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One last time…

Le français suit  Posted on OSFI’s website: Update on jurisdictions with strategic deficiencies identified by the Financial Action Task Force (FATF). OSFI will no longer be sending email updates of FINTRAC advisories. To be notified of FINTRAC updates, you may wish to join its mailing list, subscribe to its RSS feed or follow FINTRAC on […]

Canada amends its AML regulations

From FINTRAC, Canada’s FIU: Amendments to the Regulations under the PCMLTFA On June 10, amendments to the Regulations under the PCMLTFA were published in theCanada Gazette. Among the changes, all reporting entity sectors will have obligations regarding politically exposed persons and beneficial ownership.

FINTRAC updates STR guidance

April 2020 This guidance will come into force on 1st June 2020. All reporting entities (REs) and individuals employed by REs must report suspicious transactions under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated Regulations. If you are an individual who works for an RE and […]

FINTRAC issues advisory related to FATF guidance

6 December, 2019 – FINTRAC Advisory: Financial transactions related to countries identified by the Financial Action Task Force (FATF)  On October 18, 2019, the Financial Action Task Force (FATF) issued a Public Statement and a statement on Improving Global Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Compliance. These […]

FINTRAC provides update for virtual currency dealers

Businesses dealing in virtual currencies can register with FINTRAC in advance of June 1, 2020  The Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations were amended in June 2019 to cover businesses that deal in virtual currencies. To deal in virtual currencies means to provide virtual currency exchange services […]

Love is in the air: FINTRAC, AML & Romance Fraud

Operational alert: Laundering of the proceeds of romance fraud Issued in partnership with the Canadian Anti-Fraud Centre Romance fraud involves perpetrators expressing false romantic intentions toward victims to gain and then take advantage of their trust and affection in order to access their cash, bank accounts and credit cards. The […]