Atlantic Lottery Corporation has paid an administrative penalty for violating rules established to report money laundering and terrorist financing.

The fine of $212,025 was imposed May 29th by the Financial Transactions and Reports Analysis Centre of Canada for failing to report a suspicious transaction among other things.

The obligations in the Anti-Money Laundering and Anti-Terrorist Financing Act are intended to deter criminals and terrorists from operating in the legitimate economy and ensure that the agency receives the reporting necessary to generate financial intelligence for law enforcement and national security.

Acting Director and CEO of FINTRAC, Stephane Sirard says they will take firm action when required to ensure that businesses do their part and fulfill those obligations.

More than 180 penalties have been imposed by FINTRAC since 2008.