Spence Diamonds Ltd.

Why it is here

Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) — administrative monetary penalty (penalty $264,000; 5 violations of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act; Spence Diamonds will pay the administrative monetary penalty in full and proceedings have ended), from 8 May 2025.

Administrative monetary penalty imposed by FINTRAC, Canada's financial intelligence unit, for violations of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act — the anti-money-laundering duties of banks, casinos, real estate, money services and other reporting businesses.

Details

Company

Spence Diamonds Ltd.

Authority

Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

Decision

Administrative monetary penalty

Grounds and details, as published

penalty $264,000; 5 violations of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act; Spence Diamonds will pay the administrative monetary penalty in full and proceedings have ended

From

8 May 2025

Until

—

Status

End date not published

Source

https://fintrac-canafe.canada.ca/pen/4-eng

Licence

Public notice — FINTRAC (Government of Canada)