Regulation · SOR/2002-184

Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

Enabling Act · PROCEEDS OF CRIME (MONEY LAUNDERING) AND TERRORIST FINANCING ACT

Version as of 2025-11-04 Last amended 2025-10-01 1547 sections All versions What changed Schedules Amendments

s. 1
▾ 2 subsections
- (1)
  
  In the Act and in these Regulations, shell bank means a foreign financial institution that
  
  ▾ 2 paragraphs
  
  (a)
  
  does not have a place of business that
  
  ▾ 2 subparagraphs
  
  (i)
  
  is located at a fixed address — where it employs one or more persons on a full-time basis and maintains operating records related to its banking activities — in a country in which it is authorized to conduct banking activities, and
  
  (ii)
  
  is subject to inspection by the regulatory authority that licensed it to conduct banking activities; and
  
  (b)
  
  is not controlled by, or under common control with, a depository institution, credit union or foreign financial institution that maintains a place of business referred to in paragraph (a) in Canada or in a foreign country.
- (2)
  
  The following definitions apply in these Regulations.
s. 1.1

[Repealed, SOR/2019-240, s. 23]
s. 1.11

[Repealed, SOR/2019-240, s. 23]
s. 1.12

[Repealed, SOR/2019-240, s. 23]
s. 1.2

[Repealed, SOR/2019-240, s. 23]
s. 2
▾ 2 subsections
- (1)
  
  For the purposes of subsection 9.3(1) of the Act, a prescribed family member of a politically exposed foreign person, a politically exposed domestic person or a head of an international organization is the mother or father of or
  
  ▾ 5 paragraphs
  
  (a)
  
  their spouse or common-law partner;
  
  (b)
  
  their child;
  
  (c)
  
  their mother or father;
  
  (d)
  
  the mother or father of their spouse or common-law partner; or
  
  (e)
  
  a child of their mother or father.
- (2)
  
  For the purposes of the definitions head of an international organization and politically exposed domestic person in subsection 9.3(3) of the Act, the prescribed period is five years.
s. 3

For the purposes of paragraph 5(l) of the Act, the prescribed precious metals are those defined as precious metals in subsection 1(2).
s. 4

For the purposes of these Regulations, an entity 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.
s. 4.1
For the purposes of these Regulations, a person or entity to which section 5 of the Act applies enters into a business relationship with a client at the earliest of the following events:
▾ 6 subsections
- (a)
  
  the time when the person or entity opens an account for the client, except in the circumstances set out in any of paragraphs 154(1)(a) to (d) and (2)(a) to (l) and (p) and subsection 154(3),
- (b)
  
  the second time that the person or entity is required to verify the identity of the client under these Regulations,
- (c)
  
  if the person or entity is a real estate broker or sales representative, a real estate developer or a title insurer, the first time that the person or entity is required to verify the identity of the client under these Regulations,
- (d)
  
  if the person or entity is a money services business and the client is an entity, the time when the person or entity enters into a service agreement with the client to provide a service referred to in any of subparagraphs 5(h)(i) to (v) of the Act,
- (e)
  
  if the person or entity is a foreign money services business and the client is an entity in Canada, the time when the person or entity enters into a service agreement with the client to provide a service referred to in any of subparagraphs 5(h.1)(i) to (v) of the Act, and
- (f)
  
  if the person or entity is a financing or leasing entity, the time when the person or entity enters into a financing or leasing arrangement with the client in connection with an activity referred to in section 24.15.

PART 1: Requirements To Report Transactions and To Keep Records ▾

Application of Parts 5 and 6 ▾

s. 5

The provisions of this Part are subject to the provisions of Parts 5 and 6.

Financial Entities ▾

s. 6
▾ 2 subsections
- (1)
  
  A financial services cooperative is engaged in a business or profession for the purposes of paragraph 5(i) of the Act.
- (2)
  
  A credit union central is engaged in a business or profession for the purposes of paragraph 5(j) of the Act when it offers financial services to a person, or to an entity that is not a member of that credit union central.
s. 7
▾ 2 subsections
- (1)
  
  A financial entity shall report the following transactions and information to the Centre:
  
  ▾ 4 paragraphs
  
  (a)
  
  the receipt from a person or entity of an amount of $10,000 or more in cash in a single transaction, together with the information set out in Schedule 1;
  
  (b)
  
  the initiation, at the request of a person or entity, of an international electronic funds transfer of $10,000 or more in a single transaction, together with the information set out in Schedule 2;
  
  (c)
  
  the final receipt of an international electronic funds transfer of $10,000 or more in a single transaction, together with the information set out in Schedule 3; and
  
  (d)
  
  the receipt from a person or entity of an amount of $10,000 or more in virtual currency in a single transaction, together with the information set out in Schedule 4.
- (2)
  
  A financial entity is not required to report the transaction and information under paragraph (1)(a), if the amount is received from another financial entity or a public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 8
▾ 3 subsections
- (1)
  
  A financial entity is not required to report the transaction and information under paragraph 7(1)(a) if the following conditions are met:
  
  ▾ 7 paragraphs
  
  (a)
  
  the entity from which or on whose behalf the financial entity receives the amount is a corporation that carries on business as an establishment described in sector 22, 44 (excluding codes 4411, 4412 and 44831) or 45 (excluding code 45392), or code 481, 482, 485 (excluding code 4853), 51711, 51751, 61121 or 61131 of the North American Industry Classification System as that sector or code read on January 31, 2003;
  
  (b)
  
  the amount received is deposited into an account held by the corporation with the financial entity in respect of that business;
  
  (c)
  
  the corporation has had
  
  ▾ 2 subparagraphs
  
  (i)
  
  for the entire preceding 24-month period, an account in respect of that business with the financial entity, or
  
  (ii)
  
  an account in respect of that business with another financial entity for a continuous period of 24 months ending immediately before the corporation opened an account with the financial entity;
  
  (d)
  
  the financial entity has records that indicate that the corporation has deposited an amount of $10,000 or more in cash into that account on an average of at least twice a week during the preceding 12 months;
  
  (e)
  
  the cash deposits made by the corporation are consistent with the corporation’s usual practice in respect of the business;
  
  (f)
  
  the financial entity has taken reasonable measures to determine the source of the cash for those deposits; and
  
  (g)
  
  the financial entity provides to the Centre the information set out in Schedule 5.
- (2)
  
  A corporation referred to in paragraph (1)(a) does not include one that carries on a business related to pawnbroking or whose principal business is the sale of vehicles, vessels, farm machinery, aircraft, mobile homes, jewellery, precious stones, precious metals, antiquities or art.
- (3)
  
  A financial entity that, in accordance with subsection (1), does not report a transaction and information
  
  ▾ 2 paragraphs
  
  (a)
  
  shall report to the Centre a change to the corporation’s name or address, the nature of the corporation’s business or the corporation’s incorporation number within 15 days after the day on which the change is made; and
  
  (b)
  
  shall, at least once every 12 months,
  
  ▾ 3 subparagraphs
  
  (i)
  
  verify that the conditions referred to in subsection (1) continue to be met,
  
  (ii)
  
  ensure that a senior officer of the financial entity confirms that those conditions continue to be met, and
  
  (iii)
  
  send a report to the Centre setting out the corporation’s name and address and the name of the senior officer who gave the confirmation.
s. 9
A financial entity that maintains a list of clients for the purposes of subsection 9(3) of the Act shall
▾ 2 subsections
- (a)
  
  include the name and address of each client in the list; and
- (b)
  
  maintain the list in paper form, or in a machine-readable or electronic form if a paper copy can readily be produced from it.
s. 10

A financial entity shall keep a large cash transaction record in respect of every amount of $10,000 or more in cash that it receives from a person or entity in a single transaction, unless the amount is received from another financial entity or a public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 11

A financial entity shall keep a large virtual currency transaction record in respect of every amount of $10,000 or more in virtual currency that it receives from a person or entity in a single transaction, unless the amount is received from another financial entity or a public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 12
A financial entity shall keep the following records in respect of every account that it opens and of every transaction that is conducted with it, other than those referred to in section 13 or 14:
▾ 20 subsections
- (a)
  
  every signature card;
- (b)
  
  a record for each account holder and every other person — up to three, in the case of a business account — who is authorized to give instructions in respect of the account, containing their name and address, the nature of their principal business or their occupation and, in the case of a person, their date of birth;
- (c)
  
  if an account holder is a corporation, a copy of the part of its official corporate records that contains any provision relating to the power to bind the corporation in respect of the account or transaction;
- (d)
  
  a record that sets out the intended use of the account;
- (e)
  
  a record of every application in respect of the account;
- (f)
  
  every account operating agreement that it creates or receives in respect of the account;
- (g)
  
  a deposit slip in respect of every deposit that is made into the account;
- (h)
  
  every debit and credit memo that it creates or receives in respect of the account, except debit memos that relate to another account at the same branch of the financial entity that created the debit memo;
- (i)
  
  a copy of every account statement that it sends to an account holder;
- (j)
  
  every cleared cheque that is drawn on, and a copy of every cleared cheque that is deposited into, the account, unless
  
  ▾ 2 paragraphs
  
  (i)
  
  the account on which the cheque is drawn and the account into which the cheque is deposited are at the same branch of the financial entity, or
  
  (ii)
  
  the following conditions are met:
  
  ▾ 4 subparagraphs
  
  (A)
  
  an image of the cheque has been recorded on microfilm or on an electronic medium,
  
  (B)
  
  an image of the cheque can be readily reproduced from the microfilm or electronic medium,
  
  (C)
  
  it is possible to readily ascertain where the image of the cheque is recorded, and
  
  (D)
  
  the microfilm or electronic medium is kept for a period of at least five years after the day on which the image of the cheque is recorded;
- (k)
  
  in respect of every credit arrangement that it enters into with a client, a record of the client’s financial capacity, the terms of the credit arrangement, the nature of the client’s principal business or their occupation and, if the client is a person, the name and address of their business or place of work;
- (l)
  
  a foreign currency exchange transaction ticket in respect of every foreign currency exchange transaction;
- (m)
  
  if it receives an amount of $3,000 or more as consideration for the issuance of traveller’s cheques, money orders or similar negotiable instruments from a person or entity other than another financial entity or a person who is acting on behalf of a client that is a financial entity, a record
  
  ▾ 7 paragraphs
  
  (i)
  
  of the date of the receipt,
  
  (ii)
  
  of the person’s or entity’s name and address, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iii)
  
  of the amount received,
  
  (iv)
  
  indicating whether the amount received is in funds or virtual currency and the type and amount of each type of funds and each of the virtual currencies involved,
  
  (v)
  
  of the number of every account that is affected by the transaction, the type of account and the name of each account holder,
  
  (vi)
  
  of every reference number that is connected to the transaction and has a function equivalent to that of an account number, and
  
  (vii)
  
  if the amount received is in virtual currency, of every transaction identifier, including the sending and receiving addresses;
- (n)
  
  if it redeems one or more money orders that total $3,000 or more at the request of a person or entity, a record of
  
  ▾ 7 paragraphs
  
  (i)
  
  the date of the redemption,
  
  (ii)
  
  the person’s or entity’s name and address, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iii)
  
  the total amount of the money order or orders,
  
  (iv)
  
  the name of the issuer of each money order,
  
  (v)
  
  the number of every account that is affected by the redemption, the type of account and the name of each account holder,
  
  (vi)
  
  every reference number that is connected to the redemption and has a function equivalent to that of an account number, and
  
  (vii)
  
  if the redemption involves virtual currency, every transaction identifier, including the sending and receiving addresses;
- (o)
  
  if it initiates an international electronic funds transfer — or any other electronic funds transfer that is a SWIFT MT-103 message or its equivalent — of $1,000 or more at the request of a person or entity, a record of
  
  ▾ 8 paragraphs
  
  (i)
  
  the date on which the electronic funds transfer is initiated,
  
  (ii)
  
  the type and amount of each type of funds that is involved in the initiation,
  
  (iii)
  
  the person’s or entity’s name, address and telephone number, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the exchange rates used and their source,
  
  (v)
  
  the name, and address of each beneficiary,
  
  (vi)
  
  the number of every account that is affected by the initiation, the type of account and the name of each account holder,
  
  (vii)
  
  every reference number that is connected to the electronic funds transfer and has a function equivalent to that of an account number, and
  
  (viii)
  
  the number of every account that is affected by the electronic funds transfer, other than those referred to in subparagraph (vi);
- (p)
  
  if it sends an international electronic funds transfer of $1,000 or more that was initiated by another person or entity, a record of
  
  ▾ 7 paragraphs
  
  (i)
  
  the date on which the electronic funds transfer is sent,
  
  (ii)
  
  if it exchanges fiat currencies in the course of sending the electronic funds transfer, the type and amount of each fiat currency that is involved in the exchange,
  
  (iii)
  
  the exchange rates used and their source,
  
  (iv)
  
  the number of every account that is affected by the electronic funds transfer, the type of account and the name of each account holder,
  
  (v)
  
  every reference number that is connected to the electronic funds transfer and has a function equivalent to that of an account number;
  
  (vi)
  
  the name and address of the person or entity that requested the initiation of the electronic funds transfer, unless that information was not, despite the taking of reasonable measures, included with the transfer and is not otherwise known,
  
  (vii)
  
  the name and address of each beneficiary, unless that information was not, despite the taking of reasonable measures, included with the transfer and is not otherwise known;
- (q)
  
  if it is the final recipient of an international electronic funds transfer of $1,000 or more, a record of
  
  ▾ 11 paragraphs
  
  (i)
  
  the date on which the electronic funds transfer is finally received,
  
  (ii)
  
  the type and amount of each type of funds that is involved in the final receipt,
  
  (iii)
  
  the name and address of each beneficiary, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the date of the remittance,
  
  (v)
  
  the exchange rates used for the remittance and their source,
  
  (vi)
  
  if the remittance is in funds, the type and amount of each type of funds involved in the remittance,
  
  (vii)
  
  if the remittance is not in funds, the type of remittance and its value, if different from the amount of funds finally received,
  
  (viii)
  
  the number of every account that is affected by the final receipt or the remittance, the type of account and the name of each account holder,
  
  (ix)
  
  every reference number that is connected to the electronic funds transfer and has a function equivalent to that of an account number,
  
  (x)
  
  the name and address of the person or entity that requested the initiation of the electronic funds transfer, unless that information was not, despite the taking of reasonable measures, included with the transfer and is not otherwise known,
  
  (xi)
  
  the number of every account that is affected by the electronic funds transfer, other than those referred to in subparagraph (viii), and
- (r)
  
  if it transfers an amount of $1,000 or more in virtual currency at the request of a person or entity, a record of
  
  ▾ 8 paragraphs
  
  (i)
  
  the date of the transfer,
  
  (ii)
  
  the type and amount of each virtual currency that is involved in the transfer,
  
  (iii)
  
  the person’s or entity’s name, address, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the name and address of each beneficiary,
  
  (v)
  
  the number of every account that is affected by the transaction, the type of account and the name of each account holder,
  
  (vi)
  
  every reference number that is connected to the transaction and has a function equivalent to that of an account number,
  
  (vii)
  
  every transaction identifier, including the sending and receiving addresses, and
  
  (viii)
  
  the exchange rates used and their source,
- (s)
  
  if it receives an amount of $1,000 or more in virtual currency for remittance to a beneficiary, a record of
  
  ▾ 11 paragraphs
  
  (i)
  
  the date of the receipt,
  
  (ii)
  
  the type and amount of each virtual currency that is received,
  
  (iii)
  
  the name and address of each beneficiary, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the date of the remittance,
  
  (v)
  
  the exchange rates used for the remittance and their source,
  
  (vi)
  
  if the remittance is in virtual currency, the type and amount of each virtual currency involved in the remittance,
  
  (vii)
  
  if the remittance is not in virtual currency, the type of remittance and its value, if different from the amount of virtual currency received,
  
  (viii)
  
  the number of every account that is affected by the transaction, the type of account and the name of each account holder,
  
  (ix)
  
  every reference number that is connected to the transaction and has a function equivalent to that of an account number,
  
  (x)
  
  every transaction identifier, including the sending and receiving addresses, and
  
  (xi)
  
  the name and address of the person or entity that requested the transfer unless that information was not, despite the taking of reasonable measures, included with the transfer and is not otherwise known;
- (t)
  
  a virtual currency exchange transaction ticket in respect of every virtual currency exchange transaction.
s. 13
A financial entity shall keep the following records in respect of every credit card account that it opens and of every transaction that is connected to that account:
▾ 8 subsections
- (a)
  
  a record for each account holder and every other person — up to three, in the case of a business account — who is authorized to give instructions in respect of the account, containing their name and address, the nature of their principal business or their occupation and, in the case of a person, their date of birth;
- (b)
  
  if an account holder is a corporation, a copy of the part of its official corporate records that contains any provision relating to the power to bind the corporation in respect of the account or transaction;
- (c)
  
  a record of every application in respect of the account;
- (d)
  
  a copy of every credit card statement that it sends to an account holder;
- (e)
  
  a foreign currency exchange transaction ticket in respect of every foreign currency exchange transaction that is connected to the account;
- (f)
  
  if it initiates an international electronic funds transfer of $1,000 or more at the request of a person or entity and the funds are transferred from the account, a record of
  
  ▾ 8 paragraphs
  
  (i)
  
  the date on which the electronic funds transfer is initiated,
  
  (ii)
  
  the type and amount of each type of funds that is involved in the initiation,
  
  (iii)
  
  the person’s or entity’s name, address and telephone number, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the exchange rates used and their source,
  
  (v)
  
  the name and address of each beneficiary,
  
  (vi)
  
  the number of every account that is affected by the initiation, the type of account and the name of each account holder,
  
  (vii)
  
  every reference number that is connected to the electronic funds transfer and has a function equivalent to that of an account number, and
  
  (viii)
  
  the number of every account that is affected by the electronic funds transfer, other than those referred to in subparagraph (vi); and
- (g)
  
  if it is the final recipient of an international electronic funds transfer of $1,000 or more and the remittance to the beneficiary is by payment to the account, a record of
  
  ▾ 10 paragraphs
  
  (i)
  
  the date on which the electronic funds transfer is finally received,
  
  (ii)
  
  the type and amount of each type of funds that is involved in the final receipt,
  
  (iii)
  
  the name and address of each beneficiary, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the date of the remittance,
  
  (v)
  
  the exchange rates used for the remittance and their source,
  
  (vi)
  
  the type and amount of each type of funds involved in the remittance,
  
  (vii)
  
  the number of every account that is affected by the final receipt or the remittance, the type of account and the name of each account holder,
  
  (viii)
  
  every reference number that is connected to the electronic funds transfer and has a function equivalent to that of an account number,
  
  (ix)
  
  the name and address of the person or entity that requested the initiation of the electronic funds transfer, unless that information was not, despite the taking of reasonable measures, included with the transfer and is not otherwise known, and
  
  (x)
  
  the number of every account that is affected by the electronic funds transfer, other than those referred to in subparagraph (vii); and
- (h)
  
  a virtual currency exchange transaction ticket in respect of every virtual currency exchange transaction that is connected to the account.
s. 14
▾ 2 subsections
- (1)
  
  A financial entity shall keep the following records in respect of every prepaid payment product account that it opens and of every transaction that is made by means of a prepaid payment product that is connected to that account:
  
  ▾ 12 paragraphs
  
  (a)
  
  a record of the name and address of each holder of a prepaid payment product account and each authorized user, the nature of their principal business or their occupation and, in the case of a person, their date of birth;
  
  (b)
  
  if an account holder is a corporation, a copy of the part of its official corporate records that contains any provision relating to the power to bind the corporation in respect of the prepaid payment product account or the transaction;
  
  (c)
  
  a record of every application in respect of the prepaid payment product account;
  
  (d)
  
  a prepaid payment product slip in respect of every payment that is made to the prepaid payment product account;
  
  (e)
  
  every debit and credit memo that it creates or receives in respect of the prepaid payment product account;
  
  (f)
  
  a copy of every account statement that it sends to a holder of the prepaid payment product account;
  
  (g)
  
  a foreign currency exchange transaction ticket in respect of every foreign currency exchange transaction that is connected to the prepaid payment product account;
  
  (h)
  
  if it initiates an international electronic funds transfer of $1,000 or more at the request of a person or entity and the funds are transferred from the prepaid payment product account, a record of
  
  ▾ 8 subparagraphs
  
  (i)
  
  the date on which the electronic funds transfer is initiated,
  
  (ii)
  
  the type and amount of each type of funds that is involved in the initiation,
  
  (iii)
  
  the person’s or entity’s name, address and telephone number, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the exchange rates used and their source,
  
  (v)
  
  the name and address of each beneficiary,
  
  (vi)
  
  the number of every account that is affected by the initiation, the type of account and the name of each account holder,
  
  (vii)
  
  every reference number that is connected to the electronic funds transfer and has a function equivalent to that of an account number, and
  
  (viii)
  
  the number of every account that is affected by the electronic funds transfer, other than those referred to in subparagraph (vi);
  
  (i)
  
  if it is the final recipient of an international electronic funds transfer of $1,000 or more and the remittance to the beneficiary is by payment to the prepaid payment product account, a record of
  
  ▾ 11 subparagraphs
  
  (i)
  
  the date on which the electronic funds transfer is finally received,
  
  (ii)
  
  the type and amount of each type of funds that is involved in the final receipt,
  
  (iii)
  
  the name and address of each beneficiary, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the date of the remittance,
  
  (v)
  
  the exchange rates used for the remittance and their source,
  
  (vi)
  
  if the remittance is in funds, the type and amount of each type of funds involved,
  
  (vii)
  
  if the remittance is not in funds, the type of remittance and its value, if different from the amount of funds finally received,
  
  (viii)
  
  the number of every account that is affected by the final receipt or the remittance, the type of account and the name of each account holder,
  
  (ix)
  
  every reference number that is connected to the electronic funds transfer and has a function equivalent to that of an account number, and
  
  (x)
  
  the name and address of the person or entity that requested the initiation of the electronic funds transfer, unless that information was not, despite the taking of reasonable measures, included with the transfer and is not otherwise known,
  
  (xi)
  
  the number of every account that is affected by the electronic funds transfer, other than those referred to in subparagraph (viii);
  
  (j)
  
  if it transfers from a prepaid payment product account an amount of $1,000 or more in virtual currency at the request of a person or entity, a record of
  
  ▾ 8 subparagraphs
  
  (i)
  
  the date of the transfer,
  
  (ii)
  
  the type and amount of each virtual currency that is involved in the transfer,
  
  (iii)
  
  the person’s or entity’s name and address, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the name and address of each beneficiary,
  
  (v)
  
  the number of every account that is affected by the transaction, the type of account and the name of each account holder,
  
  (vi)
  
  every reference number that is connected to the transaction and has a function equivalent to that of an account number,
  
  (vii)
  
  every transaction identifier, including the sending and receiving addresses, and
  
  (viii)
  
  the exchange rates used and their source;
  
  (k)
  
  if it receives an amount of $1,000 or more in virtual currency for remittance to a beneficiary by payment to the prepaid payment product account, a record of
  
  ▾ 11 subparagraphs
  
  (i)
  
  the date of the receipt,
  
  (ii)
  
  the type and amount of each virtual currency that is received,
  
  (iii)
  
  the name and address of each beneficiary, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the date of the remittance,
  
  (v)
  
  the exchange rates used for the remittance and their source,
  
  (vi)
  
  if the remittance is in virtual currency, the type and amount of each virtual currency involved,
  
  (vii)
  
  if the remittance is not in virtual currency, the type of remittance and its value, if different from the amount of virtual currency received,
  
  (viii)
  
  the number of every account that is affected by the transaction, the type of account and the name of each account holder,
  
  (ix)
  
  every reference number that is connected to the transaction and has a function equivalent to that of an account number,
  
  (x)
  
  every transaction identifier, including the sending and receiving addresses, and
  
  (xi)
  
  the name and address of the person or entity that requested the transfer unless that information was not, despite the taking of reasonable measures, included with the transfer and is not otherwise known; and
  
  (l)
  
  a virtual currency exchange transaction ticket in respect of every virtual currency exchange transaction that is connected to the prepaid payment product account.
- (2)
  
  In this section, prepaid payment product slip means a record that sets out
  
  ▾ 6 paragraphs
  
  (a)
  
  the date of a payment to a prepaid payment product account;
  
  (b)
  
  the name of the person or entity that makes the payment;
  
  (c)
  
  the type and amount of each type of funds or each of the virtual currencies involved in the payment;
  
  (d)
  
  the method by which the payment is made;
  
  (e)
  
  the name of each holder of the prepaid payment product account; and
  
  (f)
  
  the account number and, if different, the number that identifies the prepaid payment product that is connected to the account.
s. 14.1

[Repealed, SOR/2019-240, s. 28]
s. 15
▾ 2 subsections
- (1)
  
  A trust company shall also keep the following records in respect of a trust for which it is trustee:
  
  ▾ 3 paragraphs
  
  (a)
  
  a copy of the trust deed;
  
  (b)
  
  a record of the settlor’s name and address and
  
  ▾ 2 subparagraphs
  
  (i)
  
  if the settlor is a person, their date of birth and the nature of their principal business or their occupation, and
  
  (ii)
  
  if the settlor is an entity, the nature of its principal business; and
  
  (c)
  
  if the trust is an institutional trust and the settlor is a corporation, a copy of the part of the official corporate records that contains any provision relating to the power to bind the corporation in respect of the trust.
- (2)
  
  In this section, institutional trust means a trust that is established by a corporation or other entity for a particular business purpose and includes a pension plan trust, a pension master trust, a supplemental pension plan trust, a mutual fund trust, a pooled fund trust, a registered retirement savings plan trust, a registered retirement income fund trust, a registered education savings plan trust, a group registered retirement savings plan trust, a deferred profit sharing plan trust, an employee profit sharing plan trust, a retirement compensation arrangement trust, an employee savings plan trust, a health and welfare trust, an unemployment benefit plan trust, a foreign insurance company trust, a foreign reinsurance trust, a reinsurance trust, a real estate investment trust, an environmental trust and a trust established in respect of an endowment, a foundation or a registered charity.
s. 15.1

[Repealed, SOR/2019-240, s. 28]
s. 16
▾ 5 subsections
- (1)
  
  For the purposes of subsections 9.4(1) and (3) of the Act,
  
  ▾ 2 paragraphs
  
  (a)
  
  a prescribed entity is
  
  ▾ 5 subparagraphs
  
  (i)
  
  an entity referred to in paragraph 5(f) of the Act,
  
  (ii)
  
  a financial services cooperative,
  
  (iii)
  
  a life insurance company, or an entity that is a life insurance broker or agent, in respect of loans or prepaid payment products that it offers to the public or accounts that it maintains with respect to those loans or prepaid payment products, other than
  
  ▾ 3 clauses
  
  (A)
  
  loans that are made by the insurer to a policy holder if the insured person has a terminal illness that significantly reduces their life expectancy and the loan is secured by the value of an insurance policy,
  
  (B)
  
  loans that are made by the insurer to the policy holder for the sole purpose of funding the life insurance policy, and
  
  (C)
  
  advance payments to which the policy holder is entitled that are made to them by the insurer,
  
  (iv)
  
  a credit union central when it offers financial services to a person, or to an entity that is not a member of that credit union central, and
  
  (v)
  
  a department, or an entity that is an agent of His Majesty in right of Canada or an agent or mandatary of His Majesty in right of a province, when it accepts deposit liabilities in the course of providing financial services to the public; and
  
  (b)
  
  a prescribed foreign entity is a foreign financial institution.
- (2)
  
  A financial entity shall, when it enters into a correspondent banking relationship, keep the following records:
  
  ▾ 11 paragraphs
  
  (a)
  
  a record of the foreign financial institution’s name and address, its primary business line and the names of its directors;
  
  (b)
  
  a copy of the foreign financial institution’s most recent annual report or audited financial statement;
  
  (c)
  
  a copy of the foreign financial institution’s banking licence, banking charter, authorization or certification to operate issued by the competent authority under the legislation of the jurisdiction in which the foreign financial institution was incorporated, of its certificate of incorporation or of a similar document;
  
  (d)
  
  a copy of the correspondent banking agreement or arrangement, or product agreements, defining the respective responsibilities of the financial entity and the foreign financial institution;
  
  (e)
  
  a record of the anticipated correspondent banking account activity of the foreign financial institution, including the products or services to be used;
  
  (f)
  
  a written statement from the foreign financial institution that it does not have, directly or indirectly, a correspondent banking relationship with a shell bank;
  
  (g)
  
  a written statement from the foreign financial institution that it is in compliance with anti-money laundering and anti-terrorist financing legislation in every jurisdiction in which it operates;
  
  (g.1)
  
  a record of measures taken to determine the nature of the clientele and markets served by the foreign financial institution;
  
  (h)
  
  a record of the measures taken to ascertain whether any civil or criminal penalties have been imposed on the foreign financial institution in respect of anti-money laundering or anti-terrorist financing requirements and the results of those measures;
  
  (i)
  
  a record of the measures taken to assess the reputation of the foreign financial institution with respect to its compliance with anti-money laundering and anti-terrorist financing requirements and the results of those measures; and
  
  (j)
  
  a record of measures taken to assess the quality of the anti-money laundering and anti-terrorist financing supervision of the jurisdiction in which the foreign financial institution was incorporated and the jurisdiction in which it conducts transactions in the context of the correspondent banking relationship and the results of those measures.
- (3)
  
  The financial entity shall take reasonable measures to ascertain whether the foreign financial institution has in place anti-money laundering and anti-terrorist financing policies and procedures, including procedures for approval for the opening of new accounts and, if the reasonable measures are unsuccessful or the policies and procedures are not in place, shall, for the purpose of detecting any transactions that are required to be reported to the Centre under section 7 of the Act, take reasonable measures to monitor all transactions conducted in the context of the correspondent banking relationship.
- (3.1)
  
  A financial entity that enters into a correspondent banking relationship shall periodically conduct, at a frequency that is appropriate to the level of risk, based on a risk assessment referred to in subsection 9.6(2) of the Act that takes into account the information collected in respect of the foreign financial institution in accordance with the Act and these Regulations, ongoing monitoring of that correspondent banking relationship for the purpose of
  
  ▾ 4 paragraphs
  
  (a)
  
  detecting any transactions that are required to be reported in accordance with section 7 of the Act;
  
  (b)
  
  keeping the information referred to in subsections (2) and (3) and sections 90 and 91 of these Regulations up to date;
  
  (c)
  
  reassessing the level of risk associated with the foreign financial institution’s transactions and activities related to the correspondent banking relationship; and
  
  (d)
  
  determining whether transactions or activities are consistent with the information obtained about the foreign financial institution and with the risk assessment.
- (4)
  
  For greater certainty, section 12 does not apply in respect of an account that is opened for a foreign financial institution in the context of a correspondent banking relationship.

Life Insurance Companies and Life Insurance Brokers or Agents ▾

s. 17
▾ 2 subsections
- (1)
  
  A life insurance broker or agent is engaged in a business or profession for the purposes of paragraph 5(i) of the Act.
- (2)
  
  Subsection (1) does not apply to a life insurance broker or agent when they are acting as a managing general agent.
s. 18
A life insurance company or life insurance broker or agent that receives an amount of $10,000 or more in cash from a person or entity in a single transaction shall report the transaction to the Centre, together with the information set out in Schedule 1, unless
▾ 2 subsections
- (a)
  
  the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body; or
- (b)
  
  the transaction
  
  ▾ 4 paragraphs
  
  (i)
  
  involves the sale of an immediate or deferred annuity that is paid for entirely with funds that are directly transferred from a registered pension plan or from a pension plan that is required to be registered under the Pension Benefits Standards Act, 1985, or similar provincial legislation,
  
  (ii)
  
  involves the sale of a registered annuity policy or a registered retirement income fund,
  
  (iii)
  
  involves the sale of an immediate or deferred annuity that is paid for entirely with the proceeds of a group life insurance policy, or
  
  (iv)
  
  is part of a reverse mortgage or structured settlement.
s. 19

A life insurance company or life insurance broker or agent that receives an amount of $10,000 or more in virtual currency from a person or entity in a single transaction shall report the transaction to the Centre, together with the information set out in Schedule 4.
s. 20
A life insurance company or life insurance broker or agent shall keep a large cash transaction record in respect of every amount of $10,000 or more in cash that they receive from a person or entity in a single transaction, unless
▾ 2 subsections
- (a)
  
  the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body; or
- (b)
  
  the transaction
  
  ▾ 4 paragraphs
  
  (i)
  
  involves the sale of an immediate or deferred annuity that is paid for entirely with funds that are directly transferred from a registered pension plan or from a pension plan that is required to be registered under the Pension Benefits Standards Act, 1985, or similar provincial legislation,
  
  (ii)
  
  involves the sale of a registered annuity policy or a registered retirement income fund,
  
  (iii)
  
  involves the sale of an immediate or deferred annuity that is paid for entirely with the proceeds of a group life insurance policy, or
  
  (iv)
  
  is part of a reverse mortgage or structured settlement.
s. 20.1

[Repealed, SOR/2019-240, s. 28]
s. 20.2

[Repealed, SOR/2019-240, s. 28]
s. 21

A life insurance company or life insurance broker or agent shall keep a large virtual currency transaction record in respect of every amount of $10,000 or more in virtual currency that they receive from a person or entity in a single transaction, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 22
▾ 4 subsections
- (1)
  
  A life insurance company or life insurance broker or agent shall, regardless of the means of payment, keep an information record in connection with the sale of an immediate or deferred annuity or a life insurance policy
  
  ▾ 2 paragraphs
  
  (a)
  
  for which they are to receive an amount of $10,000 or more over the duration of the annuity or policy; or
  
  (b)
  
  under which they are to remit an amount of $10,000 or more to a beneficiary over the duration of the annuity or policy.
- (2)
  
  The information record
  
  ▾ 2 paragraphs
  
  (a)
  
  in connection with the sale referred to in paragraph (1)(a) shall be created when the life insurance company or life insurance broker or agent establishes the annuity or policy and shall be kept, subject to subsection (3), in respect of the annuitant or policy holder; and
  
  (b)
  
  in connection with the sale referred to in paragraph (1)(b) shall be created before the life insurance company or life insurance broker or agent first remits funds or virtual currency to the beneficiary under the annuity or policy and shall be kept in respect of the beneficiary.
- (3)
  
  In the case of a life insurance policy that is a group life insurance policy or in the case of a group annuity, the information record shall be kept in respect of the applicant for the policy or annuity.
- (4)
  
  Paragraph (2)(b) does not apply if the life insurance company or life insurance broker or agent, due to facts or circumstances beyond its control, is unable to create the information record within the time period in which they are required, under federal or provincial legislation, to first remit funds or virtual currency to the beneficiary.
s. 23

A life insurance company or life insurance broker or agent that keeps an information record under section 22 in respect of a corporation shall also keep a copy of the part of the official corporate records that contains any provision relating to the power to bind the corporation in respect of transactions with the life insurance company or life insurance broker or agent.
s. 24

Sections 18 to 23 do not apply to a life insurance company or life insurance broker or agent when they are dealing in reinsurance.

Factors ▾

s. 24.1

A factor is engaged in a business or profession for the purposes of paragraph 5(i) of the Act.
s. 24.11
▾ 2 subsections
- (1)
  
  A factor shall report the following transactions and information to the Centre:
  
  ▾ 2 paragraphs
  
  (a)
  
  the receipt from a person or entity of an amount of $10,000 or more in cash in a single transaction, together with the information set out in Schedule 1; and
  
  (b)
  
  the receipt from a person or entity of an amount of $10,000 or more in virtual currency in a single transaction, together with the information set out in Schedule 4.
- (2)
  
  A factor is not required to report the transaction and information under paragraph (1)(a) if the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 24.12

A factor shall keep a large cash transaction record in respect of every amount of $10,000 or more in cash that it receives from a person or entity in a single transaction, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 24.13

A factor shall keep a large virtual currency transaction record in respect of every amount of $10,000 or more in virtual currency that it receives from a person or entity in a single transaction, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 24.14
A factor shall keep the following records in respect of every factoring agreement that it enters into:
▾ 6 subsections
- (a)
  
  an information record in respect of the person or entity with whom it enters into the agreement;
- (b)
  
  if the information record is in respect of an entity, a record of the name, address and date of birth of every person who enters into the agreement on behalf of the entity and the nature of the person’s principal business or their occupation;
- (c)
  
  if the information record is in respect of a corporation, a copy of the part of official corporate records that contains any provision relating to the power to bind the corporation in respect of transactions with the factor;
- (d)
  
  a record of the financial capacity of the person or entity with which it enters into the agreement and the terms of the agreement;
- (e)
  
  for any payment it makes, a record of
  
  ▾ 6 paragraphs
  
  (i)
  
  the date of the payment,
  
  (ii)
  
  if the payment is in funds, the type and amount of each type of funds involved,
  
  (iii)
  
  if the payment is not in funds, the type of payment and its value,
  
  (iv)
  
  the method by which the payment is made,
  
  (v)
  
  the name of every person or entity involved in the payment, and
  
  (vi)
  
  every account number or other equivalent reference number connected to the payment; and
- (f)
  
  a receipt of funds record in respect of every amount of $3,000 or more that it receives, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.

Financing or Leasing Entities ▾

s. 24.15
A financing or leasing entity is engaged in a business or profession for the purposes of paragraph 5(j) of the Act when it is financing or leasing
▾ 3 subsections
- (a)
  
  property, other than real property or immovables, for business purposes;
- (b)
  
  passenger vehicles in Canada; or
- (c)
  
  property, other than real property or immovables, that is valued at $100,000 or more.
s. 24.16

A financing or leasing entity that receives an amount of $10,000 or more in cash in a single transaction in connection with an activity referred to in section 24.15 shall report the transaction to the Centre, together with the information set out in Schedule 1, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 24.17

A financing or leasing entity that receives an amount of $10,000 or more in virtual currency in a single transaction in connection with an activity referred to in section 24.15 shall report the transaction to the Centre, together with the information set out in Schedule 4.
s. 24.18

A financing or leasing entity shall keep a large cash transaction record in respect of every amount of $10,000 or more in cash that it receives in a single transaction in connection with an activity referred to in section 24.15, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 24.19

A financing or leasing entity shall keep a large virtual currency transaction record in respect of every amount of $10,000 or more in virtual currency that it receives in a single transaction in connection with an activity referred to in section 24.15, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 24.2
A financing or leasing entity shall keep the following records in connection with an activity referred to in section 24.15 in respect of every financing or leasing arrangement that it enters into:
▾ 5 subsections
- (a)
  
  an information record in respect of the person or entity with which it enters into the arrangement;
- (b)
  
  if the information record is in respect of an entity, a record of the name, address and date of birth of every person who enters into the arrangement on behalf of the entity and the nature of the person’s principal business or their occupation;
- (c)
  
  if the information record is in respect of a corporation, a copy of the part of official corporate records that contains any provision relating to the power to bind the corporation in respect of transactions with the financial or leasing entity;
- (d)
  
  a record of the financial capacity of the person or entity with which it enters into the arrangement and the terms of the arrangement; and
- (e)
  
  in respect of every payment that it receives under the arrangement, other than a payment received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body, a record of
  
  ▾ 4 paragraphs
  
  (i)
  
  the date of the payment,
  
  (ii)
  
  the name of the person or entity that makes the payment,
  
  (iii)
  
  the amount of the payment and of any part of it that is made in cash, and
  
  (iv)
  
  the method by which the payment is made.

Securities Dealers ▾

s. 25

A securities dealer that receives an amount of $10,000 or more in cash from a person or entity in a single transaction shall report the transaction to the Centre, together with the information set out in Schedule 1, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 26

A securities dealer that receives an amount of $10,000 or more in virtual currency from a person or entity in a single transaction shall report the transaction to the Centre, together with the information set out in Schedule 4.
s. 27

A securities dealer shall keep a large cash transaction record in respect of every amount of $10,000 or more in cash that they receive from a person or entity in a single transaction, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 28

A securities dealer shall keep a large virtual currency transaction record in respect of every amount of $10,000 or more in virtual currency that they receive from a person or entity in a single transaction, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 29
A securities dealer shall keep the following records in respect of every account that they open:
▾ 8 subsections
- (a)
  
  every signature card;
- (b)
  
  a record for each account holder and every other person — up to three, in the case of a business account — who is authorized to give instructions in respect of the account, containing their name and address, the nature of their principal business or their occupation and, in the case of a person, their date of birth;
- (c)
  
  if an account holder is a corporation, a copy of the part of its official corporate records that contains any provision relating to the power to bind the corporation in respect of the account;
- (d)
  
  a record that sets out the intended use of the account;
- (e)
  
  a record of every application in respect of the account;
- (f)
  
  every account operating agreement that they create or receive in respect of the account;
- (g)
  
  every confirmation of purchase or sale, guarantee, trade authorization, power of attorney and joint account agreement and all correspondence that pertains to the operation of the account; and
- (h)
  
  a copy of every account statement that they send to an account holder.

Money Services Businesses and Foreign Money Services Businesses ▾

s. 29.1

For the purposes of subparagraphs 5(h)(v) and (h.1)(v) of the Act, crowdfunding platform services and cheque-cashing services are prescribed services.
s. 30
▾ 2 subsections
- (1)
  
  A money services business shall report the following transactions and information to the Centre:
  
  ▾ 6 paragraphs
  
  (a)
  
  the receipt from a person or entity of an amount of $10,000 or more in cash in a single transaction, together with the information set out in Schedule 1;
  
  (b)
  
  the initiation, at the request of a person or entity, of an international electronic funds transfer of $10,000 or more in a single transaction, together with the information set out in Schedule 2;
  
  (c)
  
  the final receipt of an international electronic funds transfer of $10,000 or more in a single transaction, together with the information set out in Schedule 3;
  
  (d)
  
  the initiation, at the request of a person or entity, of an international electronic funds transfer of $10,000 or more in a single transaction, together with the information set out in Schedule 2, if the money services business also finally receives or is to finally receive the electronic funds transfer;
  
  (e)
  
  the final receipt of an international electronic funds transfer of $10,000 or more in a single transaction, together with the information set out in Schedule 3, if the money services business also initiated the electronic funds transfer; and
  
  (f)
  
  the receipt from a person or entity of an amount of $10,000 or more in virtual currency in a single transaction, together with the information set out in Schedule 4.
- (2)
  
  A money services business is not required to report the transaction and information under paragraph (1)(a) if the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 31

A money services business shall keep a large cash transaction record in respect of every amount of $10,000 or more in cash that they receive from a person or entity in a single transaction, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 32

A money services business shall keep a large virtual currency transaction record in respect of every amount of $10,000 or more in virtual currency that they receive from a person or entity in a single transaction, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 32.1
A money services business is not required to report the transaction or information referred to in paragraph 30(1)(a) or (f) or to keep the record referred to in section 31 or 32 if the cash or virtual currency is received only for the purpose of transport
▾ 3 subsections
- (a)
  
  to or from a person or entity referred to in section 5 of the Act, if the transport is carried out at the request of such a person or entity and the cash or virtual currency is of an amount that is not declared to the money services business and that they cannot readily determine;
- (b)
  
  between the Bank of Canada and a person or entity in Canada; or
- (c)
  
  between two places of business of the same person or entity, if that person or entity is referred to in section 5 of the Act and the transport is carried out at their request.
s. 33
▾ 2 subsections
- (1)
  
  A foreign money services business shall report the following transactions and information to the Centre:
  
  ▾ 6 paragraphs
  
  (a)
  
  the receipt from a person or entity in Canada of an amount of $10,000 or more in cash in a single transaction, together with the information set out in Schedule 1;
  
  (b)
  
  the initiation, at the request of a person or entity in Canada, of an electronic funds transfer of $10,000 or more in a single transaction, together with the information set out in Schedule 2, if the electronic funds transfer is sent or is to be sent from one country to another;
  
  (c)
  
  the final receipt of an electronic funds transfer of $10,000 or more in a single transaction, together with the information set out in Schedule 3, if the electronic funds transfer was sent from one country to another and the beneficiary is in Canada;
  
  (d)
  
  the initiation, at the request of a person or entity in Canada, of an international electronic funds transfer of $10,000 or more in a single transaction, together with the information set out in Schedule 2, if the foreign money services business also finally receives or is to finally receive the electronic funds transfer;
  
  (e)
  
  the final receipt of an international electronic funds transfer of $10,000 or more in a single transaction, together with the information set out in Schedule 3, if the foreign money services business also initiated the electronic funds transfer and the beneficiary is in Canada; and
  
  (f)
  
  the receipt from a person or entity in Canada of an amount of $10,000 or more in virtual currency in a single transaction, together with the information set out in Schedule 4.
- (2)
  
  A foreign money services business is not required to report the transaction and information under paragraph (1)(a) if the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 33.1

[Repealed, SOR/2019-240, s. 28]
s. 33.2

[Repealed, SOR/2019-240, s. 28]
s. 34

A foreign money services business shall keep a large cash transaction record in respect of every amount of $10,000 or more in cash that they receive from a person or entity in Canada in a single transaction, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 35

A foreign money services business shall keep a large virtual currency transaction record in respect of every amount of $10,000 or more in virtual currency that they receive from a person or entity in Canada in a single transaction, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 35.1
A foreign money services business is not required to report the transaction or information referred to in paragraph 33(1)(a) or (f) or to keep the record referred to in section 34 or 35 if the cash or virtual currency is received only for the purpose of transport
▾ 3 subsections
- (a)
  
  to or from a person or entity referred to in section 5 of the Act, if the transport is carried out at the request of such a person or entity and the cash or virtual currency is of an amount that is not declared to the foreign money services business and that they cannot readily determine;
- (b)
  
  between the Bank of Canada and a person or entity in Canada; or
- (c)
  
  between two places of business of the same person or entity, if that person or entity is referred to in section 5 of the Act and the transport is carried out at their request.
s. 36
A money services business shall keep the following records in connection with a service referred to in any of subparagraphs 5(h)(i) to (v) of the Act that they provide, and a foreign money services business shall keep the following records in connection with a service referred to in any of subparagraphs 5(h.1)(i) to (v) of the Act that they provide to persons or entities in Canada:
▾ 17 subsections
- (a)
  
  every internal memorandum that they create or receive that concerns the service;
- (b)
  
  if they receive an amount of $3,000 or more from a person or entity — other than a financial entity or a person who is acting on behalf of a client that is a financial entity — as consideration for the issuance of traveller’s cheques, money orders or similar negotiable instruments, a record
  
  ▾ 7 paragraphs
  
  (i)
  
  of the date of the receipt,
  
  (ii)
  
  of the person’s or entity’s name and address, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iii)
  
  of the amount received,
  
  (iv)
  
  indicating whether the amount received is in funds or virtual currency and the type and amount of each type of funds and each of the virtual currencies involved,
  
  (v)
  
  of the number of every account that is affected by the transaction, the type of account and the name of each account holder,
  
  (vi)
  
  of every reference number that is connected to the transaction and has a function equivalent to that of an account number, and
  
  (vii)
  
  if the amount received is in virtual currency, of every transaction identifier, including the sending and receiving addresses;
- (b.1)
  
  if they cash one or more cheques that total $3,000 or more at the request of a person or entity, a record of
  
  ▾ 7 paragraphs
  
  (i)
  
  the date when each cheque is cashed,
  
  (ii)
  
  the person’s or entity’s name and address, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iii)
  
  the total amount of the cheque or cheques,
  
  (iv)
  
  the name of the issuer of each cheque,
  
  (v)
  
  the number of every account that is affected by the cashing of the cheque or cheques, the type of account and the name of each account holder,
  
  (vi)
  
  every reference number that is connected to the cashing of the cheque or cheques and that has a function equivalent to that of an account number, and
  
  (vii)
  
  if the cashing of the cheque or cheques involves virtual currency, every transaction identifier, including the sending and receiving addresses;
- (c)
  
  if they redeem one or more money orders that total $3,000 or more at the request of a person or entity, a record of
  
  ▾ 7 paragraphs
  
  (i)
  
  the date of the redemption,
  
  (ii)
  
  the person’s or entity’s name and address, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iii)
  
  the total amount of the money order or orders,
  
  (iv)
  
  the name of the issuer of each money order,
  
  (v)
  
  the number of every account that is affected by the redemption, the type of account and the name of each account holder,
  
  (vi)
  
  every reference number that is connected to the redemption and has a function equivalent to that of an account number, and
  
  (vii)
  
  if the redemption involves virtual currency, every transaction identifier, including the sending and receiving addresses;
- (c.1)
  
  if they transmit an amount of $1,000 or more in funds at the request of a person or entity, other than in the case of an electronic funds transfer, a record of
  
  ▾ 7 paragraphs
  
  (i)
  
  the date of the transmission,
  
  (ii)
  
  the type and amount of each type of funds that is involved in the transmission,
  
  (iii)
  
  the person’s or entity’s name, address and telephone number, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the exchange rates used and their source,
  
  (v)
  
  the name and address of each beneficiary,
  
  (vi)
  
  the number of every account that is affected by the transaction, and
  
  (vii)
  
  every reference number that is connected to the transaction and has a function equivalent to that of an account number;
- (c.2)
  
  if they remit an amount of $1,000 or more in funds to a beneficiary at the request of a person or entity, other than in the case of an electronic funds transfer, a record of
  
  ▾ 7 paragraphs
  
  (i)
  
  the date of the remittance,
  
  (ii)
  
  the type and amount of each type of funds that is involved in the remittance,
  
  (iii)
  
  the name of the person or entity who requested the remittance,
  
  (iv)
  
  the name, address and telephone number of each beneficiary, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (v)
  
  the exchange rates used for the remittance and their source,
  
  (vi)
  
  the number of every account that is affected by the transaction, and
  
  (vii)
  
  every reference number that is connected to the transaction and has a function equivalent to that of an account number;
- (d)
  
  if they initiate an electronic funds transfer of $1,000 or more at the request of a person or entity, a record of
  
  ▾ 8 paragraphs
  
  (i)
  
  the date on which the electronic funds transfer is initiated,
  
  (ii)
  
  the type and amount of each type of funds that is involved in the initiation,
  
  (iii)
  
  the person’s or entity’s name, address and telephone number, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the exchange rates used and their source,
  
  (v)
  
  the name and address of each beneficiary,
  
  (vi)
  
  the number of every account that is affected by the initiation, the type of account and the name of each account holder,
  
  (vii)
  
  every reference number that is connected to the electronic funds transfer and has a function equivalent to that of an account number, and
  
  (viii)
  
  the number of every account that is affected by the electronic funds transfer, other than those referred to in subparagraph (vi);
- (e)
  
  if they send an international electronic funds transfer of $1,000 or more that was initiated by another person or entity, a record of
  
  ▾ 7 paragraphs
  
  (i)
  
  the date on which the electronic funds transfer is sent,
  
  (ii)
  
  if they exchange fiat currencies in the course of sending the electronic funds transfer, the type and amount of each fiat currency that is involved in the exchange,
  
  (iii)
  
  the exchange rates used and their source,
  
  (iv)
  
  the number of every account that is affected by the sending, the type of account and the name of each account holder,
  
  (v)
  
  every reference number that is connected to the sending and has a function equivalent to that of an account number,
  
  (vi)
  
  the name and address of the person or entity that requested the initiation of the electronic funds transfer, unless that information was not, despite the taking of reasonable measures, included with the transfer and is not otherwise known, and
  
  (vii)
  
  the name and address of each beneficiary, unless that information was not, despite the taking of reasonable measures, included with the transfer and is not otherwise known;
- (f)
  
  if they are the final recipient of an international electronic funds transfer of $1,000 or more, a record of
  
  ▾ 11 paragraphs
  
  (i)
  
  the date on which the electronic funds transfer is finally received,
  
  (ii)
  
  the type and amount of each type of funds that is involved in the final receipt,
  
  (iii)
  
  the name, address and telephone number of each beneficiary, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the date of the remittance,
  
  (v)
  
  the exchange rates used for the remittance and their source,
  
  (vi)
  
  if the remittance is in funds, the type and amount of each type of funds involved,
  
  (vii)
  
  if the remittance is not in funds, the type of remittance and its value, if different from the amount of funds finally received,
  
  (viii)
  
  the number of every account that is affected by the final receipt or the remittance, the type of account and the name of each account holder,
  
  (ix)
  
  every reference number that is connected to the electronic funds transfer and has a function equivalent to that of an account number,
  
  (x)
  
  the name and address of the person or entity that requested the initiation of the electronic funds transfer, unless that information was not, despite the taking of reasonable measures, included with the transfer and is not otherwise known,
  
  (xi)
  
  the number of every account that is affected by the electronic funds transfer, other than those referred to in subparagraph (viii);
- (f.1)
  
  subject to paragraphs (f.2) and (f.3), if, at the request of a person or entity, they transport $1,000 or more in cash or virtual currency within the meaning of paragraph (b) of the definition of that term in subsection 1(2) or $3,000 or more in money orders, traveller’s cheques or other similar negotiable instruments, a record of
  
  ▾ 7 paragraphs
  
  (i)
  
  the date and location of collection and delivery,
  
  (ii)
  
  the type and amount of cash, virtual currency or negotiable instruments transported,
  
  (iii)
  
  the name and address of the person or entity that made the request, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the name and address, if known, of each beneficiary,
  
  (v)
  
  the number of every account that is affected by the transport, the type of account and the name of each account holder,
  
  (vi)
  
  every reference number that is connected to the transport and has a function equivalent to that of an account number, and
  
  (vii)
  
  the method of remittance;
- (f.2)
  
  subject to paragraph (f.3), if, at the request of a person or entity, they transport cash, virtual currency within the meaning of paragraph (b) of the definition of that term in subsection 1(2) or money orders, traveller’s cheques or other similar negotiable instruments in an amount that has not been declared and that they cannot readily determine, a record of
  
  ▾ 8 paragraphs
  
  (i)
  
  the date and location of collection and delivery,
  
  (ii)
  
  the type, if known, of cash, virtual currency or negotiable instruments transported,
  
  (iii)
  
  the name, address and telephone number of the person or entity that made the request, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the name and address, if known, of each beneficiary,
  
  (v)
  
  the number of every account that is affected by the transport, the type of account and the name of each account holder,
  
  (vi)
  
  every reference number that is connected to the transport and has a function equivalent to that of an account number,
  
  (vii)
  
  the reason why the amount was not declared, and
  
  (viii)
  
  the method of remittance;
- (f.3)
  
  if, at the request of an entity referred to in paragraph 5(a) or (b) of the Act, they transport cash, virtual currency within the meaning of paragraph (b) of the definition of that term in subsection 1(2) or money orders, traveller’s cheques or other similar negotiable instruments, a record of
  
  ▾ 3 paragraphs
  
  (i)
  
  the date and location of collection and delivery,
  
  (ii)
  
  the type and amount, if known, of cash, virtual currency or negotiable instruments transported, and
  
  (iii)
  
  the name, address and telephone number of the entity that made the request;
- (g)
  
  if they transfer an amount of $1,000 or more in virtual currency at the request of a person or entity, a record of
  
  ▾ 8 paragraphs
  
  (i)
  
  the date of the transfer,
  
  (ii)
  
  the type and amount of each virtual currency that is involved in the transfer,
  
  (iii)
  
  the person’s or entity’s name and address, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the name and address of each beneficiary,
  
  (v)
  
  the number of every account that is affected by the transaction, the type of account and the name of each account holder, and
  
  (vi)
  
  every reference number that is connected to the transaction and has a function equivalent to that of an account number,
  
  (vii)
  
  every transaction identifier, including the sending and receiving addresses, and
  
  (viii)
  
  the exchange rates used and their source;
- (h)
  
  if they receive an amount of $1,000 or more in virtual currency for remittance to a beneficiary, a record of
  
  ▾ 11 paragraphs
  
  (i)
  
  the date of the receipt,
  
  (ii)
  
  the type and amount of each virtual currency that is received,
  
  (iii)
  
  the name, address of each beneficiary, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the date of the remittance,
  
  (v)
  
  the exchange rates used for the remittance and their source,
  
  (vi)
  
  if the remittance is in virtual currency, the type and amount of each virtual currency involved,
  
  (vii)
  
  if the remittance is not in virtual currency, the type of remittance and its value, if different from the amount of virtual currency received,
  
  (viii)
  
  the number of every account that is affected by the transaction, the type of account and the name of each account holder,
  
  (ix)
  
  every reference number that is connected to the transaction and has a function equivalent to that of an account number,
  
  (x)
  
  every transaction identifier, including the sending and receiving addresses, and
  
  (xi)
  
  the name and address of the person or entity that requested the transfer unless that information was not, despite the taking of reasonable measures, included with the transfer and is not otherwise known;
- (i)
  
  a foreign currency exchange transaction ticket in respect of every foreign currency exchange transaction;
- (j)
  
  a virtual currency exchange transaction ticket in respect of every virtual currency exchange transaction; and
- (k)
  
  if they provide acquirer services in respect of a private automated banking machine, a record of
  
  ▾ 10 paragraphs
  
  (i)
  
  the name, address, email address and telephone number of the owner, the lessor and the operator of the private automated banking machine, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (ii)
  
  the name, address, email address and telephone number of the owner of the cash that is loaded into the private automated banking machine, as well as
  
  ▾ 2 subparagraphs
  
  (A)
  
  in the case of a person, their date of birth and the nature of their principal business or their occupation, and
  
  (B)
  
  in the case of an entity, its registration or incorporation number, the jurisdiction and country of issue of that number and the nature of its principal business,
  
  (iii)
  
  the number of the settlement account for the private automated banking machine and the name and address of each account holder, as well as
  
  ▾ 2 subparagraphs
  
  (A)
  
  in the case of a person, their date of birth and the nature of their principal business or their occupation, and
  
  (B)
  
  in the case of an entity, its registration or incorporation number, the jurisdiction and country of issue of that number and the nature of its principal business,
  
  (iv)
  
  the terminal identification number of the private automated banking machine,
  
  (v)
  
  the brand, model and serial number of the private automated banking machine,
  
  (vi)
  
  the number of bills that the private automated banking machine can contain,
  
  (vii)
  
  the name and address of the place of business at which the private automated banking machine is located and the nature of the principal business of the place of business,
  
  (viii)
  
  an indication of the business relationship between the owner of the cash, the owner, the lessor and the operator of the private automated banking machine and the owner of the place of business at which the machine is located,
  
  (ix)
  
  the source of the cash that is loaded into the private automated banking machine, and
  
  (x)
  
  the method used to transport the cash.
s. 36.1
A money services business, in connection with crowdfunding platform services that they provide, and a foreign money services business, in connection with crowdfunding platform services that they provide to persons or entities in Canada, shall
▾ 3 subsections
- (a)
  
  keep an information record in respect of the person or entity to which they provide those services;
- (b)
  
  keep a record of the purpose for which the funds or virtual currency are being raised; and
- (c)
  
  if the person or entity for which the funds or virtual currency are being raised is different from the person or entity referred to in paragraph (a),
  
  ▾ 2 paragraphs
  
  (i)
  
  keep a record of their name, and
  
  (ii)
  
  take reasonable measures to obtain their address, the nature of their principal business or their occupation and, in the case of a person, their date of birth, and keep a record of the information obtained.
s. 37
A money services business that enters into an agreement with an entity to provide a service referred to in any of subparagraphs 5(h)(i) to (v) of the Act to that entity — and a foreign money services business that enters into an agreement with an entity in Canada to provide a service referred to in any of subparagraphs 5(h.1)(i) to (v) of the Act to that entity — shall keep
▾ 4 subsections
- (a)
  
  a record of the name, address and date of birth of every person who signs the agreement on behalf of the entity and the nature of the person’s principal business or their occupation;
- (b)
  
  an information record in respect of the entity;
- (c)
  
  if the entity is a corporation, a copy of the part of its official corporate records that contains any provision relating to the power to bind the corporation in respect of transactions with the money services business or foreign money services business; and
- (d)
  
  a list containing the name, address and date of birth of every employee of the entity who is authorized to order a transaction under the agreement.
s. 37.1
▾ 2 subsections
- (1)
  
  The documents referred to in subsection 9.93(2) of the Act must be issued no more than six months before the day on which they are reviewed under subsection 9.93(1) of the Act.
- (2)
  
  For the purposes of subsection 9.93(4) of the Act, a money services business must retain the documents that it obtains under subsection 9.93(1) of the Act for a period of five years after the day on which the records are obtained.

British Columbia Notaries Public and British Columbia Notary Corporations ▾

s. 38
▾ 2 subsections
- (1)
  
  A British Columbia notary public or British Columbia notary corporation is engaged in a business or profession for the purposes of paragraph 5(j) of the Act when, on behalf of a person or entity, they
  
  ▾ 4 paragraphs
  
  (a)
  
  receive or pay funds or virtual currency, other than in respect of professional fees, disbursements, expenses or bail;
  
  (b)
  
  purchase or sell securities, real property or immovables or business assets or entities;
  
  (c)
  
  transfer funds, virtual currency or securities by any means; or
  
  (d)
  
  give instructions in connection with an activity referred to in any of paragraphs (a) to (c).
- (2)
  
  Subsection (1) does not apply to a British Columbia notary public who is acting in the capacity of an employee.
s. 39

A British Columbia notary public or British Columbia notary corporation that receives an amount of $10,000 or more in cash in a single transaction in connection with an activity referred to in section 38 shall report the transaction to the Centre, together with the information set out in Schedule 1, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 40

A British Columbia notary public or British Columbia notary corporation that receives an amount of $10,000 or more in virtual currency in a single transaction in connection with an activity referred to in section 38 shall report the transaction to the Centre, together with the information set out in Schedule 4.
s. 41

A British Columbia notary public or British Columbia notary corporation shall keep a large cash transaction record in respect of every amount of $10,000 or more in cash that they receive in a single transaction in connection with an activity referred to in section 38, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 42

A British Columbia notary public or British Columbia notary corporation shall keep a large virtual currency transaction record in respect of every amount of $10,000 or more in virtual currency that they receive in a single transaction in connection with an activity referred to in section 38, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 43
A British Columbia notary public or British Columbia notary corporation shall keep the following records in connection with an activity referred to in section 38:
▾ 2 subsections
- (a)
  
  a receipt of funds record in respect of every amount of $3,000 or more that they receive, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body; and
- (b)
  
  if the receipt of funds record is in respect of a corporation, a copy of the part of official corporate records that contains any provision relating to the power to bind the corporation in respect of transactions with the British Columbia notary public or British Columbia notary corporation.

Legal Counsel and Legal Firms ▾

s. 44
▾ 2 subsections
- (1)
  
  Subject to subsection (2), every legal counsel and every legal firm is subject to Part 1 of the Act when they engage in any of the following activities on behalf of any person or entity:
  
  ▾ 2 paragraphs
  
  (a)
  
  receiving or paying funds, other than those received or paid in respect of professional fees, disbursements, expenses or bail; or
  
  (b)
  
  giving instructions in respect of any activity referred to in paragraph (a).
- (2)
  
  Subsection (1) does not apply in respect of legal counsel when they engage in any of the activities referred to in that subsection on behalf of their employer.
s. 45
Subject to subsection 62(2), every legal counsel and every legal firm shall, when engaging in an activity described in section 33.3, keep the following records:
▾ 2 subsections
- (a)
  
  a receipt of funds record in respect of every amount of $3,000 or more that they receive in the course of a single transaction, unless the amount is received from a financial entity or a public body; and
- (b)
  
  where the receipt of funds record is in respect of a client that is a corporation, a copy of the part of official corporate records that contains any provision relating to the power to bind the corporation in respect of transactions with the legal counsel or legal firm.
s. 46
A legal counsel or legal firm that, in connection with a transaction, receives funds from the trust account of a legal firm or from the trust account of a legal counsel who is not acting on behalf of their employer,
▾ 2 subsections
- (a)
  
  must keep and retain a record of that fact; and
- (b)
  
  is not required to include in the receipt of funds record that is kept in respect of those funds
  
  ▾ 2 paragraphs
  
  (i)
  
  the number and type of any account that is affected by the transaction, or
  
  (ii)
  
  the full name of the person or entity that is the holder of that account.

Accountants and Accounting Firms ▾

s. 47
▾ 3 subsections
- (1)
  
  An accountant or accounting firm is engaged in a business or profession for the purposes of paragraph 5(j) of the Act when, on behalf of a person or entity, they
  
  ▾ 4 paragraphs
  
  (a)
  
  receive or pay funds or virtual currency;
  
  (b)
  
  purchase or sell securities, real property or immovables or business assets or entities;
  
  (c)
  
  transfer funds, virtual currency or securities by any means; or
  
  (d)
  
  give instructions in connection with an activity referred to in any of paragraphs (a) to (c).
- (2)
  
  For greater certainty, the activities in subsection (1) do not include activities that are carried out in the course of an audit, a review or a compilation engagement within the meaning of the CPA Canada Handbook prepared and published by the Chartered Professional Accountants of Canada, as amended from time to time.
- (3)
  
  Subsection (1) does not apply to an accountant who is acting in the capacity of an employee or of a person who either is authorized by law to carry on the business of — or to monitor the business or financial affairs of — an insolvent or bankrupt person or entity or is authorized to act under a security agreement.
s. 48

An accountant or accounting firm that receives an amount of $10,000 or more in cash in a single transaction in connection with an activity referred to in section 47 shall report the transaction to the Centre, together with the information set out in Schedule 1, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 49

An accountant or accounting firm that receives an amount of $10,000 or more in virtual currency in a single transaction in connection with an activity referred to in section 47 shall report the transaction to the Centre, together with the information set out in Schedule 4.
s. 50

An accountant or accounting firm shall keep a large cash transaction record in respect of every amount of $10,000 or more in cash that they receive in a single transaction in connection with an activity referred to in section 47, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 51

An accountant or accounting firm shall keep a large virtual currency transaction record in respect of every amount of $10,000 or more in virtual currency that they receive in a single transaction in connection with an activity referred to in section 47, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 52
An accountant or accounting firm shall keep the following records in connection with an activity referred to in section 47:
▾ 2 subsections
- (a)
  
  a receipt of funds record in respect of every amount of $3,000 or more that they receive, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body; and
- (b)
  
  if the receipt of funds record is in respect of a corporation, a copy of the part of official corporate records that contains any provision relating to the power to bind the corporation in respect of transactions with the accountant or accounting firm.
s. 52.1

[Repealed, SOR/2019-240, s. 36]

Real Estate Brokers or Sales Representatives ▾

s. 53

A real estate broker or sales representative is engaged in a business or profession for the purposes of paragraph 5(j) of the Act when they act as an agent or mandatary for a purchaser or vendor in respect of the purchase or sale of real property or immovables.
s. 53.1

[Repealed, SOR/2019-240, s. 36]
s. 53.2

[Repealed, SOR/2019-240, s. 36]
s. 54

A real estate broker or sales representative that receives an amount of $10,000 or more in cash in a single transaction in connection with an activity referred to in section 53 shall report the transaction to the Centre, together with the information set out in Schedule 1, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 54.1

[Repealed, SOR/2019-240, s. 36]
s. 54.2

[Repealed, SOR/2019-240, s. 36]
s. 54.3

[Repealed, SOR/2019-240, s. 36]
s. 54.4

[Repealed, SOR/2019-240, s. 36]
s. 55

A real estate broker or sales representative that receives an amount of $10,000 or more in virtual currency in a single transaction in connection with an activity referred to in section 53 shall report the transaction to the Centre, together with the information set out in Schedule 4.
s. 55.1

[Repealed, SOR/2019-240, s. 36]
s. 55.2

[Repealed, SOR/2019-240, s. 36]
s. 56

A real estate broker or sales representative shall keep a large cash transaction record in respect of every amount of $10,000 or more in cash that they receive in a single transaction in connection with an activity referred to in section 53, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 56.1

[Repealed, SOR/2019-240, s. 36]
s. 56.2

[Repealed, SOR/2019-240, s. 36]
s. 56.3

[Repealed, SOR/2019-240, s. 36]
s. 56.4

[Repealed, SOR/2019-240, s. 36]
s. 57

A real estate broker or sales representative shall keep a large virtual currency transaction record in respect of every amount of $10,000 or more in virtual currency that they receive in a single transaction in connection with an activity referred to in section 53, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 57.1

[Repealed, SOR/2019-240, s. 36]
s. 57.2

[Repealed, SOR/2019-240, s. 36]
s. 57.3

[Repealed, SOR/2019-240, s. 36]
s. 58
▾ 4 subsections
- (1)
  
  A real estate broker or sales representative shall keep the following records in connection with an activity referred to in section 53:
  
  ▾ 3 paragraphs
  
  (a)
  
  a receipt of funds record in respect of every amount that they receive, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body;
  
  (b)
  
  an information record in respect of every person or entity for which they act as an agent or mandatary in respect of the purchase or sale of real property or immovables and any party to the purchase or sale that is not represented by a real estate broker or sales representative; and
  
  (c)
  
  if the receipt of funds record or information record is in respect of a corporation, a copy of the part of official corporate records that contains any provision relating to the power to bind the corporation in respect of transactions with the real estate broker or sales representative.
- (2)
  
  If two or more of the parties to a transaction are represented by a real estate broker or sales representative and one of those real estate brokers or sales representatives receives funds in respect of the transaction from a party that is represented by another real estate broker or sales representative, the real estate broker or sales representative that represents the party from which the funds are received is responsible for keeping the receipt of funds record referred to in paragraph (1)(a) and, if applicable, the copy referred to in paragraph (1)(c).
- (3)
  
  A real estate broker or sales representative that is responsible under subsection (2) for keeping a receipt of funds record is not required to include in that record any of the following information if, after taking reasonable measures to do so, they are unable to obtain it:
  
  ▾ 3 paragraphs
  
  (a)
  
  the number and type of an account that is affected by the transaction referred to in subsection (2);
  
  (b)
  
  the name of a holder of the account;
  
  (c)
  
  a reference number that is connected to the transaction.
- (4)
  
  A real estate broker or sales representative that is responsible under subsection (2) for keeping a receipt of funds record and that determines that the transaction affects a trust account held by another real estate broker or sales representative shall include that information in the record but is not required to include
  
  ▾ 2 paragraphs
  
  (a)
  
  the number of the trust account; or
  
  (b)
  
  the name of the holder or holders of the trust account.

Real Estate Developers ▾

s. 59

A real estate developer is engaged in a business or profession for the purposes of paragraph 5(j) of the Act when they sell a new house, new condominium unit, new commercial or industrial building or new multi-unit residential building to the public, including, if they are a corporation, when they do so on behalf of a subsidiary or affiliate.
s. 59.01

[Repealed, SOR/2019-240, s. 36]
s. 59.02

[Repealed, SOR/2019-240, s. 36]
s. 59.1

[Repealed, SOR/2019-240, s. 36]
s. 59.11

[Repealed, SOR/2019-240, s. 36]
s. 59.12

[Repealed, SOR/2019-240, s. 36]
s. 59.2

[Repealed, SOR/2019-240, s. 36]
s. 59.21

[Repealed, SOR/2019-240, s. 36]
s. 59.22

[Repealed, SOR/2019-240, s. 36]
s. 59.3

[Repealed, SOR/2019-240, s. 36]
s. 59.31

[Repealed, SOR/2019-240, s. 36]
s. 59.32

[Repealed, SOR/2019-240, s. 36]
s. 60

A real estate developer that receives an amount of $10,000 or more in cash in a single transaction in connection with an activity referred to in section 59 shall report the transaction to the Centre, together with the information set out in Schedule 1, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 61

A real estate developer that receives an amount of $10,000 or more in virtual currency in a single transaction in connection with an activity referred to in section 59 shall report the transaction to the Centre, together with the information set out in Schedule 4.
s. 62

A real estate developer shall keep a large cash transaction record in respect of every amount of $10,000 or more in cash that they receive in a single transaction in connection with an activity referred to in section 59, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 63

A real estate developer shall keep a large virtual currency transaction record in respect of every amount of $10,000 or more in virtual currency that they receive in a single transaction in connection with an activity referred to in section 59, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 64
A real estate developer shall keep the following records in connection with an activity referred to in section 59:
▾ 3 subsections
- (a)
  
  a receipt of funds record in respect of every amount that they receive, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body;
- (b)
  
  an information record in respect of every person or entity to which they sell a new house, new condominium unit, new commercial or industrial building or new multi-unit residential building; and
- (c)
  
  if the receipt of funds record or information record is in respect of a corporation, a copy of the part of official corporate records that contains any provision relating to the power to bind the corporation in respect of transactions with the real estate developer.

Mortgage Administrators, Mortgage Brokers and Mortgage Lenders ▾

s. 64.1
▾ 3 subsections
- (1)
  
  A mortgage administrator is engaged in a business or profession for the purposes of paragraph 5(i) of the Act.
- (2)
  
  A mortgage broker is engaged in a business or profession for the purposes of paragraph 5(i) of the Act.
- (3)
  
  A mortgage lender is engaged in a business or profession for the purposes of paragraph 5(i) of the Act.
s. 64.2

A mortgage administrator, mortgage broker or mortgage lender that receives an amount of $10,000 or more in cash in a single transaction shall report the transaction to the Centre, together with the information set out in Schedule 1, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 64.3

A mortgage administrator, mortgage broker or mortgage lender that receives an amount of $10,000 or more in virtual currency in a single transaction shall report the transaction to the Centre, together with the information set out in Schedule 4, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 64.4

A mortgage administrator, mortgage broker or mortgage lender shall keep a large cash transaction record in respect of every amount of $10,000 or more in cash that they receive in a single transaction, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 64.5

A mortgage administrator, mortgage broker or mortgage lender shall keep a large virtual currency transaction record in respect of every amount of $10,000 or more in virtual currency that they receive in a single transaction, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 64.6
A mortgage administrator, mortgage broker or mortgage lender shall keep the following records:
▾ 4 subsections
- (a)
  
  a receipt of funds record in respect of every amount that they receive in connection with a mortgage on real property or a hypothec on immovables, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body;
- (b)
  
  an information record in respect of every person or entity
  
  ▾ 3 paragraphs
  
  (i)
  
  in the case of a mortgage administrator, for which they service a mortgage agreement on real property or a hypothec agreement on immovables,
  
  (ii)
  
  in the case of a mortgage broker, for which they arrange a loan secured by a mortgage on real property or by a hypothec on immovables, and
  
  (iii)
  
  in the case of a mortgage lender, to which they provide a loan secured by a mortgage on real property or by a hypothec on immovables or from which they raise funds for such a loan;
- (c)
  
  in respect of any loan secured by a mortgage on real property or by a hypothec on immovables that it enters into with a client, a record of the client’s financial capacity, the terms of the loan, the nature of the client’s principal business or their occupation and, if the client is a person, the name and address of their business or place of work; and
- (d)
  
  if the receipt of funds record or information record is in respect of a corporation, a copy of the part of official corporate records that contains any provision relating to the power to bind the corporation in respect of transactions with the mortgage administrator, mortgage broker or mortgage lender.

Title Insurers ▾

s. 64.7

A title insurer is engaged in a business or profession for the purposes of paragraph 5(j) of the Act when they provide a title insurance policy to the purchaser of real property or an immovable.
s. 64.8
A title insurer must keep, in respect of every title insurance policy that they provide to the purchaser of real property or an immovable, a record of
▾ 7 subsections
- (a)
  
  the name and address of the purchaser and, in the case of a person, their date of birth;
- (b)
  
  the legal description and address of the real property or immovable;
- (c)
  
  the closing date of the purchase;
- (d)
  
  the purchase price;
- (e)
  
  the amount of any loan secured by a mortgage on the real property or a hypothec on the immovable and the name of the lender;
- (f)
  
  if known, the name of the vendor; and
- (g)
  
  any title information respecting the real property or immovable that is found in the land registry in which the title to the real property or immovable is recorded.

Dealers in Precious Metals and Precious Stones ▾

s. 65
▾ 3 subsections
- (1)
  
  A dealer in precious metals and precious stones, other than a department or an agent of His Majesty in right of Canada or an agent or mandatary of His Majesty in right of a province, that buys or sells precious metals, precious stones or jewellery, for an amount of $10,000 or more is engaged in an activity for the purposes of paragraph 5(i) of the Act. A department or an agent of His Majesty in right of Canada or an agent or mandatary of His Majesty in right of a province carries out an activity for the purposes of paragraph 5(l) of the Act when they sell precious metals to the public for an amount of $10,000 or more.
- (2)
  
  The activities referred to in subsection (1) do not include a purchase or sale that is carried out in the course of or in connection with manufacturing a product that contains precious metals or precious stones, extracting precious metals or precious stones from a mine or polishing or cutting precious stones.
- (3)
  
  For greater certainty, the activities referred to in subsection (1) include the sale of precious metals, precious stones or jewellery that are left on consignment with a dealer in precious metals and precious stones. Goods left with an auctioneer for sale at auction are not considered to be left on consignment.
s. 66

A dealer in precious metals and precious stones that receives an amount of $10,000 or more in cash in a single transaction in connection with an activity referred to in section 65 shall report the transaction to the Centre, together with the information set out in Schedule 1, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 67

A dealer in precious metals and precious stones that receives an amount of $10,000 or more in virtual currency in a single transaction in connection with an activity referred to in section 65 shall report the transaction to the Centre, together with the information set out in Schedule 4.
s. 68

A dealer in precious metals and precious stones shall keep a large cash transaction record in respect of every amount of $10,000 or more in cash that they receive in a single transaction in connection with an activity referred to in section 65, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 69

A dealer in precious metals and precious stones shall keep a large virtual currency transaction record in respect of every amount of $10,000 or more in virtual currency that they receive in a single transaction in connection with an activity referred to in section 65, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.

Casinos ▾

s. 70
▾ 2 subsections
- (1)
  
  A casino shall report the following transactions and information to the Centre:
  
  ▾ 4 paragraphs
  
  (a)
  
  the receipt from a person or entity of an amount of $10,000 or more in cash in a single transaction, together with the information set out in Schedule 1;
  
  (b)
  
  the initiation, at the request of a person or entity, of an international electronic funds transfer of $10,000 or more in a single transaction, together with the information set out in Schedule 2;
  
  (c)
  
  the final receipt of an international electronic funds transfer of $10,000 or more in a single transaction, together with the information set out in Schedule 3; and
  
  (d)
  
  the receipt from a person or entity of an amount of $10,000 or more in virtual currency in a single transaction, together with the information set out in Schedule 4.
- (2)
  
  A casino is not required to report the transaction and information under paragraph (1)(a) if the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 71
A casino shall report to the Centre the disbursement, in any of the following transactions, of $10,000 or more in a single transaction, together with the information set out in Schedule 6:
▾ 8 subsections
- (a)
  
  the redemption of chips, tokens or plaques;
- (b)
  
  a front cash withdrawal;
- (c)
  
  a safekeeping withdrawal;
- (d)
  
  an advance on any form of credit, including an advance by a marker or a counter cheque;
- (e)
  
  a payment on a bet, including a slot jackpot;
- (f)
  
  a payment to a client of funds received for credit to that client or another client;
- (g)
  
  the cashing of a cheque or the redemption of another negotiable instrument; and
- (h)
  
  a reimbursement to a client of travel or entertainment expenses.
s. 72
▾ 2 subsections
- (1)
  
  A casino shall keep a large cash transaction record in respect of every amount of $10,000 or more in cash that the casino receives from a person or entity in a single transaction, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
- (2)
  
  For greater certainty, the transactions referred to in subsection (1) include the following:
  
  ▾ 6 paragraphs
  
  (a)
  
  the sale of chips, tokens or plaques;
  
  (b)
  
  a front cash deposit;
  
  (c)
  
  a safekeeping deposit;
  
  (d)
  
  the repayment of any form of credit, including repayment by a marker or a counter cheque;
  
  (e)
  
  a bet of fiat currency; and
  
  (f)
  
  a sale of the casino’s cheques.
s. 73

A casino shall keep a large virtual currency transaction record in respect of every amount of $10,000 or more in virtual currency that the casino receives from a person or entity in a single transaction, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 74
▾ 2 subsections
- (1)
  
  A casino shall keep the following records in respect of every account that the casino opens:
  
  ▾ 8 paragraphs
  
  (a)
  
  every signature card;
  
  (b)
  
  a record of the name, address and telephone number of each account holder and of every other person who is authorized to give instructions in respect of the account, the nature of their principal business or their occupation and, in the case of a person, their date of birth;
  
  (c)
  
  if an account holder is a corporation, a copy of the part of official corporate records that contains any provision relating to the power to bind the corporation in respect of the transaction or account;
  
  (d)
  
  a record that sets out the intended use of the account;
  
  (e)
  
  a record of every application in respect of the account;
  
  (f)
  
  every account operating agreement that the casino creates or receives in respect of the account;
  
  (g)
  
  a deposit slip in respect of every deposit that is made into the account; and
  
  (h)
  
  every debit and credit memo that the casino creates or receives in respect of the account.
- (2)
  
  A casino shall keep the following records in respect of every transaction that is conducted with it:
  
  ▾ 6 paragraphs
  
  (a)
  
  if the casino extends credit of $3,000 or more to a person or entity, a record of
  
  ▾ 2 subparagraphs
  
  (i)
  
  the person’s or entity’s name and address, the nature of their principal business or their occupation and, in the case of a person, their date of birth, and
  
  (ii)
  
  the terms of the extension of credit, the date on which credit was extended and the amount of credit extended;
  
  (b)
  
  a foreign currency exchange transaction ticket in respect of every foreign currency exchange transaction;
  
  (c)
  
  if the casino initiates an electronic funds transfer of $1,000 or more at the request of a person or entity, a record of
  
  ▾ 8 subparagraphs
  
  (i)
  
  the date on which the electronic funds transfer is initiated,
  
  (ii)
  
  the type and amount of each type of funds that is involved in the initiation,
  
  (iii)
  
  the person’s or entity’s name, address and telephone number, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the exchange rates used and their source,
  
  (v)
  
  the name and address of each beneficiary,
  
  (vi)
  
  the number of every account that is affected by the initiation, the type of account and the name of each account holder,
  
  (vii)
  
  every reference number that is connected to the electronic funds transfer and has a function equivalent to that of an account number, and
  
  (viii)
  
  the number of every account that is affected by the electronic funds transfer, other than those referred to in subparagraph (vi);
  
  (d)
  
  if the casino sends an international electronic funds transfer of $1,000 or more that was initiated by another person or entity, a record of
  
  ▾ 7 subparagraphs
  
  (i)
  
  the date on which the electronic funds transfer is sent,
  
  (ii)
  
  if the casino exchanges fiat currencies in the course of sending the electronic funds transfer, the type and amount of each fiat currency that is involved in the exchange,
  
  (iii)
  
  the exchange rates used and their source,
  
  (iv)
  
  the number of every account that is affected by the sending, the type of account and the name of each account holder, and
  
  (v)
  
  every reference number that is connected to the sending and has a function equivalent to that of an account number,
  
  (vi)
  
  the name, address and telephone number of the person or entity that requested the initiation of the electronic funds transfer, unless that information was not, despite the taking of reasonable measures, included with the transfer and is not otherwise known, and
  
  (vii)
  
  the name and address of each beneficiary, unless that information was not, despite the taking of reasonable measures, included with the transfer and is not otherwise known;
  
  (e)
  
  if the casino is the final recipient of an international electronic funds transfer of $1,000 or more, a record of
  
  ▾ 11 subparagraphs
  
  (i)
  
  the date on which the electronic funds transfer is finally received,
  
  (ii)
  
  the type and amount of each type of funds that is involved in the final receipt,
  
  (iii)
  
  the name, address and telephone number of each beneficiary, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  
  (iv)
  
  the date of the remittance,
  
  (v)
  
  the exchange rates used for the remittance and their source,
  
  (vi)
  
  if the remittance is in funds, the type and amount of each type of funds involved,
  
  (vii)
  
  if the remittance is not in funds, the type of remittance and its value, if different from the amount of funds finally received,
  
  (viii)
  
  the number of every account that is affected by the final receipt or the remittance, the type of account and the name of each account holder,
  
  (ix)
  
  every reference number that is connected to the electronic funds transfer and has a function equivalent to that of an account number,
  
  (x)
  
  the name and address of the person or entity that requested the initiation of the electronic funds transfer, unless that information was not, despite the taking of reasonable measures, included with the transfer and is not otherwise known, and
  
  (xi)
  
  the number of every account that is affected by the electronic funds transfer, other than those referred to in subparagraph (viii); and
  
  (f)
  
  if the casino receives an amount of $3,000 or more from a person or entity, a receipt of funds record in respect of that amount, unless that amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 75

For the purposes of sections 70 to 74, if a registered charity, as defined in subsection 248(1) of the Income Tax Act, conducts and manages, in a permanent establishment of a casino, for a period of not more than two consecutive days at a time, a lottery scheme that includes games of roulette or card games and, in doing so, acts under the supervision of the government of a province that is referred to in paragraph 5(k) of the Act, or of an organization that is referred to in paragraph 5(k.2) of the Act, that conducts and manages such a lottery scheme in the same establishment, the lottery scheme that is conducted and managed by the registered charity is considered to be conducted and managed by the supervising government or organization.

Departments and Agents or Mandataries of His Majesty in Right of Canada or of a Province ▾

s. 76

A department or an agent of His Majesty in right of Canada or an agent or mandatary of His Majesty in right of a province carries out an activity for the purposes of paragraph 5(l) of the Act when they accept deposit liabilities in the course of providing financial services to the public.
s. 77

A department or an agent of His Majesty in right of Canada or an agent or mandatary of His Majesty in right of a province carries out an activity for the purposes of paragraph 5(l) of the Act when they issue, sell or redeem money orders in the course of providing financial services to the public.
s. 78

A department or an agent of His Majesty in right of Canada or an agent or mandatary of His Majesty in right of a province that receives an amount of $10,000 or more in cash in a single transaction in connection with an activity referred to in section 77 shall report the transaction to the Centre, together with the information set out in Schedule 1, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 79

A department or an agent of His Majesty in right of Canada or an agent or mandatary of His Majesty in right of a province that receives an amount of $10,000 or more in virtual currency in a single transaction in connection with an activity referred to in section 77 shall report the transaction to the Centre, together with the information set out in Schedule 4.
s. 80

A department or an agent of His Majesty in right of Canada or an agent or mandatary of His Majesty in right of a province shall keep a large cash transaction record in respect of every amount of $10,000 or more in cash that they receive in a single transaction in connection with an activity referred to in section 77, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 81

A department or an agent of His Majesty in right of Canada or an agent or mandatary of His Majesty in right of a province shall keep a large virtual currency transaction record in respect of every amount of $10,000 or more in virtual currency that they receive in a single transaction in connection with an activity referred to in section 77, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.
s. 82
A department or an agent of His Majesty in right of Canada or an agent or mandatary of His Majesty in right of a province shall keep the following records in connection with an activity referred to in section 77:
▾ 3 subsections
- (a)
  
  if they receive an amount of $3,000 or more as consideration for the issuance or sale of one or more money orders from a person or entity other than either a financial entity or a person who is acting on behalf of a client that is a financial entity,
  
  ▾ 8 paragraphs
  
  (i)
  
  a record of the date of the receipt,
  
  (ii)
  
  in the case of a person, a record of their name, address, date of birth and the nature of their principal business or their occupation,
  
  (iii)
  
  in the case of an entity, an information record,
  
  (iv)
  
  a record of the amount received,
  
  (v)
  
  a record indicating whether the amount received is in funds or virtual currency and the type and amount of each type of funds and each of the virtual currencies involved,
  
  (vi)
  
  a record of the number of every account that is affected by the transaction, the type of account and the name of each account holder,
  
  (vii)
  
  a record of every reference number that is connected to the transaction and has a function equivalent to that of an account number, and
  
  (viii)
  
  if the amount received is in virtual currency, every transaction identifier, including the sending and receiving addresses;
- (b)
  
  if they redeem one or more money orders that total $3,000 or more at the request of a person or entity,
  
  ▾ 8 paragraphs
  
  (i)
  
  a record of the date of the redemption,
  
  (ii)
  
  in the case of a person, a record of their name, address, date of birth and the nature of their principal business or their occupation,
  
  (iii)
  
  in the case of an entity, an information record,
  
  (iv)
  
  a record of the total amount of the money order or orders,
  
  (v)
  
  a record of the name of the issuer of each money order,
  
  (vi)
  
  a record of the number of every account that is affected by the redemption, the type of account and the name of each account holder,
  
  (vii)
  
  a record of every reference number that is connected to the redemption and has a function equivalent to that of an account number; and
  
  (viii)
  
  if the redemption involves virtual currency, every transaction identifier, including the sending and receiving addresses; and
- (c)
  
  if the information record is in respect of a corporation, a copy of the part of official corporate records that contains any provision relating to the power to bind the corporation in respect of transactions with the department or the agent or mandatary.

PART 2: Requirement To Verify Identity ▾

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PART 3: Measures for Verifying Identity ▾

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PART 4: Requirements with Respect to Persons Referred to in Subsection 9.3(1) of the Act ▾

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PART 5: General Provisions ▾

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PART 6: Exceptions ▾

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PART 7: Compliance Programs and Special Measures ▾

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PART 8: Disclosure, Collection and Use of Personal Information ▾

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