Video 4 – Verifying the identity of a client: Affiliate or member method
From: Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)
This video explains how to use the affiliate or member method to verify the identity of a person, which is one of the 5 prescribed methods by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act) and associated Regulations.
It is intended for businesses or reporting entities, subject to the Act and associated Regulations.
Video
Video length: 2:37 minutes
Catalogue number: FD4-31/1-2023E-MP4
ISBN: 978-0-660-48502-7
Descriptive transcript of the video "Verifying the identity of a client: Affiliate or member method"
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[Start of video] [Music] At the Financial Transactions and Reports Analysis Centre of Canada (or FINTRAC), we are committed to helping regulated businesses meet their compliance obligations. This includes the fundamental requirement to verify the identity of a client when conducting certain transactions. |
Text on screen: Verifying the identity of a client – Affiliate or member method Text on screen: Financial Transactions and Reports Analysis Centre of Canada Animation: FINTRAC logo with 10 icons representing the following sectors:
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There are 5 methods you can use to verify the identity of a person. |
Text on screen (next to the silhouette of a person):
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This video explains how to use the affiliate or member method. |
Animation: The list of methods disappear but the silhouette of a person remains in the frame. A laptop appears on the left side of the silhouette along with title above both the laptop and silhouette. Text on screen (title above the laptop and person): 4) Affiliate or member method Animation: The word “You” appears on the screen of the left laptop |
To use this method, you must confirm that your affiliate or member has previously verified the person's identity using:
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Animation: A second laptop appears on the other (right) side of the silhouette displaying the words “Your affiliate or member” on its screen. Lines with checkmarks emit from the right laptop connecting to images representing:
Text on screen (appearing on the other images):
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You must also be satisfied that the information you have obtained is valid and current. |
Text on screen:
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An affiliate is defined as an entity that is affiliated with another entity:
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Animation: One laptop remains and is moved to the centre of the frame as the definition of ‘Affiliate’ appears on its screen Text on screen: An entity that is affiliated with another entity if one of them is wholly owned by the other, if both are wholly owned by the same entity, or if their financial statements are consolidated |
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An affiliate, foreign affiliate or member must be one of the following:
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Animation: The laptop exits the frame, revealing an outline of a world map and words appear across the map. Text on screen:
Animation: The frame zooms in over Canada. Across the centre of the map, under the word “Affiliate”, is a larger building with dotted lines emitting toward smaller buildings situated in Vancouver, Toronto and Montréal. Animation: The frame then zooms back out displaying the world map and the words “Foreign affiliate”. More dotted lines emit from the larger building situated in Canada to other buildings situated in the USA, United Kingdom, and Singapore. Animation: The map transforms into a rotating globe as words appear across it. Text on screen: |
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When using this method, you must:
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Animation: An open laptop replaces the globe. A folder opens revealing a document image bearing the name “John Doe”. A mouse clicks to reveal the full document bearing information related to John Doe’s identity along with a scanned image resembling a government-issued photo ID. Text on screen: Animation: The laptop shrinks to the left of the frame as the silhouette image appears beside the laptop bearing the same identification information as what appears on the document image on the laptop. A dotted line and checkmark connects the matching information on the document and ID with the information on the silhouette of a person. |
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If you have any concerns about the method or information used by your affiliate or member, you should re-verify the person’s identity, as you are responsible for ensuring it has been verified. |
Animation: The silhouette disappears as the laptop with the opened identification document moves to the centre of the frame. Question marks pop up around the laptop. The silhouette then reappears followed by a checkmark in front of it. |
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This video series is designed to help businesses understand their identity verification obligations under Canada’s federal anti-money laundering/anti-terrorist financing law. |
Animation: The frame transforms into the FINTRAC logo with 10 icons representing the following sectors:
Text on screen: Proceeds of Crime (Money Laundering) and Terrorist Financing Act |
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Please refer to the PCMLTFA and associated Regulations for the full description of your obligations. |
Text on screen: PCMLTFA |
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Together, we can all help to safeguard Canadians and the integrity of Canada’s financial system |
Animation: Then the logo morphs into a map of Canada where lines light up as they crisscross and connect various dots on the map |
[Music fading out] |
Text on screen: For more information about your compliance obligations, including other ways to verify the identity of a client, visit: fintrac-canafe.canada.ca |
[End of video] |
Canada wordmark |
Related links
- Methods to verify the identity of persons and entities
- Video 1 – Verifying the identity of a client: Government-issued photo ID method
- Video 2 – Verifying the identity of a client: Credit file method
- Video 3 – Verifying the identity of a client: Dual-process method
- Video 5 – Verifying the identity of a client: Reliance method
- Date Modified: