News

Quebec authority goes after unlicensed ATM operators

August 24, 2016

Autorite des marches financiers, the regulatory and oversight body for Quebec's financial sector, has filed proceedings in Montreal against 10 businesses for operating unlicensed ATMs, according to a press release.

"While continuing our efforts to remind businesses of their obligations under the Money‑Services Businesses Act, we are taking action against the illegal operation of private automated teller machines," AMF Executive Director of Enforcement Jean-Francois Fortin said in the release.

Proceedings have been initiated against the following:

• 404 Solutions Inc. (doing business as Brisket Montreal-Salon Krausmann);
• 9316-7443 Quebec Inc.;
• Bar Aigle Noir;
• Cafe Bar Padula Inc.;
• Depanneur Datang;
• Gestion Pierre Latourelle Inc. (doing business as Bar Pub Maisonneuve);
• Le Jardin de Lin Ching;
• Resto l'entrepot Mont-Royal Ltee;
• Women's Wellness Centre; and
• Yuan Zhou.

Each business faces one charge for the illegal operation of an automated teller machine.

All businesses except Yuan Zhou face minimum fines of $15,000. As a sole proprietorship, Yuan Zhou is liable for a minimum fine of $5,000.

Since the act came into force, the AMF has used information campaigns to reach as many operators of money-services businesses as possible, the release said.

The AMF also has arranged with Revenu Quebec to receive updates on ATM operator compliance following that agency's tax inspection visits.