By Maiya Keidan

TORONTO (Reuters) -Canada’s anti-money laundering regulator said on Wednesday it had imposed a C$176.9 million ($126.14 million) fine on money services business Xeltox Enterprises Limited, the largest-ever penalty doled out by the agency.

The regulator, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), said Xeltox did not submit suspicious transaction reports when there were reasonable grounds to suspect transactions related to the laundering of money connected to trafficking in child sexual abuse material.

Xeltox, also operating as Cryptomus and previously known as Certa Payments Limited, is a money services business incorporated in British Columbia. It could not be reached for comment.

“Given that numerous violations in this case were connect

See Full Page