A Coquitlam, B.C., jeweller and self-proclaimed member of the Hells Angels Motorcycle Club has lost his appeal to overturn $66,000 in penalties for violations of Canada’s anti-money laundering laws.
In 2023, the Financial Transactions and Reports Analysis Centre of Canada (Fintrac) had handed Austin Jewellers two $33,000 penalties for violations of the federal Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
Under Canada’s anti-money laundering laws, casinos, financial entities, money services businesses, real estate brokers and sales representatives as well as several other business sectors are required to keep certain records, identify clients, maintain a compliance regime and report specific financial transactions to Fintrac.
Administrative monetary penalties handed out
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