty for failing to conduct and document biennial compliance testing
The Financial Transactions and Reports Analysis Centre of Canada imposed a CAD 33,000 administrative monetary penalty on VIP Realty Inc., operating as Royal LePage Integrity Realty Inc., after a compliance examination. FINTRAC found the real estate brokerage failed to carry out and document the required biennial effectiveness review of its compliance program by an internal or external auditor. The penalty has been paid in full and the case is closed.