Canada’s FINTRAC Slaps Atlantic Lottery with C$212K Fine for AML Shortcomings
2026-07-14
Source: Focus Gaming News
FINTRAC fined Atlantic Lottery Corporation C$212,025 for three anti-money laundering compliance failures, including missing a suspicious transaction report and inadequate risk documentation. The penalty was settled in full.
Canada’s financial intelligence unit, FINTRAC, has imposed a penalty of C$212,025 (around US$149,700) on the Atlantic Lottery Corporation for violations of the country’s anti-money laundering and counter-terrorist financing framework. The fine, handed down on May 29, followed a compliance review that uncovered three breaches of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated regulations.
According to FINTRAC, the lottery operator failed to submit a suspicious transaction report despite having reasonable grounds to suspect a link to money laundering or terrorist financing. Additionally, the company did not maintain up-to-date, written compliance policies and procedures that had received approval from a senior officer, nor did it properly assess and document its exposure to money laundering and terrorist financing risks as legally required.
In a statement, FINTRAC emphasized the importance of the regime, saying: “We will take firm action when it is required, to ensure that businesses do their part and fulfil these obligations.” The regulator noted that the rules are designed to keep criminals and terrorists out of the legitimate economy and to supply law enforcement with actionable financial intelligence.
The Atlantic Lottery Corporation has already settled the penalty in full.