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N.B. and N.S. gaming Crown corps fined for lax money laundering reports
- Canada's money laundering watchdog, Fintrac, fined Crown corporations managing gaming in New Brunswick and Nova Scotia for failing to submit suspicious activity reports.
- The New Brunswick Lotteries and Gaming Corporation was fined nearly $400,000, while the Nova Scotia Gaming Corporation was fined almost $232,000.
- Nova Scotia Gaming also failed to update compliance policies and document risks related to money laundering or terrorist financing offenses.
- Stéphane Sirard, Fintrac's acting CEO, emphasized that regulated businesses must file reports to deter criminals and terrorists, and Fintrac will take firm action when necessary.
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Crown Corporations Hit With Fintrac Fines Over Missing Money Laundering Reports
The Canadian anti-money laundering agency has imposed fines on the Crown corporations responsible for gaming operations in New Brunswick and Nova Scotia for failing to report suspicious activity in connection with the Atlantic Lottery Corporation. The New Brunswick Lotteries and Gaming Corporation has been fined almost $400,000, while the Nova Scotia Gaming Corporation was hit…
Coverage Details
Total News Sources11
Leaning Left7Leaning Right0Center3Last UpdatedBias Distribution70% Left
Bias Distribution
- 70% of the sources lean Left
70% Left
L 70%
C 30%
Factuality
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