Realtors See 6-FIGURE Fines

Описание: #canadianrealestate #realtors #moneylaundering

Real estate brokerages are now facing six-figure fines for failing to comply with anti-money laundering laws — and regulators aren’t playing around anymore.

After years of lax oversight, FINTRAC has hit multiple brokerages with massive penalties, including a $148,000 fine tied to a suspicious motel sale involving foreign buyers, false information, and major red flags.

Links:

FINTRAC sanctions real estate brokerage over AML compliance failures:

https://www.mpamag.com/ca/mortgage-in...

Brokerages fined for failing to monitor potential money laundering:

https://www.theglobeandmail.com/real-...

RECO report places most blame for iPro scandal on one man. Industry insiders aren’t buying it:

https://www.thestar.com/real-estate/r...

Financial Transactions and Reports Analysis Centre of Canada:

https://fintrac-canafe.canada.ca/intr...

Ontario real estate regulator ineffective at protecting homebuyers, sellers, audit finds:

https://www.cbc.ca/news/business/reco...

Money laundering and terrorist financing indicators—Money services businesses:

https://fintrac-canafe.canada.ca/guid...

READOUT: Second Annual FINTRAC-FinCEN Symposium in Washington, D.C.:

https://www.fincen.gov/news/news-rele...

Mortgage industry braces for FINTRAC’s new AML rules starting October 11:

https://www.canadianmortgagetrends.co...

Proof of down payment: The biggest hurdle for mortgage professionals:

https://www.canadianmortgagetrends.co...

Public notice of administrative monetary penalties:

https://fintrac-canafe.canada.ca/pen/...

TD Bank fined $3B US after pleading guilty in historic U.S. money-laundering case:

https://www.cbc.ca/news/business/td-b...

Canada’s New Border Bill to Combat Money Laundering:

https://www.blg.com/en/insights/2025/...

File #2023100317IN THE MATTER OF A DISCIPLINE HEARING HELD PURSUANT TO THE
REAL ESTATE AND BUSINESS BROKERS ACT, 2002, S.O. 2002, c. 30, Sch. C:

https://registrantsearch.reco.on.ca/D...

iPro co-founders took millions from trust but will not be charged, regulator confirms:

https://www.thestar.com/business/ipro...

U.S. deems Canada ‘major money laundering country’ as gangs exploit weak law enforcement:

https://globalnews.ca/news/5102137/us...

Mark Mitchell – Mortgage Broker London Ontario
920 Commissioners road east
London, Ontario N5Z 3J1
Phone: (519)860-2102 (Call or Text)
[email protected]
Brokerage Lic: 10464
Broker Lic: M16001479
https://www.LondonOntarioMortgages.ca – Apply Online!!
Youtube Channel:    / markmitchellmortgagebrokerlondonontario  

Subscribe NOW for more Mortgage/Financial News/Videos.
Follow me on Social Media:
Instagram -   / mortgagebrokerlondonontario  
Facebook -   / londonontariomortgages  
Twitter -   / londonmortgage1  
LinkedIn -   / mark-mitchell-london-s-mortgage-broker-197...  
TikTok - https://www.tiktok.com/@mortgagebroke...
Commentary on this Channel should not be considered financial advice.