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FINTRAC imposes an administrative monetary penalty on Sino Financial Ltd, operating as Sino Financier

[2022-03-03]

Sino Financial Ltd, also operating as Sino Financier, a money services business in Pierrefonds, Quebec, was imposed an administrative monetary penalty of $33,000 on October 25, 2021, for committing one violation. The violation was found during the course of compliance actions undertaken in 2021. The case is closed.

Nature of Violation

Violation #1 – Failure to register with the Centre – PCMLTFA 11.1

Sino Financial Ltd failed to register as a money services business with the Centre.

Date Modified: