MNP LLP Anti-Money Laundering Compliance Blog

Monthly Archives: July 2010

Updates to Anti-Money Laundering Legislation under Bill C-9 (Jobs and Economic Growth Act)

By Matthew McGuire | July 29th, 2010
By Amber D. Scott In 2010, the federal budget announced new measures to strengthen the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA, the Act).  These were included in Bill C-9, the Jobs and Economic Growth Act.  Below is a description of the major changes under that legislation, and what they may mean [...]
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B.C. Lottery Corporation fined $670,000 by FINTRAC

By Matthew McGuire | July 21st, 2010
***Update Note added November 4, 2010:  This B.C. Lottery Corporation filed a Federal appeal notice on October 29, 2010, which includes a complaint about the early release of the information related to the alleged violations.  The fine amount was actually $695,750 according to the notice.  See the article published by the Vancouver Sun here:  http://www.vancouversun.com/entertainment/Lotteries+appeals+money+laundering+fine/3777814/story.html. [...]
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What happens on June 24th?

By Matthew McGuire | July 12th, 2010
Some of our clients have been asking us about the significance of June 24, 2010 to AML/CTF compliance.  While this date is not specifically mentioned in an legislation, the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) came into force on June 23rd, 2008.  There are several provisions in the PCMLTFA and the [...]
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