SOR/2002-184

What changed

Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

Comparing 2025-07-31 → 2025-11-04

From To

33 modified 74 added · 11 schedule changes

s. 4.1
- (c)
  
  if the person or entity is a real estate broker or sales representative, a real estate developer~~, mortgage administrator, mortgage broker~~ or ~~mortgage~~a ~~lender~~title insurer, the first time that the person or entity is required to verify the identity of the client under these Regulations,

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

Money Services Businesses and Foreign Money Services Businesses ▾

s. 36
- (i)
  
  a foreign currency exchange transaction ticket in respect of every foreign currency exchange transaction; ~~and~~
- (j)
  
  a virtual currency exchange transaction ticket in respect of every virtual currency exchange transaction.; and
- (k)
  added on 2025-11-04
  if they provide acquirer services in respect of a private automated banking machine, a record of (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 (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 (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.
- (i)
  added on 2025-11-04
  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)
  added on 2025-11-04
  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 (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,
- (A)
  added on 2025-11-04
  in the case of a person, their date of birth and the nature of their principal business or their occupation, and
- (B)
  added on 2025-11-04
  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)
  added on 2025-11-04
  the number of the settlement account for the private automated banking machine and the name and address of each account holder, as well as (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,
- (A)
  added on 2025-11-04
  in the case of a person, their date of birth and the nature of their principal business or their occupation, and
- (B)
  added on 2025-11-04
  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)
  added on 2025-11-04
  the terminal identification number of the private automated banking machine,
- (v)
  added on 2025-11-04
  the brand, model and serial number of the private automated banking machine,
- (vi)
  added on 2025-11-04
  the number of bills that the private automated banking machine can contain,
- (vii)
  added on 2025-11-04
  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)
  added on 2025-11-04
  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)
  added on 2025-11-04
  the source of the cash that is loaded into the private automated banking machine, and
- (x)
  added on 2025-11-04
  the method used to transport the cash.
s. 37.1
added on 2025-11-04
- (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.

Real Estate Brokers or Sales Representatives ▾

s. 58
- (1)
  
  A real estate broker or sales representative shall keep the following records in connection with an activity referred to in section 53: (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.
- (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

Title Insurers ▾

s. 64.7
added on 2025-11-04
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
added on 2025-11-04
- (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.

PART 2: Requirement To Verify Identity ▾

Money Services Businesses and Foreign Money Services Businesses ▾

s. 95
- (1)
  
  A money services business — or a foreign money services business in connection with services that they provide in Canada — shall, in accordance with section 105, verify the identity of a person who (a) requests that they issue or redeem money orders, traveller’s cheques or similar negotiable instruments in an amount of $3,000 or more; (a.1) requests that they transmit an amount of $1,000 or more in funds, other than in the case of an electronic funds transfer; (a.2) requests that they cash one or more cheques that total $3,000 or more; (b) requests that they initiate an electronic funds transfer of $1,000 or more; (c) requests that they exchange an amount of $3,000 or more in a foreign currency exchange transaction; (c.1) requests that they transport an amount of $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 an amount of $3,000 or more in money orders, traveller’s cheques or other similar negotiable instruments; (d) requests that they transfer an amount of $1,000 or more in virtual currency; (e) requests that they exchange an amount of $1,000 or more in a virtual currency exchange transaction; (e.1) is a beneficiary of an amount of $1,000 or more in funds, to whom they make the remittance, other than in the case of an electronic funds transfer; (f) is a beneficiary of an international electronic funds transfer of $1,000 or more, or of a transfer of an amount of $1,000 or more in virtual currency, to whom they make the remittance; (f.1) owns, leases or operates a private automated banking machine in respect of which they provide acquirer services; (f.2) owns the cash that is loaded into a private automated banking machine in respect of which they provide acquirer services; (f.3) is an account holder of a settlement account for a private automated banking machine in respect of which they provide acquirer services; (g) is a person in respect of whom they are required to keep an information record under paragraph 36.1(a); or (h) donates an amount of $1,000 or more in funds or virtual currency using a crowdfunding platform that is provided and maintained by the money services business or foreign money services business.
- (f.1)
  added on 2025-11-04
  owns, leases or operates a private automated banking machine in respect of which they provide acquirer services;
- (f.2)
  added on 2025-11-04
  owns the cash that is loaded into a private automated banking machine in respect of which they provide acquirer services;
- (f.3)
  added on 2025-11-04
  is an account holder of a settlement account for a private automated banking machine in respect of which they provide acquirer services;
- (3)
  
  A money services business — or foreign money services business in connection with services that they provide in Canada — shall, in accordance with section 109, verify the identity of a corporation (a) that requests that they transport an amount of $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 an amount of $3,000 or more in money orders, traveller’s cheques or other similar negotiable instruments; (a.01) that owns, leases or operates a private automated banking machine in respect of which they provide acquirer services; (a.02) that owns the cash that is loaded into a private automated banking machine in respect of which they provide acquirer services; (a.03) that is an account holder of a settlement account for a private automated banking machine in respect of which they provide acquirer services; (a.1) in respect of which they are required to keep an information record under paragraph 36.1(a); (b) in respect of which they are required to keep an information record under section 37; (c) that donates an amount of $1,000 or more in funds or virtual currency using a crowdfunding platform that is provided and maintained by the money services business or foreign money services business; or (d) that requests that they cash one or more cheques that total $3,000 or more.
- (a.01)
  added on 2025-11-04
  that owns, leases or operates a private automated banking machine in respect of which they provide acquirer services;
- (a.02)
  added on 2025-11-04
  that owns the cash that is loaded into a private automated banking machine in respect of which they provide acquirer services;
- (a.03)
  added on 2025-11-04
  that is an account holder of a settlement account for a private automated banking machine in respect of which they provide acquirer services;
- (4)
  
  A money services business — or foreign money services business in connection with services that they provide in Canada — shall, in accordance with section 112, verify the identity of an entity, other than a corporation, (a) that requests that they transport an amount of $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 an amount of $3,000 or more in money orders, traveller’s cheques or other similar negotiable instruments; (a.01) that owns, leases or operates a private automated banking machine in respect of which they provide acquirer services; (a.02) that owns the cash that is loaded into a private automated banking machine in respect of which they provide acquirer services; (a.03) that is an account holder of a settlement account for a private automated banking machine in respect of which they provide acquirer services; (a.1) in respect of which they are required to keep an information record under paragraph 36.1(a); (b) in respect of which they are required to keep an information record under section 37; (c) that donates an amount of $1,000 or more in funds or virtual currency using a crowdfunding platform that is provided and maintained by the money services business or foreign money services business; or (d) that requests that they cash one or more cheques that total $3,000 or more.
- (a.01)
  added on 2025-11-04
  that owns, leases or operates a private automated banking machine in respect of which they provide acquirer services;
- (a.02)
  added on 2025-11-04
  that owns the cash that is loaded into a private automated banking machine in respect of which they provide acquirer services;
- (a.03)
  added on 2025-11-04
  that is an account holder of a settlement account for a private automated banking machine in respect of which they provide acquirer services;

Real Estate Brokers or Sales Representatives ▾

s. 101
- (3)
  
  If one or more but not all of the parties to a transaction are represented by a real estate broker or sales representative, each real estate broker or sales representative shall ~~take reasonable measures to~~ verify the identity of the party or parties that are not represented.
- (4)
  
  ~~If a real estate broker or sales representative is unable to verify the identity of a party under subsection (3)~~[Repealed, ~~they shall keep a record that sets out the measures taken~~SOR/2024-267, ~~the~~s. ~~date on which each measure was taken and the reasons why the measures were unsuccessful.~~13]

Title Insurers ▾

s. 102.2
added on 2025-11-04
- (a)
  
  in accordance with section 105, verify the identity of a person who is the purchaser of real property or an immovable and to whom they provide a title insurance policy;
- (b)
  
  in accordance with section 109, verify the identity of a corporation that is the purchaser of real property or an immovable and to which they provide a title insurance policy; and
- (c)
  
  in accordance with section 112, verify the identity of an entity, other than a corporation, that is the purchaser of real property or an immovable and to which they provide a title insurance policy.

PART 3: Measures for Verifying Identity ▾

s. 105
- (7)
  
  The identity shall be verified (a) in the cases referred to in section 84, subparagraphs 86(a)(iii) and 88(a)(iii), paragraphs 95(1)(a) to (f), 96(a), 97(1)(a), 100(a), 101(1)(a), 102(a) and 102.1(a), subparagraphs 103(a)(iii) to (vii) and paragraph 104(a), at the time of the transaction; (b) subject to paragraph (j), in the cases referred to in subparagraphs 86(a)(i) and (ii) and paragraph 94(a), before the first transaction, other than an initial deposit, is carried out on the account; (c) in the case referred to in section 85, before the transaction or attempted transaction is reported under section 7 of the Act; (d) in the case referred to in paragraph 87(a), before any credit card issued on the account is activated; (e) in the case referred to in subparagraph 88(a)(i), before the prepaid payment product account is activated; (f) in the case referred to in subparagraph 88(a)(ii), before the first transaction is carried out by the authorized user on the prepaid payment product account; (g) in the cases referred to in paragraphs 89(a) and (d) and subparagraph 89(e)(i), within 15 days after the day on which the trust company becomes the trustee; (h) subject to paragraph (j), in the case referred to in paragraph 92(a), within 30 days after the day on which the information record is created; (h.001) in the cases referred to in paragraphs 93.1(1)(a) and 93.2(1)(a), at the time the record is created; (h.01) in the case referred to in paragraph 95(1)(c.1), before the first transport of cash, virtual currency or negotiable instruments is carried out; (h.02) in the cases referred to in paragraphs 95(1)(f.1) to (f.3), before the acquirer services are provided; (h.1) in the case referred to in paragraph 95(1)(g), at the time the information record is created; (h.2) in the case referred to in paragraph 95(1)(h), at the time of the donation; (h.3) in the case referred to in paragraph 102.2(a), at the time the title insurance policy is provided; (i) in the cases referred to in subparagraphs 103(a)(i) and (ii), before any funds are disbursed; and (j) in the case of a group plan account, at the time a contribution in respect of a member of the group plan is made to the plan.
- (h.02)
  added on 2025-11-04
  in the cases referred to in paragraphs 95(1)(f.1) to (f.3), before the acquirer services are provided;
- (h.3)
  added on 2025-11-04
  in the case referred to in paragraph 102.2(a), at the time the title insurance policy is provided;
s. 109
- (4)
  
  The corporation’s identity shall be verified (a) in the cases referred to in section 84, subparagraph 88(b)(ii) and paragraph 95(3)(d), at the time of the transaction; (b) in the case referred to in section 85, before the transaction or attempted transaction is reported under section 7 of the Act; (c) in the cases referred to in paragraphs 86(b) and 103(b), before the first transaction, other than the initial deposit, is carried out on the account; (d) in the case referred to in paragraph 87(b), before any credit card issued on the account is activated; (e) in the case referred to in subparagraph 88(b)(i), before the prepaid payment product account is activated; (f) in the cases referred to in paragraph 89(b) and subparagraph 89(e)(ii), within 15 days after the day on which the trust company becomes the trustee; (g) in the cases referred to in paragraphs 92(b), 95(3)(b) and 104(b), within 30 days after the day on which the information record is created; (g.1) in the cases referred to in paragraphs 93.1(1)(b) and 93.2(1)(b), at the time the record is created; (h) in the case referred to in paragraph 94(b), within 30 days after the day on which the account is opened; (h.01) in the case referred to in paragraph 95(3)(a), before the first transport of cash, virtual currency or negotiable instruments is carried out; (h.02) in the cases referred to in paragraphs 95(3)(a.01) to (a.03), before the acquirer services are provided; (h.1) in the case referred to in paragraph 95(3)(a.1), at the time the information record is created; (h.2) in the case referred to in paragraph 95(3)(c), at the time of the donation; ~~and~~ (i) in the cases referred to in paragraphs 96(b), 97(1)(b), 100(b), 101(1)(b), 102(b) and 102.1(b), within 30 days after the day on which the transaction is conducted; and (j) in the case referred to in paragraph 102.2(b), at the time the title insurance policy is provided.
- (h.02)
  added on 2025-11-04
  in the cases referred to in paragraphs 95(3)(a.01) to (a.03), before the acquirer services are provided;
- (h.2)
  
  in the case referred to in paragraph 95(3)(c), at the time of the donation; ~~and~~
- (i)
  
  in the cases referred to in paragraphs 96(b), 97(1)(b), 100(b), 101(1)(b), 102(b) and 102.1(b), within 30 days after the day on which the transaction is conducted.; and
- (j)
  added on 2025-11-04
  in the case referred to in paragraph 102.2(b), at the time the title insurance policy is provided.
s. 109.1
added on 2025-11-04
- (1)
  
  A person or entity that is required to verify a corporation’s identity in accordance with subsection 109(1) may rely on an agent or mandatary to take the measures to do so.
- (2)
  
  The person or entity may rely on measures that were previously taken by an agent or mandatary to verify the corporation’s identity if the agent or mandatary was, at the time they took the measures, (a) acting in their own capacity, whether or not they were required to take the measures under these Regulations; or (b) acting as an agent or mandatary under a written agreement or arrangement that was entered into, with another person or entity that is required to verify a corporation’s identity, for the purposes of verifying identity in accordance with subsection 109(1).
- (a)
  
  acting in their own capacity, whether or not they were required to take the measures under these Regulations; or
- (b)
  
  acting as an agent or mandatary under a written agreement or arrangement that was entered into, with another person or entity that is required to verify a corporation’s identity, for the purposes of verifying identity in accordance with subsection 109(1).
- (3)
  
  In order to rely, under subsection (1) or (2), on measures taken by an agent or mandatary, the person or entity must (a) have entered into a written agreement or arrangement with the agent or mandatary for the purposes of verifying a corporation’s identity in accordance with subsection 109(1); (b) as soon as feasible, obtain from the agent or mandatary the information that the agent or mandatary referred to in order to verify the corporation’s identity and the information that the agent or mandatary confirmed as being that of the corporation; and (c) be satisfied that the information that the agent or mandatary confirmed as being that of the corporation is valid and current and that the agent or mandatary verified the corporation’s identity in the manner described in subsection 109(1).
- (a)
  
  have entered into a written agreement or arrangement with the agent or mandatary for the purposes of verifying a corporation’s identity in accordance with subsection 109(1);
- (b)
  
  as soon as feasible, obtain from the agent or mandatary the information that the agent or mandatary referred to in order to verify the corporation’s identity and the information that the agent or mandatary confirmed as being that of the corporation; and
- (c)
  
  be satisfied that the information that the agent or mandatary confirmed as being that of the corporation is valid and current and that the agent or mandatary verified the corporation’s identity in the manner described in subsection 109(1).
s. 112
- (3)
  
  The entity’s identity shall be verified (a) in the cases referred to in section 84, subparagraph 88(c)(ii) and paragraph 95(4)(d), at the time of the transaction; (b) in the case referred to in section 85, before the transaction or attempted transaction is reported under section 7 of the Act; (c) in the cases referred to in paragraphs 86(c) and 103(c), before the first transaction, other than the initial deposit, is carried out on the account; (d) in the case referred to in paragraph 87(c), before any credit card issued on the account is activated; (e) in the case referred to in subparagraph 88(c)(i), before the prepaid payment product account is activated; (f) in the cases referred to in paragraph 89(c) and subparagraph 89(e)(ii), within 15 days after the day on which the trust company becomes the trustee; (g) in the cases referred to in paragraphs 92(c), 95(4)(b) and 104(c), within 30 days after the day on which the information record is created; (g.1) in the cases referred to in paragraphs 93.1(1)(c) and 93.2(1)(c) , at the time the record is created; (h) in the case referred to in paragraph 94(c), within 30 days after the day on which the account is opened; (h.01) in the case referred to in paragraph 95(4)(a), before the first transport of cash, virtual currency or negotiable instruments is carried out; (h.02) in the cases referred to in paragraphs 95(4)(a.01) to (a.03), before the acquirer services are provided; (h.1) in the case referred to in paragraph 95(4)(a.1), at the time the information record is created; (h.2) in the case referred to in paragraph 95(4)(c), at the time of the donation; ~~and~~ (i) in the cases referred to in paragraphs 96(c), 97(1)(c), 100(c), 101(1)(c), 102(c) and 102.1(c), within 30 days after the day on which the transaction is conducted; and (j) in the case referred to in paragraph 102.2(c), at the time the title insurance policy is provided.
- (h.02)
  added on 2025-11-04
  in the cases referred to in paragraphs 95(4)(a.01) to (a.03), before the acquirer services are provided;
- (h.2)
  
  in the case referred to in paragraph 95(4)(c), at the time of the donation; ~~and~~
- (i)
  
  in the cases referred to in paragraphs 96(c), 97(1)(c), 100(c), 101(1)(c), 102(c) and 102.1(c), within 30 days after the day on which the transaction is conducted.; and
- (j)
  added on 2025-11-04
  in the case referred to in paragraph 102.2(c), at the time the title insurance policy is provided.
s. 112.1
added on 2025-11-04
- (1)
  
  A person or entity that is required to verify an entity’s identity in accordance with subsection 112(1) may rely on an agent or mandatary to take the measures to do so.
- (2)
  
  The person or entity may rely on measures that were previously taken by an agent or mandatary to verify the entity’s identity if the agent or mandatary was, at the time they took the measures, (a) acting in their own capacity, whether or not they were required to take the measures under these Regulations; or (b) acting as an agent or mandatary under a written agreement or arrangement that was entered into, with another person or entity that is required to verify an entity’s identity, for the purposes of verifying identity in accordance with subsection 112(1).
- (a)
  
  acting in their own capacity, whether or not they were required to take the measures under these Regulations; or
- (b)
  
  acting as an agent or mandatary under a written agreement or arrangement that was entered into, with another person or entity that is required to verify an entity’s identity, for the purposes of verifying identity in accordance with subsection 112(1).
- (3)
  
  In order to rely, under subsection (1) or (2), on measures taken by an agent or mandatary, the person or entity must (a) have entered into a written agreement or arrangement with the agent or mandatary for the purposes of verifying an entity’s identity in accordance with subsection 112(1); (b) as soon as feasible, obtain from the agent or mandatary the information that the agent or mandatary referred to in order to verify the entity’s identity and the information that the agent or mandatary confirmed as being that of the entity; and (c) be satisfied that the information that the agent or mandatary confirmed as being that of the entity is valid and current and that the agent or mandatary verified the entity’s identity in the manner described in subsection 112(1).
- (a)
  
  have entered into a written agreement or arrangement with the agent or mandatary for the purposes of verifying an entity’s identity in accordance with subsection 112(1);
- (b)
  
  as soon as feasible, obtain from the agent or mandatary the information that the agent or mandatary referred to in order to verify the entity’s identity and the information that the agent or mandatary confirmed as being that of the entity; and
- (c)
  
  be satisfied that the information that the agent or mandatary confirmed as being that of the entity is valid and current and that the agent or mandatary verified the entity’s identity in the manner described in subsection 112(1).

PART 5: General Provisions ▾

Reports ▾

s. 131
- (3)
  
  For greater certainty, although items in Schedules 1 to 67 are described in the singular, a person or entity shall report all known information that falls within an item.

Information with Respect to Directors of a Corporation or Other Entity, Persons Who Own or Control 25% or More of a Corporation or Other Entity and Beneficiaries and Settlors of a Trust ▾

s. 138
- (1)
  
  Every person or entity, other than a title insurer, that is required to verify an entity’s identity in accordance with these Regulations shall, at the time the entity’s identity is verified, obtain the following information: (a) in the case of a corporation, the names of all directors of the corporation and the names and addresses of all persons who own or control, directly or indirectly, 25% or more of the shares of the corporation; (a.1) in the case of a widely held or publicly traded trust, the names of all trustees of the trust and the names and addresses of all persons who own or control, directly or indirectly, 25% or more of the units of the trust; (b) in the case of a trust, the names and addresses of all trustees and all known beneficiaries and settlors of the trust; (c) in the case of an entity other than a corporation or trust, the names and addresses of all persons who own or control, directly or indirectly, 25% or more of the entity; and (d) in all cases, information establishing the ownership, control and structure of the entity.
- (2)
  
  Every person ~~and~~or entity that is subject to subsection (1) shall take reasonable measures to confirm the accuracy of the information when it is first obtained under that subsection and in the course of ongoing monitoring of business relationships. In the case of information that is related to a corporation incorporated under the Canada Business Corporations Act, the person or entity shall consult information that is made available to the public under section 21.303 of that Act if they consider, based on a risk assessment referred to in subsection 9.6(2) of the Act, that there is a high risk of a money laundering offence or terrorist activity financing offence.
s. 138.1
added on 2025-11-04
- (1)
  
  Every person or entity that identifies a material discrepancy between the information that they obtain under paragraphs 138(1)(a) and (d) and the information that they consult in accordance with subsection 138(2) shall (a) report the discrepancy to the Director appointed under section 260 of the Canada Business Corporations Act within 30 days after the day on which the discrepancy is identified, together with the information set out in Schedule 7; and (b) keep a copy of any acknowledgement of receipt of the report.
- (a)
  
  report the discrepancy to the Director appointed under section 260 of the Canada Business Corporations Act within 30 days after the day on which the discrepancy is identified, together with the information set out in Schedule 7; and
- (b)
  
  keep a copy of any acknowledgement of receipt of the report.
- (2)
  
  A person or entity is not required to report under paragraph (1)(a) if the material discrepancy is resolved within 30 days after the day on which it is identified.
- (3)
  
  For the purposes of this section, a material discrepancy does not include a discrepancy that arises from (a) an error in spelling or a minor variation in a name or address; (b) the use of a service address in one information source and a residential address in another; (c) the fact that information is not available to the public due to an exception or exemption under subsection 21.303(2) or (3) of the Canada Business Corporations Act; or (d) the fact that information that is made available to the public under section 21.303 of the Canada Business Corporations Act is about persons who are not referred to in paragraph 138(1)(a) of these Regulations, or vice versa.
- (a)
  
  an error in spelling or a minor variation in a name or address;
- (b)
  
  the use of a service address in one information source and a residential address in another;
- (c)
  
  the fact that information is not available to the public due to an exception or exemption under subsection 21.303(2) or (3) of the Canada Business Corporations Act; or
- (d)
  
  the fact that information that is made available to the public under section 21.303 of the Canada Business Corporations Act is about persons who are not referred to in paragraph 138(1)(a) of these Regulations, or vice versa.

PART 6: Exceptions ▾

Requirement To Report Information ▾

s. 152
- (1)
  
  The requirement to report information set out in any of Schedules 1 to 67 does not apply in respect of information set out in an item of that Schedule that is not marked with an asterisk if, after taking reasonable measures to do so, the person or entity is unable to obtain the information.
- (3)
  
  For greater certainty, a person or entity is not required to report information set out in any item of Schedules 1 to 67 that is not applicable in the circumstances.

Schedules ▾

SCHEDULE 7 11 changes ▾

1

PART A
added on 2025-11-04
Person’s or entity’s name
2

PART A
added on 2025-11-04
Type of person or entity, as described in any of paragraphs 5(a) to (h.1) and (k) of the Act, or, if person or entity is referred to in paragraph 5(i), (j) or (l) of the Act, type of prescribed business, profession or activity referred to in that paragraph
3

PART A
added on 2025-11-04
Identification number assigned to person or entity by Centre
4

PART A
added on 2025-11-04
Number that identifies place of business
5

PART A
added on 2025-11-04
Address of place of business
6

PART A
added on 2025-11-04
Contact person’s name
7

PART A
added on 2025-11-04
Contact person’s email address
8

PART A
added on 2025-11-04
Contact person’s telephone number
1

PART B
added on 2025-11-04
Name of reported company and identifying number on its certificate of incorporation, amalgamation or continuance
2

PART B
added on 2025-11-04
Date on which discrepancy was identified
3

PART B
added on 2025-11-04
Description of discrepancy