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FINTRAC’s act and regulations

From: Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

List of the act and regulations relevant to the work performed by FINTRAC.

On this page

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 (the Act).

The object of the Act is:

A consolidated version of the Act has been prepared for ease of reference by the Department of Justice Canada. It takes into account amendments that have been made to the Act since its initial enactment and that are currently in force. However, it does not replace the official version.

Associated regulations Updated on October 12, 2023


Main regulations

Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

About these regulations

These regulations prescribe:

  • 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 these regulations, consult Guidance and resources for businesses (reporting entities).

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):

Suspicious transactions

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

About these regulations

These regulations prescribe:

  • 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, and
  • the "designated information" which FINTRAC can disclose

For more information on these regulations, consult Guidance and resources for businesses (reporting entities).

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):

Cross-border currency

Cross-Border Currency and Monetary Instruments Reporting Regulations

About these regulations

These regulations among other things:

  • define "monetary instruments"
  • prescribe the reporting threshold at $10,000, and
  • prescribe the manner of reporting to the Canada Border Services Agency (CBSA)

For more information about these regulations, refer to Canada Border Services Agency.

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):

Registration

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

About these regulations

These regulations came into force on June 23, 2008.

They prescribe applications, notifications, clarifications and supplementary information for money services business registration.

For more information, consult Money services businesses and foreign money services businesses.

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):

Penalties

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

About these regulations

These regulations came into force on December 30, 2008.

They set 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/2023-193 (These amendments will come into force on October 11, 2024) Added on October 12, 2023
  • SOR/2023-194 (These amendments will come into force on 2 different dates) Added on October 12, 2023
  • SOR/2022-76 (These amendments came into force on April 5, 2022)
  • SOR/2020-112 (These amendments to SOR/2019-240 came into force on May 20, 2020)
  • SOR/2019-240 (These amendments came into force in June 2021)
  • SOR/2016-153 (PDF) (These amendments came into force on 2 different dates)
  • SOR/2008-194 (PDF 5.85 MB) (These amendments came into force on several different dates)
Assessment of expenses

Financial Transactions and Reports Analysis Centre of Canada Assessment of Expenses Regulations Added on October 12, 2023

About these regulations

These regulations will come into force on April 1, 2024.

They set out the method that FINTRAC will use to charge reporting entities for the annual cost of its compliance program.

Reference

Canada Gazette, Part II, SOR/2023-195 (These regulations will come into force on April 1, 2024) Added on October 12, 2023

Related links

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