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FINTRAC updates a slew of guidance documents

Updates to guidance on FINTRAC’s website We wish to inform all reporting entities subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated Regulations of recent updates to the following guidance on FINTRAC’s website: Reporting large virtual currency transactions (LVCTRs) to FINTRAC In September 2021, […]

New human trafficking info from FINTRAC

FINTRAC provides additional money laundering indicators associated with human trafficking for sexual exploitation in support of Project Protect On this World Day Against Trafficking in Persons, FINTRAC has published its latest Operational Alert, Updated Indicators: Laundering of proceeds from human trafficking for sexual exploitation. Following a strategic analysis of its financial […]

FINTRAC’s updating its guidance…

Publication of Updated and New Guidance FINTRAC has updated its guidance on compliance program requirements, methods to verify the identity of persons and entities, third party determination requirements, and reporting terrorist property to reflect regulatory amendments coming into force on June 1, 2021, and has updated its FAQ about domestic politically exposed persons and heads of international […]

Nothing like a little prior notice: FINTRAC publishes new AML guidances, effectiveness in June

Publication of updated FINTRAC client identification, record keeping and other guidance FINTRAC has updated its record keeping, client identification, beneficial ownership, and correspondent banking guidance to reflect regulatory amendments coming into force on June 1, 2021, and its foreign branches, foreign subsidiaries and affiliates requirements guidance by aligning its formatting with recently published guidance pieces. Please note that […]