A North Vancouver-based real estate brokerage is among two companies fined for violating Canada’s anti-money laundering laws, with the more serious penalty issued to a Vancouver firm.
The federal financial intelligence agency announced that it has imposed a $41,085 fine on Pacesetter Marketing Ltd., a real estate brokerage on Lonsdale Avenue in North Vancouver. The penalty was issued on June 24, 2025, following a compliance examination under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
FINTRAC found that Pacesetter Marketing failed to develop and maintain up-to-date written compliance policies and procedures approved by a senior officer, failed to assess and document risks, and failed to conduct and report the required review of its compliance program.
The company will pay the penalty in full, and the case is now closed.
In a separate action, FINTRAC also fined 1135233 B.C. Ltd., which operates as LeHomes Realty Premier in Vancouver, a total of 149,886 dollars for multiple breaches of the same legislation. The agency said the brokerage failed to file a suspicious transaction report when required, failed to ensure it had a designated person responsible for its compliance program, and did not have adequate policies for record-keeping, third-party determination, business relationships, and ongoing monitoring.
It also failed to properly assess the risks associated with its products, location and clients, did not have a complete staff training program, and kept incomplete client identification records. LeHomes Realty Premier will also pay its full penalty.
In a statement, FINTRAC director and chief executive officer Sarah Paquet said the federal regime is designed to protect Canadians and the country’s economy, and that while the agency works with businesses to help them comply, it will take enforcement action when necessary.
