Burnabynow | Two more B.C. real estate firms fined for anti-money laundering violations

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Burnabynow | Two more B.C. real estate firms fined for anti-money laundering violations

News / October 19, 2022

In the below article from the Burnabynow, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) recently announced two B.C. real estate brokerage firms have been fined for anti-money laundering (AML) violations.

One parent company, LeHomes Realty, has been issued its second such fine this year.

FINTRAC announced Oct. 13 an administrative monetary penalty of $275,385 on LaBoutique Realty Ltd., also operating as LeHomes Realty First in Vancouver.

LaBoutique Realty Ltd. failed to “submit a suspicious transaction report where there were reasonable grounds to suspect that transactions were related to a money laundering offence,” according to FINTRAC.

The firm was found to have also failed to submit a large cash transaction report .......

B.C. realty firms fined by FINTRAC for AML breaches - Burnaby Now

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