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.
Financial Transactions and Reports Analysis Centre of Canada 2025-08-28
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.