Anti-money laundering (AML) legislation in Canada is contained within the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its regulations. Canada’s Financial Intelligence Unit and the Financial Transactions and Reports Analysis Center of Canada (FINTRAC), are responsible for ensuring compliance under certain sections of AML legislation.
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Organizations Impacted: Details about the businesses and individuals subject to Canada’s Anti-Money Laundeirng legislation.
AML Compliance Requirements: A brief explanation about the obligations imposed by Canada’s Anti-Money Laundering legislation.
AML Compliance Regulators: A listing of entities authorized to conduct compliance examinations on FINTRAC’s behalf.
Importance of AML Compliance: Motivations for compliance, and consequences for non-compliance with Canada’s Anti-Money Laundering legislation.
FINTRAC Fines and Penalties: Details about FINTRAC’s compliance powers, a listing of published FINTRAC enforcement actions, and our famous FINTRAC Penalty Tally.
Economic Sanctions Compliance: A brief explanation of Canada’s economic sanctions framework, and our soon-to-be-famous economic sanctions cheat sheet.
Anti-money laundering (AML) legislation in Canada is contained within the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its regulations. Canada’s Financial Intelligence Unit and the Financial Transactions and Reports Analysis Center of Canada (FINTRAC), are responsible for ensuring compliance under certain sections of AML legislation.
Read more about: