CNE Casino Penalized Over Non-Compliance with Anti-Money Laundering Rules

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CNE Casino, also known as the Canadian National Exhibition Association, has been ordered to pay CA$199,000.

Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has issued a penalty to Canadian National Exhibition Casino (CNE Casino) for failing to comply with anti-money laundering and terrorist financing regulations.

CNE Casino, also known as the Canadian National Exhibition Association, has been ordered to pay CA$199,000 (US$143,950). The penalty was issued on July 11 but was only confirmed by FINTRAC in early September.

FINTRAC flagged non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated regulations. It was found to have committed a number of administrative violations.

These, FINTRAC said, included failing to assess and document a money laundering risk or terrorist financing offense, taking into consideration prescribed factors. It also failed to institute and document a prescribed review.

FINTRAC Criticizes Casino for Anti-Money Laundering Failure

FINTEAC CEO and Director Sarah Paquet said casinos are required to put in place measures to protect against these issues. She added that FINTRAC will take action against other casinos should they also violate regulations.

In 2024–25, FINTRAC issued 23 notices of violation of non-compliance to businesses. This was the largest number in a single year in the agency’s history and added up to more than $25 million in fines.

“Canada’s Anti-Money Laundering and Anti-Terrorist Financing Regime is in place to protect the safety of Canadians and the security of Canada’s economy,” Paquet said.

“FINTRAC works with businesses to help them understand and comply with their obligations under the Act. We are also firm in ensuring that businesses continue to do their part and we will take appropriate actions when they are needed.”