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FINTRAC imposes an administrative monetary penalty on Global West Realty Limited

News release

January 17, 2024—Ottawa—Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

FINTRAC announced today that it has imposed an administrative monetary penalty on Global West Realty Limited, also operating as Global West Realty Limited Brokerage. Following a compliance examination in 2021, this real estate broker in Mississauga, Ontario, was imposed an administrative monetary penalty of $132,000 on August 18, 2023, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.

Global West Realty Limited was found to have committed the following administrative violations:

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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 will continue to work 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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