Regulations

There are five regulations under the PCMLTFA

  1. The Proceeds of Crime (Money Laundering) and Terrorist Financing Suspicious Transaction Reporting Regulations
  2. The Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations
  3. The Cross-Border Currency and Monetary Instruments Reporting Regulations
  4. The Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations
  5. The Proceeds of Crime (Money Laundering) and Terrorist Financing Administrative Monetary Penalties Regulations

The Proceeds of Crime (Money Laundering) and Terrorist Financing Suspicious Transaction Reporting Regulations

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This regulation prescribes:

  • the entities that are subject to Part I of the Act;
  • the information that must be in a suspicious transaction report and a terrorist property report;
  • the time limits and the format of the reports;
  • the "designated information" which FINTRAC can disclose.

For more information on this regulation, consult the FINTRAC Guidelines.

A consolidated version of the Proceeds of Crime (Money Laundering) And Terrorist Financing Suspicious Transaction Reporting Regulations has been prepared for ease of reference by the Department of Justice Canada. It takes into account amendments that have been made to the regulations since their initial publication and that are currently in force. The consolidation does not replace the official versions of the Regulations referenced above.

Reference:

Canada Gazette, Part II, SOR/2001-317 (PDF 1.32 MB see page 1927) as amended by the following Statutory Orders and Regulations (SOR):


The Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

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Amendments to reporting entity obligations have been approved. The changes will take effect on February 1, 2014. More information about each change will be available in updates to the FINTRAC Guidelines in the fall of 2013.

This regulation prescribes:

  • customer identification requirements;
  • record keeping requirements;
  • transactions that must be reported (such as large cash transactions, electronic funds transfers and casino disbursements);
  • compliance regime requirements.

For more information on this regulation, consult the FINTRAC Guidelines. Updated information about the recent changes to reporting entity obligations will be available in the fall of 2013.

A consolidated version of the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations has been prepared for ease of reference by the Department of Justice Canada. It takes into account amendments that have been made to the regulations since their initial publication and that are currently in force. The consolidation does not replace the official versions of the Regulations referenced above.

Reference:

Canada Gazette, Part II, SOR/2002-184 (PDF 832 KB) as amended by the following Statutory Orders and Regulations (SOR):


The Cross-Border Currency and Monetary Instruments Reporting Regulations

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This regulation, among other things:

  • defines “monetary instruments”;
  • prescribes the reporting threshold at $10,000;
  • prescribes the form and manner for reporting to CBSA.

For more information about this regulation, refer to the Canada Border Services Agency (CBSA) Web site.

A consolidated version of the Cross-Border Currency and Monetary Instruments Reporting Regulations has been prepared for ease of reference by the Department of Justice Canada. It takes into account amendments that have been made to the regulations since their initial publication and that are currently in force. The consolidation does not replace the official versions of the Regulations referenced above.

Reference:

Canada Gazette, Part II, SOR/2002-412 (PDF 390 KB) as amended by the following Statutory Orders and Regulations (SOR):


The Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations

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This regulation came into force on June 23, 2008.

It prescribes applications, notifications, clarifications and supplementary information for money services business (MSB) registration.

For more information on this regulation, consult the MSB registration publications.

A consolidated version of the Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations has been prepared for ease of reference by the Department of Justice Canada. It takes into account amendments that have been made to the regulations since their initial publication and that are currently in force. The consolidation does not replace the official versions of the Regulations referenced above.

Reference:

Canada Gazette, Part II, SOR/2007-121 (PDF 4.78 MB) as amended by the following Statutory Orders and Regulations (SOR):


The Proceeds of Crime (Money Laundering) and Terrorist Financing Administrative Monetary Penalties Regulations

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This regulation came into force on December 30, 2008.

It sets out the specific violations and the classification of those violations as minor, serious or very serious.

A consolidated version of the Proceeds of Crime (Money Laundering) and Terrorist Financing Administrative Monetary Penalties Regulations has been prepared for ease of reference by the Department of Justice Canada. It takes into account amendments that have been made to the regulations since their initial publication and that are currently in force. The consolidation does not replace the official versions of the Regulations referenced above.

Reference:

Canada Gazette, Part II, SOR/2007-292 (PDF 4.06 MB) as amended by the following Statutory Orders and Regulations (SOR):