Administrative monetary penalty on VIP Realty Inc.
[2026-07-09]
VIP Realty Inc., also operating as Royal LePage Integrity Realty Inc., a real estate brokerage based in Ottawa, Ontario, with locations in Cornwall, Kanata, and Orleans, was imposed an administrative monetary penalty of $33,000 on December 1, 2025, for committing 1 violation. The violation was found during the course of a compliance examination. VIP Realty Inc. has paid the administrative monetary penalty in full and the case is closed.
Nature of violation
- Violation #1
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Failure to institute and document the prescribed review – Proceeds of Crime (Money Laundering) and Terrorist Financing Act, subsection 9.6(1) and Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations, paragraph 156(1)(f)
FINTRAC determined that VIP Realty Inc. had not conducted a review of its compliance program to assess the effectiveness of its policies and procedures, risk assessment, and training program. This finding was confirmed by VIP Realty Inc. during the examination. The prescribed review is to be carried out, and the results documented, every two years.
Violation #1 is classified by the regulations as a Serious violation. The imposed penalty takes into account the criteria in section 73.11 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and section 6 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Administrative Monetary Penalties Regulations.
Related link
- Date Modified: