BIV | B.C. Re/Max brokerage wins right to appeal $156K anti-money laundering fine
In below article from Business in Vancouver, a B.C. real estate brokerage has been granted the opportunity to appeal a $156,750 fine for non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
A federal court judge in Ottawa ruled on April 10 the Financial Transactions and Reports Analysis Centre of Canada (Fintrac) committed errors in assessing the penalty against Re/Max Kelowna, registered as Norwich Real Estate Services Inc. The brokerage does not deny it failed to report a suspicious transaction related to an international stock fraud scheme orchestrated from Vancouver between 2011 and 2019.....
B.C. real estate firm can appeal $156K AML fine, court rules - Business in Vancouver
