FINTRAC has announced that it has imposed an administrative monetary penalty on Birks Group Inc., also operating as Birks. Following a compliance examination, this dealer in precious metals and precious stones (DPMS) with retail locations across Canada, was imposed an administrative monetary penalty of $51,562.50 on March 11, 2026 for non-compliance with the Proceeds of Crime (Money Laundering) and terrorist Financing Act and associated Regulations.

Violations Included:

1. No up-to-date written compliance policies and procedures approved by a senior officer.
2. Failure to assess and document AML/ATF risks as required.
3. Failure to conduct and document the mandatory effectiveness review of their compliance program.

The DPMS has appealed the decision to the Federal Court.

News release: https://fintrac-canafe.canada.ca/new-neuf/nr/2026-05-05-2-eng