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) and Terrorist Financing Act
- Access the associated Regulations
- Related links
Proceeds of Crime (Money Laundering) and Terrorist Financing 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:
- 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, refer to 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 ensuring compliance with Parts 1 and 1.1 of the Act and 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 deprive criminals of the proceeds of their criminal activities, while ensuring that appropriate safeguards are put in place to protect the privacy of persons with respect to personal information about themselves
- 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
- to enhance Canada’s capacity to take targeted measures to protect its financial system and to facilitate Canada’s efforts to mitigate the risk that its financial system could be used as a vehicle for money laundering and the financing of terrorist activities
The Department of Justice Canada is responsible for maintaining the consolidated statutes and regulations for the Government of Canada and has prepared a consolidated version of the Act and associated Regulations for ease of reference.
This version takes into account amendments that have been made to the Act and associated Regulations since their initial enactment, that are currently in force. However, it does not replace the official version.
Consult the Act: Proceeds of Crime (Money Laundering) and Terrorist Financing Act (S.C. 2000, c. 17)
Access the associated Regulations
Main regulations
Proceeds of Crime (Money Laundering) and Terrorist Financing 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 program requirements
For more information on these obligations, consult Guidance and resources for businesses (reporting entities).
Access the Regulations
Consolidated version: Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations (Department of Justice Canada)
Reference
Canada Gazette, Part II, SOR/2002-184 (PDF 832 KB) as amended by the following Statutory Orders and Regulations (SOR):
- SOR/2024-266
- SOR/2024-267
- SOR/2023-193
- SOR/2023-194
- SOR/2022-76
- SOR/2020-112
- SOR/2019-240
- SOR/2016-153
- SOR/2013-15
- SOR/2009-265 (PDF)
- SOR/2008-233 (PDF 1.18 MB)
- SOR/2008-195 (PDF 5.85 MB)
- SOR/2008-21 (PDF 2.53 MB)
- SOR/2007-293 (PDF 4.06 KB)
- SOR/2007-122 (PDF 4.78 MB)
- SOR/2003-358 (PDF 1.12 MB)
- SOR/2003-102 (PDF 118 KB)
- SOR/2002-413 (PDF 390 KB)
Suspicious transactions
Proceeds of Crime (Money Laundering) and Terrorist Financing Suspicious Transaction Reporting Regulations
These regulations prescribe:
- 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 obligations, consult Guidance and resources for businesses (reporting entities).
Access the Regulations
Consolidated version: Proceeds of Crime (Money Laundering) And Terrorist Financing Suspicious Transaction Reporting Regulations (Department of Justice Canada)
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
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 obligations, refer to Canada Border Services Agency.
Access the Regulations
Consolidated version: Cross-Border Currency and Monetary Instruments Reporting Regulations (Department of Justice Canada)
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
These regulations came into force on June 23, 2008.
They prescribe entities not eligible for registration, applications, notifications, clarifications and supplementary information for money services business registration, and renewal information.
For more information, consult Money services businesses and foreign money services businesses.
Access the Regulations
Consolidated version: Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations (Department of Justice Canada)
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
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, as well as penalty information.
For more information, consult Penalties for non-compliance
Access the Regulations
Consolidated version: Proceeds of Crime (Money Laundering) and Terrorist Financing Administrative Monetary Penalties Regulations (Department of Justice Canada)
Reference
Canada Gazette, Part II, SOR/2007-292 (PDF 4.06 MB) as amended by the following Statutory Orders and Regulations (SOR):
Assessment of expenses
Financial Transactions and Reports Analysis Centre of Canada Assessment of Expenses Regulations
About these regulations
These regulations came into force on April 1, 2024.
They set out the method that FINTRAC is using to charge reporting entities for the annual cost of its compliance program.
Access the Regulations
Consolidated version: Financial Transactions and Reports Analysis Centre of Canada Assessment of Expenses Regulations(Department of Justice Canada)
Reference
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: