Canadian Financial Intelligence Unit Penalizes Casino Sector Entity Over Failure to Submit Suspicious Transaction Reports
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has imposed an administrative monetary penalty of $399,712.50 on the New Brunswick Lotteries and Gaming Corporation. Following a compliance examination, the Fredericton-based casino sector reporting entity was penalized on July 24, 2026, for failing to comply with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
Specifically, the corporation was cited for failing to submit suspicious transaction reports when reasonable grounds existed to suspect that transactions were linked to money laundering or terrorist activity financing offenses. The New Brunswick Lotteries and Gaming Corporation has since paid the penalty in full, officially closing the case.
Regulatory Enforcement and Context
Highlighting the importance of strict compliance, Stéphane Sirard, Acting Director and CEO of FINTRAC, stated:
“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. The obligations in the Act deter criminals and terrorists from operating in the legitimate economy and ensure that FINTRAC receives the reporting needed to generate actionable financial intelligence in support of law enforcement and national security investigations. We will take firm action, when it is required, to ensure that businesses do their part and fulfill these obligations.”
FINTRAC maintains regulatory oversight over multiple sectors, including casinos, financial entities, and money services businesses, requiring them to maintain compliance regimes, verify clients, keep detailed records, and report large or suspicious transactions. Administrative monetary penalties are designed to correct non-compliant behavior and reinforce the integrity of Canada’s financial intelligence network.
