The Autorité des marchés financiers (the “AMF”) has filed penal proceedings in the district of Montreal against ten businesses for operating automated teller machines without holding the required license to do so.
“While continuing our efforts to remind businesses of their obligations under the Money‑Services Businesses Act (the “Act”), we are taking action against the illegal operation of private automated teller machines,” pointed out Jean-François Fortin, AMF Executive Director, Enforcement.
Proceedings have been initiated against the following:
- 404 Solutions inc. (operating under the name Brisket Montréal-Salon Krausmann);
- 9316-7443 Québec inc.;
- Bar Aigle Noir;1
- Café Bar Padula inc.;
- Dépanneur Datang;
- Gestion Pierre Latourelle inc. (operating under the name Bar Pub Maisonneuve);
- Le Jardin de Lin Ching;2
- Resto l’entrepôt Mont-Royal Ltée;
- Women’s Wellness Centre;3
- Yuan Zhou.
Each business faces one charge for the illegal operation of an automated teller machine. The businesses are liable to minimum fines of $15,000; Yuan Zhou is liable to a minimum fine of $5,000 as a sole proprietorship.
Since the Act came into force, the AMF has been running information campaigns to reach as many operators of money-services businesses as possible. Multilingual notices have also appeared in weekly publications distributed to various cultural communities. More recently, the AMF reached a partnership agreement with Revenu Québec to ensure that relevant information about compliance with the Act by operators of automated teller machines is transmitted to the AMF, following the agency’s tax inspection visits. In addition, the AMF will continue its discussions and collaboration with other partners to ensure compliance with the provisions of the Act.