FINTRAC Guidelines
Effective June 17, 2017, amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated Regulations will result in new obligations related to politically exposed persons (domestic and foreign) (PEPs) and heads of international organizations. FINTRAC has published guidance describing these obligations.
FINTRAC has also updated guidelines 3A, 3B, 5, 7A, 7B, 8A, 8B, 8C, 10A and 10B to indicate upcoming minor changes to suspicious transaction, large cash transaction, casino disbursement and terrorist property reporting forms, as well as a change to our reference to the Bank of Canada’s exchange rate.
In March 2017, FINTRAC published guidance related to amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations (PCMLTFR) on definitions, signatures, risk assessments and record keeping.
Please direct questions about the new guidance or changes to the reporting forms to guidelines-lignesdirectrices@fintrac-canafe.gc.ca.
Please note that you have a transition period of one year (June 30, 2016 to June 30, 2017) to adopt new methods to ascertain the identity of clients. There was a previous error on our website indicating that the transition year was June 30, 2016 to June 17, 2017 and we are re-publishing to correct this on the FINTRAC website. You have until June 30, 2017 to use either the methods to ascertain identity described in Guideline 6: Record Keeping and Client Identification or the new methods (described in the Guideline Methods to ascertain the identity of individual clients). After June 30, 2017, Guideline 6 : Record Keeping and Client Identification will be obsolete and no longer available online.
Guideline archives
To receive a copy of a previously published Guideline, please contact guidelines-lignesdirectrices@fintrac-canafe.gc.ca
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