FINTRAC imposes an administrative monetary penalty on Loto-Québec
[ 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 three violations. The violations were found during the course of a compliance examination in 2012 and were the object of a legal challenge. The case is closed.
Nature of violation
Violation #1 – Failure to institute and document the prescribed review - PCMLTF Regulations 71(1)(e)
Loto-Québec failed to test the effectiveness and document the review of some parts of its compliance program.
Violation #2 – Failure to report suspicious transactions – PCMLTFA 7
Loto-Québec failed to submit a suspicious transaction report where there were reasonable grounds to suspect that transactions were related to a money laundering or terrorist activity financing offence.
Violation #3 – Failure to report casino disbursements of $10,000 or more with the prescribed information - PCMLTF Regulations 42(1)
Loto-Québec failed to report specific details of a client’s occupation in casino disbursement reports.
- Date Modified: