Canada’s anti-money laundering agency has fined the Canadian National Exhibition (CNE) Casino in Toronto $199,000 for breaching regulations.
During a compliance examination, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) found that the CNE Casino had committed two administrative violations. FINTRAC imposed a penalty of $199,000 on July 11 due to non-compliance with regulations associated with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, a Sept. 4 news release says.
“Canada’s Anti-Money Laundering and Anti-Terrorist Financing Regime is in place to protect the safety of Canadians and the security of Canada’s economy,” FINTRAC Director and CEO Sarah Paquet said in a statement….