The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has imposed an administrative monetary penalty of CAD 36,135 on HomeLife New World Realty Inc., a real estate brokerage operating in Toronto and Richmond Hill, Ontario, following a compliance examination. The penalty was issued for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated regulations. FINTRAC found violations relating to the firm’s compliance regime, including failing to develop and apply up-to-date written compliance policies and procedures approved by a senior officer, failing to assess and document money laundering and terrorist financing risk using prescribed factors, and failing to keep required records. FINTRAC confirmed the penalty has been paid in full and the case is closed.
Financial Transactions and Reports Analysis Centre of Canada 2025-11-20
Financial Transactions and Reports Analysis Centre of Canada fines HomeLife New World Realty CAD 36,135 for anti-money laundering compliance failures
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed a CAD 36,135 penalty on HomeLife New World Realty Inc. for non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Violations included inadequate compliance policies, risk assessment failures, and record-keeping deficiencies. The penalty has been paid, and the case is closed.