GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501
person means an individual. ( personne )
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501
prescribed means prescribed by regulations made by the Governor in Council. ( Version anglaise seulement )
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501
prescribed violation means a violation referred to in section 73.13. ( violation réglementaire )
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501
President means the President of the Canada Border Services Agency appointed under subsection 7 (1) of the Canada Border Services Agency Act . ( président )
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501
private automated banking machine means any automated banking machine that is not owned or operated by a bank as defined in section 2 of the Bank Act , by an association regulated by the Cooperative Credit Associations Act or by a cooperative credit society, a savings and credit union or a caisse populaire regulated by a provincial Act. ( guichet automatique privé )
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501
sanctions evasion offence means an offence arising from the contravention of a restriction or prohibition established by an order or regulation made under the United Nations Act , under Part 1 of the Special Economic Measures Act or under the Justice for Victims of Corrupt Foreign Officials Act (Sergei Magnitsky Law) . ( infraction de contournement de sanctions )
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501
terrorist activity has the same meaning as in subsection 83.01(1) of the Criminal Code . ( activité terroriste )
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501
terrorist activity financing offence means an offence under section 83.02, 83.03 or 83.04 of the Criminal Code or an offence under section 83.12 of the Criminal Code arising out of a contravention of section 83.08 of that Act. ( infraction de financement des activités terroristes )
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501
threats to the security of Canada has the same meaning as in section 2 of the Canadian Security Intelligence Service Act . ( menaces envers la sécurité du Canada )
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 2.1
Regulations — recommendation of Minister 2.1 Regulations under this Act are to be made on the recommendation of the Minister of Finance. 2026, c. 3, s. 578
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 3
Object 3 The object of this Act is (a) to implement specific measures to detect and deter money laundering and the financing of terrorist activities and to facilitate the investigation and prosecution of money laundering offences and terrorist activity financing offences, including (i) establishing record keeping and client identification requirements for financial services providers and other persons or entities that engage in businesses, professions or activities that are susceptible to being used for money laundering or the financing of terrorist activities, (ii) requiring the reporting of suspicious financial transactions and of cross-border movements of currency and monetary instruments, and (iii) establishing an agency that is responsible for ensuring compliance with Parts 1 and 1.1 and for dealing with reported and other information; (b) to respond to the threat posed by organized crime by providing law enforcement officials with the information they need to deprive criminals of the proceeds of their criminal activities, while ensuring that appropriate safeguards are put in place to protect the privacy of persons with respect to personal information about themselves; (c) to assist in fulfilling Canada’s international commitments to participate in the fight against transnational crime, particularly money laundering, and the fight against terrorist activity; and (d) to enhance Canada’s capacity to take targeted measures to protect its financial system and to facilitate Canada’s efforts to mitigate the risk that its financial system could be used as a vehicle for money laundering and the financing of terrorist activities. 2000, c. 17, s. 3; 2001, c. 41, s. 50; 2010, c. 12, s. 1863; 2014, c. 20, s. 255
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 4
Binding on Her Majesty 4 This Act is binding on Her Majesty in right of Canada or a province.
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 5
) of the Criminal Code , in a permanent establishment that is held out to be a casino, conducts and manages a lottery scheme that includes games of roulette or card games, unless the organization is a registered charity, as defined in subsection 248(1) of the Income Tax Act , and the lottery scheme is conducted or managed for a period of not more than two consecutive days at a time; (k.3) the board of a fair or of an exhibition, or the operator of a concession leased by such a board, that, in accordance with paragraph 207(1)(c) of the Criminal Code , in a permanent establishment that is held out to be a casino, conducts and manages a lottery scheme that includes games of roulette or card games; (l) departments and agents or mandataries of Her Majesty in right of Canada or of a province that are engaged in the business of accepting deposit liabilities, that issue or sell money orders to, or redeem them from, the public or that sell prescribed precious metals, while carrying out a prescribed activity; and (m) for the purposes of section 7, employees of a person or entity referred to in any of paragraphs (a) to (l). 2000, c. 17, s. 5; 2001, c. 41, s. 51; 2006, c. 12, s. 3; 2014, c. 20, s. 256; 2017, c. 20, ss. 408, 436; 2018, c. 29, s. 78 2021, c. 23, s. 159 2024, c. 15, s. 279 2024, c. 17, s. 340 2024, c. 17, s. 349
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 5.1
Clarification 5.1 For greater certainty, this Part does not apply to persons or entities referred to in paragraph 5(h.1) in respect of the services they provide to persons or entities outside Canada. 2014, c. 20, s. 257
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 6
Record keeping 6 Every person or entity referred to in section 5 shall keep records in accordance with the regulations. 2000, c. 17, s. 6; 2006, c. 12, s. 4; 2017, c. 20, s. 409
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 6.1
Verifying identity 6.1 Every person or entity referred to in section 5 shall verify the identity of a person or entity in accordance with the regulations. 2006, c. 12, s. 4; 2017, c. 20, s. 409
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 7
Transactions if reasonable grounds to suspect 7 Subject to section 10.1, every person or entity referred to in section 5 shall, in accordance with the regulations, report to the Centre every financial transaction that occurs or that is attempted in the course of their activities and in respect of which there are reasonable grounds to suspect that (a) the transaction is related to the commission or the attempted commission of a money laundering offence; (b) the transaction is related to the commission or the attempted commission of a terrorist activity financing offence; or (c) the transaction is related to the commission or the attempted commission of a sanctions evasion offence. 2000, c. 17, s. 7; 2001, c. 41, s. 52; 2006, c. 12, s. 5; 2017, c. 20, s. 410 2024, c. 15, s. 280
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 7.1
Disclosure 7.1 (1) Every person or entity referred to in section 5 shall report to the Centre in accordance with the regulations if the person or entity is required to make a disclosure under (a) section 83.1 of the Criminal Code ; (b) an order or regulation made under the United Nations Act ; (c) an order or regulation made under Part 1 of the Special Economic Measures Act ; or (d) subsection 7(2) of the Justice for Victims of Corrupt Foreign Officials Act (Sergei Magnitsky Law) . Limitation (2) Subsection (1) does not apply to prescribed persons or entities, or prescribed classes of persons or entities, in respect of prescribed transactions or property, or classes of transactions or property, if the prescribed conditions are met. 2001, c. 41, s. 52; 2006, c. 12, s. 6; 2017, c. 20, s. 411 2023, c. 26, s. 181 2024, c. 15, s. 299 2026, c. 3, s. 360
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 8
No disclosure of reports 8 No person or entity shall disclose that they have made, are making or will make a report under section 7, or disclose the contents of such a report, with the intent to prejudice a criminal investigation, whether or not a criminal investigation has begun. 2000, c. 17, s. 8; 2017, c. 20, s. 412
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 9
Financial transactions to be reported 9 (1) Subject to section 10.1, every person or entity referred to in section 5 shall report to the Centre, in accordance with the regulations, (a) any financial transaction, or any financial transaction within a class of financial transactions, specified in a directive issued under Part 1.1 that occurs or that is attempted in the course of their activities; and (b) any prescribed financial transaction that occurs in the course of their activities. Limitation (2) Subsection (1) does not apply to prescribed persons or entities, or prescribed classes of persons or entities, in respect of prescribed transactions, classes of transactions, clients or classes of clients, if the prescribed conditions are met. List of persons (3) Every person or entity referred to in section 5 shall establish and maintain a list, in the prescribed form and manner, of their clients in respect of whom a report would have been required under subsection (1) were it not for subsection (2). However, a person or an entity may choose to report a client’s transactions under subsection (1) instead of maintaining the list in respect of that client. 2000, c. 17, s. 9; 2006, c. 12, s. 7; 2010, c. 12, s. 1864; 2017, c. 20, s. 413
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 9.1
Reports under other Acts 9.1 Subject to section 9, every person or entity that is required to make a report to the Centre under another Act of Parliament or any regulations under it shall make the report in the form and manner and within the period prescribed under this Act for a report under that Act. 2001, c. 41, s. 53; 2017, c. 20, s. 414
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 9.11
Prohibition — government institution or authorized agency 9.11 (1) Every government institution or agency that accepts a report required by regulations made under paragraph 73(1)(c) or a similar report voluntarily submitted to it is prohibited from disclosing that report or its contents to any person or entity, except in prescribed circumstances. Exceptions (2) However, a government institution or agency may disclose the report or its contents to any of the following: (a) the Centre; (b) the appropriate police force; (c) the Canada Revenue Agency; (d) the Agence du revenu du Québec; (e) an agency or body that administers legislation governing incorporation; (f) any prescribed entity. For greater certainty (3) For greater certainty, subsection (1) does not apply to an entity referred to in any of paragraphs (2)(a) to (f) in respect of a report or its contents if the report or its contents were disclosed to the entity under subsection (2). 2026, c. 3, s. 579
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 9.2
Prohibition — anonymous account or client 9.2 (1) No person or entity referred to in section 5 shall open an anonymous account or an account for an anonymous client. Anonymous client (2) A client is anonymous for the purposes of subsection (1) if the person or entity cannot verify the identity of the client in accordance with the regulations or if the client’s name is obviously fictitious. 2006, c. 12, s. 8; 2017, c. 20, s. 414 2026, c. 4, s. 78
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 9.3
resident of a state-owned company or a state-owned bank; (g) head of a government agency; (h) judge of a supreme court, constitutional court or other court of last resort; (i) leader or president of a political party represented in a legislature; or (j) holder of any prescribed office or position. ( étranger politiquement vulnérable ) 2006, c. 12, s. 8; 2014, c. 20, s. 258; 2017, c. 20, s. 439 2019, c. 29, s. 105 2021, c. 23, s. 160
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 (a)
head of an international organization means a person who, at a given time, holds — or has held within a prescribed period before that time — the office or position of head of (a) an international organization that is established by the governments of states; (b) an institution of an organization referred to in paragraph (a); or (c) an international sports organization. ( dirigeant d’une organisation internationale )
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 (a)
politically exposed domestic person means a person who, at a given time, holds — or has held within a prescribed period before that time — one of the offices or positions referred to in any of paragraphs (a) and (c) to (j) in or on behalf of the federal government or a provincial government or any of the offices or positions referred to in paragraphs (b) and (k): (a) Governor General, lieutenant governor or head of government; (b) member of the Senate or House of Commons or member of the legislature of a province; (c) deputy minister or equivalent rank; (d) ambassador, or attaché or counsellor of an ambassador; (e) military officer with a rank of general or above; (f) president of a corporation that is wholly owned directly by Her Majesty in right of Canada or a province; (g) head of a government agency; (h) judge of an appellate court in a province, the Federal Court of Appeal or the Supreme Court of Canada; (i) leader or president of a political party represented in a legislature; (j) holder of any prescribed office or position; or (k) mayor, reeve or other similar chief officer of a municipal or local government. ( national politiquement vulnérable )
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 (a)
politically exposed foreign person means a person who holds or has held one of the following offices or positions in or on behalf of a foreign state: (a) head of state or head of government; (b) member of the executive council of government or member of a legislature; (c) deputy minister or equivalent rank; (d) ambassador, or attaché or counsellor of an ambassador; (e) military officer with a rank of general or above; (f) president of a state-owned company or a state-owned bank; (g) head of a government agency; (h) judge of a supreme court, constitutional court or other court of last resort; (i) leader or president of a political party represented in a legislature; or (j) holder of any prescribed office or position. ( étranger politiquement vulnérable )
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 9.31
Prohibition if unregistered 9.31 (1) No entity referred to in paragraph 5(a), (b), (d), (e) or (e.1) and no other entity that is referred to in section 5 and that is prescribed shall open or maintain an account for, or have a correspondent banking relationship with, a person or entity referred to in paragraph 5(h.1) unless that person or entity is registered with the Centre under section 11.1. Definition of correspondent banking relationship (2) For the purposes of this section, correspondent banking relationship means a relationship created by an agreement or arrangement under which an entity referred to in paragraph 5(a), (b), (d), (e) or (e.1) or an entity that is referred to in section 5 and that is prescribed undertakes to provide to a person or entity referred to in paragraph 5(h.1) prescribed services or international electronic funds transfers, cash management or cheque clearing services. 2014, c. 20, s. 258 2017, c. 20, s. 438
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 9.4
Correspondent banking 9.4 (1) Every entity referred to in any of paragraphs 5(a), (b), (d), (e) and (e.1) and every other entity that is referred to in section 5 and that is prescribed shall take the measures referred to in the regulations in respect of any correspondent banking relationship it enters into with a prescribed foreign entity and shall take the following measures before entering into such a correspondent banking relationship: (a) obtain prescribed information about the foreign entity and its activities; (b) ensure that the foreign entity is not a shell bank as defined in the regulations; (c) obtain the approval of senior management; (d) set out in writing their obligations and those of the foreign entity in respect of the correspondent banking services; and (e) any prescribed measures. Prohibition — shell bank (2) No person or entity shall have a correspondent banking relationship with a shell bank as defined in the regulations. Definition of correspondent banking relationship (3) For the purposes of this section, correspondent banking relationship means a relationship created by an agreement or arrangement under which an entity referred to in any of paragraphs 5(a), (b), (d), (e) and (e.1) or an entity that is referred to in section 5 and that is prescribed undertakes to provide to a prescribed foreign entity prescribed services or international electronic funds transfers, cash management or cheque clearing services. 2006, c. 12, s. 8; 2014, c. 20, s. 259; 2017, c. 20, s. 415
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 9.5
Electronic funds transfer 9.5 Every person or entity that is referred to in section 5 and that is prescribed shall, in respect of a prescribed electronic funds transfer that occurs in the course of their financial activities, (a) include with the transfer any prescribed information and, as the case may be, (i) the name, address and account number of the holder of the account from which the funds for the transfer are withdrawn, or (ii) the name, address and reference number of the person or entity that requested the transfer; (b) take reasonable measures to ensure that any transfer that the person or entity receives includes that information; and (c) take any prescribed measures. 2006, c. 12, s. 8 2019, c. 29, s. 106 2024, c. 15, s. 281
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 9.6
Compliance program 9.6 (1) Every person or entity referred to in section 5 shall establish and implement, in accordance with the regulations, a program intended to ensure their compliance with this Part and Part 1.1. Program requirements (1.1) The person or entity shall ensure that the program is reasonably designed, risk-based and effective. Risk assessment (2) The program shall include the development and application of policies and procedures for the person or entity to assess, in the course of their activities, the risk of a money laundering offence or a terrorist activity financing offence. Special measures (3) If, at any time, the person or entity considers that the risk referred to in subsection (2) is high, or in the prescribed circumstances, the person or entity shall take the special measures referred to in the regulations. 2006, c. 12, s. 8; 2010, c. 12, s. 1865; 2017, c. 20, s. 416 2021, c. 23, s. 161(F) 2026, c. 4, s. 79
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 9.61
Measures and information: paragraph 5(e.1) 9.61 (1) Every entity referred to in paragraph 5(e.1) shall take the prescribed measures related to the program referred to in subsection 9.6(1) and shall provide the prescribed information to the Centre in the prescribed circumstances. Service (2) An entity referred to in paragraph 5(e.1) must provide to the Centre the name and address for service of a person who resides in Canada and who is authorized to accept, on behalf of the entity, notices that are served or caused to be served by the Centre under this Act. Authorized person (3) The service of a notice by or on behalf of the Centre on an entity referred to in paragraph 5(e.1) is sufficient if it is served on the person whose name is provided under subsection (2). 2017, c. 20, s. 417
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 9.7
Foreign branches and subsidiaries 9.7 (1) Every entity referred to in any of paragraphs 5(a) to (g), except for authorized foreign banks within the meaning of section 2 of the Bank Act and for foreign companies within the meaning of subsection 2(1) of the Insurance Companies Act , shall, in respect of its foreign branches, and in respect of its foreign subsidiaries that carry out activities similar to those of entities referred to in those paragraphs and that are either wholly-owned by the entity or have financial statements that are consolidated with those of the entity, develop policies that establish requirements similar to the requirements of sections 6, 6.1 and 9.6 and ensure that those branches and subsidiaries apply those policies to the extent it is permitted by, and does not conflict with, the laws of the foreign state in which the branch or subsidiary is located. Board approval of policies (2) Before the policies referred to in subsection (1) are applied, the entity’s board of directors, if there is one, shall approve them. Exceptions (3) Subsection (1) does not apply to (a) an entity that is a subsidiary of an entity to which that subsection applies; or (b) an entity that is a subsidiary of a foreign entity that has developed policies that establish requirements for its subsidiaries that are similar to the requirements of sections 6, 6.1 and 9.6, if that subsidiary is applying those policies to the extent it is permitted by, and do not conflict with, the laws of Canada or a province. Records and reporting (4) If the application by a foreign branch or a foreign subsidiary of a policy referred to in subsection (1) is not permitted by or would conflict with the laws of the foreign state in which the branch or subsidiary is located, the entity shall keep, in accordance with section 6, a record of that fact and of the reasons why it is not permitted or it would conflict and shall, within a reasonable time, notify the Centre, and the principal agency or body that supervises or regulates it under federal or provincial law, of that fact and those reasons. 2006, c. 12, s. 8; 2010, c. 12, s. 1866; 2014, c. 20, s. 260; 2017, c. 20, s. 418
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 9.8
Information exchange between affiliated entities 9.8 (1) Every entity referred to in any of paragraphs 5(a) to (g) that is affiliated with an entity referred to in those paragraphs or with a foreign entity that carries out activities similar to those of entities referred to in those paragraphs shall develop and apply policies and procedures related to the exchange of information between the entity and those affiliated entities for the purpose of detecting or deterring a money laundering offence or a terrorist activity financing offence or of assessing the risk of such an offence. Affiliation (2) For the purposes of subsection (1), 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. 2006, c. 12, s. 8; 2010, c. 12, s. 1866; 2014, c. 20, s. 260
Proceeds of Crime (Money Laundering) and Terrorist Financing Act — P-24.501 9.9
Definition of agent or mandatary 9.9 In sections 9.91 to 9.93, agent or mandatary means an agent or mandatary acting on behalf of a person or entity referred to in paragraph 5(h) to provide any of the services referred to in that paragraph. 2023, c. 26, s. 182