Canada’s financial intelligence agency has levied a $77,137.50 penalty against Griffin Jewellery Designs Inc. for failing to meet obligations under federal anti-money laundering and anti-terrorist financing laws.

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) said the fine was imposed on Oct. 17 following a compliance examination. The Ontario-based retailer operates 21 locations across Ontario, Nova Scotia, and New Brunswick.

FINTRAC said Griffin Jewellery Designs did not develop and maintain written compliance policies approved by a senior officer, failed to assess and document risks related to money laundering or terrorist financing, and did not conduct a required review of its compliance program every two years.

The company has paid the penalty in full, and the case is closed.

In a statement, FINTRAC chief executive Sarah Paquet said the regime is designed to protect Canadians and the economy, adding the agency works with businesses to help them comply but will act when necessary.

Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, businesses in sectors such as casinos, real estate and financial services must keep records, identify clients and report certain transactions. Administrative penalties are intended to encourage compliance.

FINTRAC issued 23 notices of violation in 2024–25, the most in a single year, totalling more than $25 million. Since 2008, the agency has imposed more than 150 penalties across multiple sectors.