FINTRAC’s act and regulations
From: Financial Transactions and Reports Analysis Centre (FINTRAC)
List of the act and regulations relevant to the work performed by the Financial Transactions and Reports Analysis Centre (FINTRAC).
On this page
- Proceeds of Crime (Money Laundering) and Terrorist Financing Act
- Associated regulations
- Related links
Proceeds of Crime (Money Laundering) Act
The Proceeds of Crime (Money Laundering) Act was amended in December 2001 to become the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).
The object of the PCMLTFA is:
- to implement specific measures to detect and deter money laundering and the financing of terrorist activities to facilitate the investigation or prosecution of money laundering and terrorist financing offences, including
- establishing record keeping and client identification requirements for financial services providers and other persons that engage in businesses, professions or activities that are susceptible to being used for money laundering, and the financing of terrorist activities, (For more information, see Who must report?)
- requiring the reporting of suspicious financial transactions and of cross-border movements of currency and monetary instruments, and
- establishing an agency that is responsible for dealing with reported and other information;
- to respond to the threat posed by organized crime by providing law enforcement officials with the information they need to investigate and prosecute money laundering or terrorist financing offences, while ensuring that appropriate safeguards are put in place to protect the privacy of persons with respect to personal information about themselves; and
- to assist in fulfilling Canada's international commitments to participate in the fight against transnational crime, particularly money laundering and the fight against terrorist activities.
A consolidated version of the PCMLTFA has been prepared for ease of reference by the Department of Justice Canada. It takes into account amendments that have been made to the PCMLTFA since its initial enactment and that are
Associated regulations
Main regulations
Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations
About this regulations
This regulations prescribes:
- customer identification requirements;
- record keeping requirements;
- transactions that must be reported (such as large cash transactions, electronic funds transfers and casino disbursements); and
- compliance regime requirements.
For more information on this regulation, consult the FINTRAC Guidelines.
Legislative change
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 original Regulations or amendments.
Reference
Canada Gazette, Part II, SOR/2002-184 (PDF 832 KB) as amended by the following Statutory Orders and Regulations (SOR):
- SOR/2002-413 (PDF 390 KB)
- SOR/2003-102 (PDF 118 KB)
- SOR/2003-358 (PDF 1.12 MB)
- SOR/2007-122 (PDF 4.78 MB) (These amendments came into force on several different dates.)
- SOR/2007-293 (PDF 4.06 KB) (These amendments came into force on several different dates.)
- SOR/2008-21 (PDF 2.53 MB) (These amendments came into force on several different dates.)
- SOR/2008-195 (PDF 5.85 MB) (These amendments came into force on June 23, 2008.)
- SOR/2008-233 (PDF 1.18 MB) (These amendments came into force on July 28, 2008.)
- SOR/2009-265 (These amendments came into force on two different dates.)
- SOR/2013-15 (These amendments came into force on February 1, 2014.)
- SOR/2016-153 (These amendments came into force on two different dates.)
- SOR/2019-240 (These amendments came into force on several different dates.)
- SOR/2020-112 (These amendments to SOR/2019-240 came into force on May 20, 2020.)
- SOR/2022-76 (These amendments came into force on April 5, 2022.)
Suspicious transactions reg.
Proceeds of Crime (Money Laundering) and Terrorist Financing Suspicious Transaction Reporting Regulations
About this regulations
This regulations prescribes:
- the entities that are subject to Part I of the PCMLTFA;
- the information that must be in a suspicious transaction report and a terrorist property report;
- the time limits and the format of the reports; and
- the "designated information" which FINTRAC can disclose.
For more information on this regulation, consult the FINTRAC Guidance.
Legislative change
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 original Regulations or amendments.
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):
- SOR/2002-184 (PDF 833 KB)
- SOR/2003-102 (PDF 118 KB)
- SOR/2003-358 (PDF 1.12 MB)
- SOR/2007-122 (PDF 4.78 MB) (These amendments came into force on two different dates.)
- SOR/2007-293 (PDF 4.06 MB) (These amendments came into force on several different dates.)
- SOR/2008-21 (PDF 2.53 MB) (These amendments came into force on several different dates.)
- SOR/2008-195 (PDF 5.85 MB) (These amendments came into force on June 23, 2008.)
- SOR/2009-265 (These amendments came into force on two different dates.)
- SOR/2016-153 (These amendments came into force on two different dates.)
- SOR/2019-240 (These amendments came into force on several different dates.)
- SOR/2020-112 (These amendments to SOR/2019-240 came into force on May 20, 2020.)
Cross-border currency reg.
Cross-Border Currency and Monetary Instruments Reporting Regulations
About this regulations
This regulations among other things:
- defines "monetary instruments";
- prescribes the reporting threshold at $10,000; and
- prescribes the manner of reporting to the CBSA.
For more information about this regulation, refer to the Canada Border Services Agency (CBSA) website.
Legislative change
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 original Regulations or amendments.
Reference
Canada Gazette, Part II, SOR/2002-412 (PDF 390 KB) as amended by the following Statutory Orders and Regulations (SOR):
- SOR/2003-358 (PDF 1.12 MB)
- SOR/2019-240 (These amendments came into force in June 2020.)
- SOR/2020-112 (These amendments to SOR/2019-240 came into force on May 20, 2020.)
Registration reg.
Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations
About this regulations
This regulations came into force on June 23, 2008.
It prescribes applications, notifications, clarifications and supplementary information for money services business (MSB) registration.
For more information, consult the Money services businesses (MSBs) pages.
Legislative change
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 original Regulations or amendments.
Reference
Canada Gazette, Part II, SOR/2007-121 (PDF 4.78 MB) as amended by the following Statutory Orders and Regulations (SOR):
- SOR/2008-21 (PDF 2.53 MB)
- SOR/2008-195 (PDF 5.85 MB)
- SOR/2016-153 (These amendments came into force on two different dates.)
- SOR/2019-240 (These amendments came into force on several different dates.)
Penalties reg.
Proceeds of Crime (Money Laundering) and Terrorist Financing Administrative Monetary Penalties Regulations
About this regulations
This regulations 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.
Legislative change
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 original Regulations or amendments.
Reference
Canada Gazette, Part II, SOR/2007-292 (PDF 4.06 MB) as amended by the following Statutory Orders and Regulations (SOR):
- SOR/2008-194 (PDF 5.85 MB) (These amendments came into force on several different dates.)
- SOR/2016-153 (These amendments came into force on two different dates.)
- SOR/2019-240 (These amendments came into force in June 2021.)
- SOR/2020-112 (These amendments to SOR/2019-240 came into force on May 20, 2020.)
- SOR/2022-76 (These amendments came into force on April 5, 2022.)
Related links
- General information on Part 1.1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act: Guidance (Department of Finance Canada)
- Comment on proposed regulations (Canada Gazette)
- Ministerial directives and transaction restrictions
- FINTRAC's Interpretation policy
- Policy interpretations database
- FINTRAC interpretation notices
- Date Modified: