The British Columbia Lottery Corporation has been fined $1,075,000 by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) for three violations of money-laundering rules. The Crown corporation said that it is appealing the decision.
Following a compliance examination, FINTRAC found that the corporation had failed to report suspicious transactions, failed to develop and apply policies for high-risk clients, and did not take special measures for those high-risk clients. The federal agency issued the fine on July 17.
