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FINTRAC imposes an administrative monetary penalty on Canada Changjiang Management Ltd.

News release

September 12, 2024 — Ottawa — Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

FINTRAC announced today that it has imposed an administrative monetary penalty on Canada Changjiang Management Ltd. Following a compliance examination in 2022, this money services business in Richmond, British Columbia, was imposed an administrative monetary penalty of $315,282 on February 11, 2024, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.

Canada Changjiang Management Ltd. was found to have committed the following administrative violations:

The administrative monetary penalty has been paid in full by Canada Changjiang Management Ltd. and proceedings have ended.

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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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