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FINTRAC imposes an administrative monetary penalty on Norwich Real Estate Services Inc.

News release

October 27, 2023—Ottawa—Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

FINTRAC announced today that it has imposed an administrative monetary penalty on Norwich Real Estate Services Inc., also operating as RE/MAX Kelowna. This real estate broker in Kelowna, British Columbia, was imposed an administrative monetary penalty of $156,750 on August 28, 2023, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.

Norwich Real Estate Services Inc. was found to have committed the following violation:

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"Canada's Anti-Money Laundering and Anti-Terrorist Financing Regime is in place to protect the safety of Canadians and the security of Canada's economy. FINTRAC is committed to working with businesses to help them understand and comply with their obligations under the Act. We will also be firm in ensuring that businesses continue to do their part and we will take appropriate actions when they are needed."

Sarah Paquet, Director and Chief Executive Officer, Financial Transactions and Reports Analysis Centre of Canada

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Financial Transactions and Reports Analysis Centre of Canada
613-947-6875

media.medias@fintrac-canafe.gc.ca

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