* Fintrac chooses not to name bank
* Agency says wants to send strong message of deterrence
(Adds comment from Fintrac)
TORONTO, April 5 (Reuters) - Canada's financial intelligence
agency has fined an unnamed Canadian bank C$1.1 million
(US$837,330) for failing to report a suspicious transaction and
various money transfers.
This is the first time the Financial Transactions and
Reports Analysis Centre of Canada, known as Fintrac, has
penalised a bank.
Fintrac did not disclose which bank had been penalized.
"In this particular case we are exercising our discretion to
withhold the name of the bank and we're doing that so we can
send a strong message of deterrence now and to bring about
improved compliance behaviour as quickly as possible," a Fintrac
spokesman said.