FINTRAC fines two gaming corporations​

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has fined New Brunswick Lotteries and Gaming Corporation and Nova Scotia Gaming gaming corporations for failing to report suspicious breach of anti-money laundering laws.​ In the statement FINTRAC confirmed that New Brunswick Lotteries and Gaming Corporation paid CAD399,712.50 and Nova Scotia Gaming Corporation CAD231,826. FINTRAC stated that the corporations failed to provide suspicious transaction reports where they had enough evidence regarding suspicion of money laundering or financing of terrorism in a way, making it a “very serious” breach according to the Canadian laws. The flags that were missed are representatives who share identifiers like addresses and phone numbers often used by many different persons, fake or altered identification from the customers, and chargebacks on deposit methods indicating that the methods were used without authorization. Stéphane Sirard, Acting Director and CEO of FINTRAC, said: Canada’s Anti-Money Laundering and Anti-Terrorist Financing Regime is in place to protect the safety of Canadians, the security of Canadian businesses and the integrity of Canada’s financial system. We will take firm action, when it is required, to ensure that businesses do their part and fulfill these obligations. Since 2024, FINTRAC has stepped up its enforcement, conducting on-site and remote inspections its fines also became much larger. Both of these businesses stated that they have paid their fines. At the same time, Rachel Boomer, Communication Director of the Nova Scotia Finance and Treasury Board told Canadian Gaming Business that the penalty is connected mainly with the online operations of the Atlantic Lottery Corporation. NSGC was also punished for failing to keep updated compliance measures and risk evaluation. Boomer stated that the province has already suspended the companies engaged and updated their procedure.