{"id":430,"date":"2025-08-25T17:11:59","date_gmt":"2025-08-25T17:11:59","guid":{"rendered":"http:\/\/www.sourceforterminals.com\/?p=430"},"modified":"2025-08-29T15:13:23","modified_gmt":"2025-08-29T15:13:23","slug":"canada-feds-hits-charity-casino-with-199k-fine-for-anti-money-laundering-fails","status":"publish","type":"post","link":"http:\/\/www.sourceforterminals.com\/index.php\/2025\/08\/25\/canada-feds-hits-charity-casino-with-199k-fine-for-anti-money-laundering-fails\/","title":{"rendered":"Canada Feds Hits Charity Casino With $199k Fine for Anti Money Laundering Fails\u00a0"},"content":{"rendered":"

The post Canada Feds Hits Charity Casino With $199k Fine for Anti Money Laundering Fails\u00a0<\/a> appeared first on Vegas Slots Online News<\/a>.<\/p>\n

<\/div>\n

Feds fine charity<\/h2>\n

Canada\u2019s federal Anti Money Laundering (AML) watchdog has ruffled feathers by hitting a charity casino at the country\u2019s largest summer fair with a CA$199k (US$143k) fine.\u00a0<\/p>\n

The Financial Transactions and Reports Analysis Centre of Canada (Fintrac) last week charged the City of Toronto-owned CNE Casino for violating federal AML and terrorism financing laws.<\/p>\n

Toronto\u2019s Canadian National Exhibition (CNE) runs annually from July 23 to August 31. CNE Casino has held a temporary, non-profit gambling license under its CNE parent since 1991.<\/p>\n

CNE Casino denies all charges.\u00a0<\/p>\n

All in a tangle<\/h2>\n

The publicized penalty comes after Fintrac in March opened a probe into CNE Casino\u2019s compliance in relation to Canada\u2019s Proceeds of Crime and Terrorist Financing\u00a0<\/p>\n

\n

inadequate risk assessment procedures\u201d\u00a0<\/p>\n<\/blockquote>\n

The federal body subsequently accused CNE Casino of violating the proceeds of crime laws via \u201cinadequate risk assessment procedures and failing to conduct a bi-annual effectiveness review of its compliance program.\u201d\u00a0<\/p>\n

Despite CNE Casino\u2019s defensive representations to Fintrac, the body on July 14 confirmed it would be pursuing its violations, but would reduce the financial penalty by $1,000 ($723).\u00a0<\/p>\n

CNE Casino\u2019s lawyers have at once denied that the casino has committed any criminal acts while complaining of being hit with the maximum financial penalty of almost $200k.\u00a0<\/p>\n

\u201cCNE Casino hereby appeals both findings and the resulting monetary penalties.\u201d<\/p>\n

Full steam ahead<\/h2>\n

While the case remains under appeal, CNE Casino Director Gary Bostock stated the casino will continue to run at the summer fair\u00a0\u201cin full operation.\u201d<\/p>\n

CNE Casino\u2019s appeal put forward the notion that alleged violations were compliance-based, but that the feds\u2019 accusations are \u201copaque to the point of unintelligibility.\u201d\u00a0<\/p>\n

\u201cThere has never been any allegation of criminal activity <\/a>at the CNE Casino in this process,\u201d National Post <\/em>cited Bostock as stating. \u201cWe are in full compliance with all regulations and are committed to operating a safe, legal, and efficient business that benefits our charitable foundation.\u201d.<\/p>\n

The post Canada Feds Hits Charity Casino With $199k Fine for Anti Money Laundering Fails\u00a0<\/a> appeared first on Vegas Slots Online News<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The post Canada Feds Hits Charity Casino With $199k Fine for Anti Money Laundering Fails\u00a0 appeared first on Vegas Slots […]<\/p>\n","protected":false},"author":1,"featured_media":237,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[14],"tags":[],"_links":{"self":[{"href":"http:\/\/www.sourceforterminals.com\/index.php\/wp-json\/wp\/v2\/posts\/430"}],"collection":[{"href":"http:\/\/www.sourceforterminals.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.sourceforterminals.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.sourceforterminals.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.sourceforterminals.com\/index.php\/wp-json\/wp\/v2\/comments?post=430"}],"version-history":[{"count":1,"href":"http:\/\/www.sourceforterminals.com\/index.php\/wp-json\/wp\/v2\/posts\/430\/revisions"}],"predecessor-version":[{"id":431,"href":"http:\/\/www.sourceforterminals.com\/index.php\/wp-json\/wp\/v2\/posts\/430\/revisions\/431"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.sourceforterminals.com\/index.php\/wp-json\/wp\/v2\/media\/237"}],"wp:attachment":[{"href":"http:\/\/www.sourceforterminals.com\/index.php\/wp-json\/wp\/v2\/media?parent=430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.sourceforterminals.com\/index.php\/wp-json\/wp\/v2\/categories?post=430"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.sourceforterminals.com\/index.php\/wp-json\/wp\/v2\/tags?post=430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}