FINTRAC’s video series on methods to verify the identity of a client
FINTRAC publishes the first of a series of videos on prescribed methods that can be used to verify the identity of a person or an entity. The first video explains how to use the government-issued photo identification document method.
All businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its Regulations must verify their clients’ identity using prescribed methods as part of their “know your client” obligations. Taking the anonymity out of financial transactions deters criminals from accessing Canada’s financial system and ensures FINTRAC receives the information it needs to generate actionable financial intelligence for Canada’s law enforcement and national security agencies.
To learn more, view Verifying the identity of a client: Government-issued photo ID methodand refer to FINTRAC’s guidance on Methods to verify the identity of persons and entities.FINTRAC Notice
Categories: Anti-Money Laundering Customer Due Diligence (CDD) Customer Identification Program (CIP) Education FINTRAC Updates Online Resources Training
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