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Public notice of administrative monetary penalties

From: Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

Listed below are persons or entities that have been imposed an administrative monetary penalty. Notices will remain on FINTRAC’s public website for 5 years.

Date Penalties imposed
[2024-12-11] Exchange Bank of Canada, a bank headquartered in Toronto, Ontario, was imposed an administrative monetary penalty of $2,457,750 on November 5, 2024, for committing 3 violations. This penalty was imposed for violations committed by Exchange Bank of Canada under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations. The Bank has filed a Notice of Appeal.
[2024-11-28] 1121920 B.C. Ltd, also operating as Simple Canadian Services, a money services business in Surrey, British Columbia, was imposed an administrative monetary penalty of $229,350 on August 14, 2024, for committing 5 violations. Simple Canadian Services has appealed the decision to the Federal Court.
[2024-10-29] Jones Lang Lasalle Real Estate Services, Inc., also operating as JLL, a real estate broker in Toronto, Ontario, was imposed an administrative monetary penalty of $107,827.50 on March 13, 2024, for committing 6 violations. The administrative monetary penalty has been paid in full and proceedings have ended.
[2024-09-24] 1000085532 Ontario Inc., also operating as Right At Home Realty Inc. and Right at home Realty, a real estate broker in North York, Ontario, was imposed an administrative monetary penalty of $57,750 on June 27, 2024, for committing 3 violations. 1000085532 Ontario Inc. has paid the administrative monetary penalty in full and proceedings have ended.
[2024-09-19] Coinseason Capital Inc., a money services business located in Richmond, British Columbia, was imposed an administrative monetary penalty of $33,000 on May 31, 2024, for committing 1 violation. The administrative monetary penalty has been paid in full and proceedings have ended.
[2024-09-12] Canada Changjiang Management Ltd., a money services business in Richmond, British Columbia, was imposed an administrative monetary penalty of $315,282 on February 11, 2024, for committing 6 violations. The administrative monetary penalty has been paid in full and proceedings have ended.
[2024-07-31] Gestion de Patrimoine Blue Bridge Inc., an independent wealth management firm considered as a securities dealer, was imposed an administrative monetary penalty of $49,500 on April 19, 2024, for committing 2 violations. The administrative monetary penalty has been paid in full and proceedings have ended.
[2024-07-16] Masters Realty (2000) Ltd., also operating as RE/MAX Masters Realty, a real estate brokerage in West Vancouver, British Columbia, was imposed an administrative monetary penalty of $83,655 on January 8, 2024, for committing 5 violations. The administrative monetary penalty has been paid in full and proceedings have ended.
[2024-07-11] Metna General Trading Inc., formerly known as Metna Financial Investment Inc., a money services business in Thornhill, Ontario, was imposed an administrative monetary penalty of $252,285 on November 7, 2023, for committing 7 violations. The case is closed.
[2024-05-09] Binance Holdings Limited, also operating as Binance Holdings (IE) Ltd., Binance.com, Binance Global, and Binance, is determined to be a foreign money services business. Binance Holdings Limited was imposed an administrative monetary penalty of $6,002,000 on May 7, 2024, for committing 2 violations. Binance Holdings Limited has appealed the decision to the Federal Court.
[2024-05-02] The Toronto-Dominion Bank, a bank headquartered in Toronto, Ontario, was imposed an administrative monetary penalty of $9,185,000 on April 9, 2024, for committing 5 violations. This penalty was imposed for administrative violations committed by The Toronto-Dominion Bank under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations, and not for criminal offences for money laundering or terrorist activity financing. The administrative monetary penalty has been paid in full and proceedings have ended.
[2024-01-17] Global West Realty Limited, also operating as Global West Realty Limited Brokerage, a real estate broker in Mississauga, Ontario, was imposed an administrative monetary penalty of $132,000 on August 18, 2023, for committing 5 violations. Global West Realty Limited has appealed the decision to the Federal Court.
[2023-12-07] Canadian Imperial Bank of Commerce (CIBC), also operating as Banque Canadienne Impériale de Commerce, a bank headquartered in Toronto, Ontario, was imposed an administrative monetary penalty of $1,329,150 on October 23, 2023, for committing 2 violations. This penalty was imposed for administrative violations committed by CIBC under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations, and not for criminal offences for money laundering or terrorist activity financing. The administrative monetary penalty has been paid in full by CIBC and proceedings have ended.
[2023-12-05] Royal Bank of Canada was imposed an administrative monetary penalty of $7,475,000 on November 3, 2023, for committing 3 violations. This penalty was imposed for administrative violations committed by RBC under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations, and not for criminal offences for money laundering or terrorist activity financing. The administrative monetary penalty has been paid in full by RBC and proceedings have ended.
[2023-10-31] Austin Jewellers (General partnership: Frank Suppanz and Lisa Suppanz, partners), a dealer in precious metals and precious stones in Coquitlam, British Columbia, was imposed an administrative monetary penalty of $66,000 on June 27, 2023, for committing 2 violations. Austin Jewellers has appealed the decision to the Federal Court.
[2023-10-27] Norwich Real Estate Services Inc., also operating as RE/MAX Kelowna, a real estate broker in Kelowna, British Columbia, was imposed an administrative monetary penalty of $156,750 on August 28, 2023, for committing 1 violation. Norwich Real Estate Services Inc. has appealed the decision to the Federal Court.
[2023-08-24] 857132 Ontario Limited, also operating as Diamonds For Less, a dealer in precious metals and precious stones in Toronto, Ontario was imposed an administrative monetary penalty of $99,314 on June 1, 2023, for committing 5 violations. The case is closed.
[2023-08-17] Deshi Foreign Exchange Inc., a money services business in Toronto, Ontario, was imposed an administrative monetary penalty of $33,000 on May 25, 2023, for committing 1 violation. The case is closed.
[2023-08-10] The Centre Pacific Project Marketing Corp., a real estate broker in Vancouver, British Columbia, was imposed an administrative monetary penalty of $57,915 on May 23, 2023, for committing 6 violations. The case is closed.
[2023-05-24] Niavaran Canada Inc., also operating as Niavaran Currency Exchange, a money service business in North York, Ontario was imposed an administrative monetary penalty of $57,255 on March 16, 2023, for committing 4 violations. The case is closed.
[2023-03-24] Vision Bank Ltd., also operating as Vision Bank (Canada), a money services business in Markham, Ontario, was imposed an administrative monetary penalty of $33,000 on March 8, 2023, for committing 1 violation. The case is closed.
[2023-03-06] Wealth One Bank of Canada, a bank in Toronto, Ontario, was imposed an administrative monetary penalty of $676,500 on February 15, 2023, for committing 4 administrative violations. These administrative deficiencies are not related to money laundering or terrorist financing offences. The administrative monetary penalty has been paid in full by Wealth One Bank of Canada and the case is closed.
[2022-10-18] Cathay Pacific Realty Ltd., a real estate broker in Vancouver, British Columbia, was imposed an administrative monetary penalty of $206,250 on July 25, 2022, for committing 5 violations. Cathay Pacific Realty Ltd. has appealed the decision to the Federal Court.
[2022-10-13] LaBoutique Realty Ltd., also operating as LeHomes Realty First, a real estate brokerage in Vancouver, British Columbia was imposed an administrative monetary penalty of $275,385 on July 21, 2022 for committing 7 violations. LaBoutique Realty Ltd. has appealed the decision to the Federal Court.
[2022-10-06] Pan Pacific Platinum Real Estate Services Inc., also operating as LeHomes Realty, a real estate brokerage in Vancouver, British Columbia was imposed an administrative monetary penalty of $282,397.50 on March 28, 2022, for committing 7 violations. Pan Pacific Platinum Real Estate Services Inc. has appealed the decision to the Federal Court.
[2022-08-16] Cheetah Consulting Ltd., a money services business in Richmond, British Columbia, was imposed an administrative monetary penalty of $33,000 on July 20, 2022, for committing 1 violation. The case is closed.
[2022-07-21] Thanh Hung Truong, also operating as Bijouterie Kim Dung, a money services business in Montréal, Quebec, was imposed an administrative monetary penalty of $41,250 on May 5, 2022, for committing 2 violations. The case is closed.
[2022-07-12] Nu Stream Realty Inc., a real estate broker in Burnaby, British Columbia, was imposed an administrative monetary penalty of $230,423 on April 6, 2022, for committing 7 violations. The case is closed.
[2022-06-23] Sokhom Ung, also operating as Bureau de Change Saint-Michel, a money services business in Montréal, Quebec, was imposed an administrative monetary penalty of $33,000 on March 29, 2022, for committing 1 violation. Sokhom Ung has appealed the decision to the Federal Court.
[2022-05-12] Montecristo Jewellers Inc., a dealer in precious metals and precious stones in Vancouver, British Columbia, was imposed an administrative monetary penalty of $222,750 on February 17, 2022, for committing 4 violations. Montecristo Jewellers Inc. has appealed the decision to the Federal Court.
[2022-05-10] 9293-0809 Québec Inc., also operating as Groupe Sam's Globale, a real estate broker in Montréal, Quebec, was imposed an administrative monetary penalty of $101,227 on October 19, 2021, for committing 6 violations. 9293-0809 Québec Inc. has appealed the decision to the Federal Court.
[2022-04-29] Laurentian Bank of Canada, also operating as Banque Laurentienne du Canada, a bank in Montréal, Quebec, was imposed an administrative monetary penalty of $486,750 on February 17, 2022, for committing 1 administrative violation, following a compliance examination in 2020. The penalty has been paid and the case is closed.
[2022-03-22] Forest Hill Real Estate Inc., a real estate broker in Toronto, Ontario, was imposed an administrative monetary penalty of $22,770 on October 28, 2021, for committing 4 violations. The case is closed.
[2022-03-15] Taiwanese Canadian Toronto Credit Union Limited, a credit union in Markham, Ontario, was imposed an administrative monetary penalty on November 1, 2021, for committing 4 violations. The amount of the applicable penalty was $175,000. The appeal to the Federal Court has been discontinued and the proceedings have ended.
[2022-03-03] Sino Financial Ltd, also operating as Sino Financier, a money services business in Pierrefonds, Quebec, was imposed an administrative monetary penalty of $33,000 on October 25, 2021, for committing 1 violation. The case is closed.
[2022-01-13] Libro Credit Union Limited, also operating as Libro Credit Union, a credit union in London, Ontario, was imposed an administrative monetary penalty of $156,750 on October 12, 2021, for committing 2 violations. The case is closed.
[2021-12-23] Industrial and Commercial Bank of China (Canada), also operating as ICBC (Canada), ICBK (Canada) and ICBK, a bank in Toronto, Ontario, was imposed an administrative monetary penalty of $701,250 on October 4, 2021, for committing 3 administrative violations, following a compliance examination in 2019. The penalty has been paid and the case is closed.
[ 2021-11-04 ] Pacific Place – Arc Realty Ltd., a real estate broker in Vancouver, British Columbia, was imposed an administrative monetary penalty of $255,750 on July 27, 2021, for committing 6 violations. The case is closed.
[ 2021-06-25 ] Les Immeubles Diamant Diamant Inc., also operating as Diamond Diamond Real Estate Inc., a real estate broker in Montréal, Quebec, was imposed an administrative monetary penalty on March 29, 2021 for committing 6 violations. The amount of the applicable penalty was $50,000. The appeal to the Federal Court has been discontinued and the proceedings have ended.
[ 2021-06-11 ] HomeLife Glenayre Realty Chilliwack Ltd., a real estate broker in Chilliwack, British Columbia, was imposed an administrative monetary penalty of $59,235 on February 8, 2021, for committing 5 violations. The case is closed.
[ 2021-05-19 ] Magasin Château D'Ivoire Inc., also operating as Château D'Ivoire, a dealer in precious metals and stones in Montréal, Quebec, was imposed an administrative monetary penalty of $206,910 on March 1, 2021, for committing 5 violations. Magasin Château d'Ivoire Inc. has appealed the decision to the Federal Court.
[ 2021-03-22 ] Park Georgia Realty Ltd., a real estate broker in Vancouver, British Columbia, was imposed an administrative monetary penalty on January 25, 2021 for committing 5 violations. The amount of the applicable penalty was $33,371.25. The appeal to the Federal Court has been discontinued and the proceedings have ended.
[ 2021-03-18 ] RE/MAX All-Stars Realty Inc., a real estate broker in Unionville, Ontario, was imposed an administrative monetary penalty of $31,350 on January 5, 2021, for committing 1 violation. RE/MAX All-Stars Realty Inc. appealed the decision to the Federal Court. On April 25, 2022, the Federal Court confirmed both the violation and penalty. The case is closed.
[ 2021-03-04 ] C&Z Holdings Ltd., also operating as Golden Apple, a money services business in Vancouver, British Columbia, was imposed an administrative monetary penalty of $101,969 on December 29, 2020, for committing 9 violations. The case is closed.
[ 2020-11-13 ] 9197-9195 Québec Inc., also operating as Apadana Forex, Bureau de change Apadana, Conseil investissement Apadana, and Consulting Investment Apadana, a money services business in Montréal, Quebec, was imposed an administrative monetary penalty of $206,250 on July 2, 2020, for committing 3 violations. The case is closed.
[ 2020-11-06 ] Loto-Québec, a casino in Montréal, Quebec, was imposed an administrative monetary penalty of $147,015 on February 28, 2020, for committing 3 violations. The case is closed.

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