The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has imposed an administrative monetary penalty of CAD 1,075,000 on British Columbia Lottery Corporation (BCLC) following a compliance examination. The penalty, issued on 17 July 2025, relates to non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated regulations. FINTRAC identified three violations: failure to report suspicious transactions, failure to develop and apply policies and procedures for high-risk clients, and failure to take special measures for high-risk clients. BCLC is a casino-sector reporting entity headquartered in Kamloops, British Columbia and oversees legal gambling products in the province, including lottery tickets, casinos and online gambling.
2025-08-28Financial Transactions and Reports Analysis Centre of Canada
Financial Transactions and Reports Analysis Centre of Canada imposes CAD 1.075 million penalty on British Columbia Lottery Corporation for anti-money laundering compliance failures
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed a CAD 1,075,000 penalty on British Columbia Lottery Corporation (BCLC) for non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Violations included failure to report suspicious transactions and inadequate policies for high-risk clients. BCLC, based in Kamloops, oversees gambling products in British Columbia.