Atlantic Lottery Corporation Accepts $212,025 Penalty for Three Compliance Violations

The Atlantic Lottery Corporation paid a $212,025 administrative penalty to the Financial Transactions and Reports Analysis Centre of Canada on May 29. Cbc reported that FINTRAC determined the Moncton-based company committed three violations of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

The violations involved failing to report a suspicious transaction, failing to keep internal rules up to date, and failing to properly track the risk of financial crimes.

The corporation operates lottery tickets, online games, sports betting and video lottery terminals across the Atlantic provinces. In a statement the company said it takes its obligations seriously and maintains measures to deter financial crimes. It added that it is working closely with regulators and law enforcement to strengthen those measures and that its compliance program meets or exceeds requirements.

The corporation decided not to appeal the penalty. Cbc reported that FINTRAC issued 35 non-compliance penalties to Canadian businesses over the past year, the highest number the agency has recorded.