Source: https://www.parl.ca/DocumentViewer/en/36-2/bill/C-22/royal-assent/page-11
Timestamp: 2020-05-25 22:17:06
Document Index: 576410595

Matched Legal Cases: ['art 1', 'art 2', 'art 3', 'arts 1', 'art 4', 'art 5']

Her Excellency the Governor General recommends to the House of Commons the appropriation of public revenue under the circumstances, in the manner and for the purposes set out in a measure entitled ``An Act to facilitate combatting the laundering of proceeds of crime, to establish the Financial Transactions and Reports Analysis Centre of Canada and to amend and repeal certain Acts in consequence''.
Part 1 of this enactment establishes specific measures to detect and deter money laundering and to facilitate the investigation and prosecution of money laundering offences. These measures include requiring financial institutions and other persons and entities that act as financial intermediaries to keep records and report suspicious financial transactions.
Part 2 of this enactment requires all persons or entities importing into Canada or exporting from Canada currency and monetary instruments of a value over a prescribed amount to file a report with the Canada Customs and Revenue Agency.
Part 3 of this enactment establishes an independent agency to be called the Financial Transactions and Reports Analysis Centre of Canada (the ``Centre'') that will receive reports made under Parts 1 and 2. The Centre will analyse and assess the reports together with other information available to it. If the Centre has reasonable grounds to suspect that the designated information would be relevant to investigating or prosecuting a money laundering offence, it shall disclose only designated information to the appropriate police force and, if specified conditions are met, to the Canada Customs and Revenue Agency, the Canadian Security Intelligence Service and the Department of Citizenship and Immigration. The Centre is also responsible for conducting research and for undertaking educational measures to inform the public, those who are required to report suspicious transactions and the law enforcement community about the nature and extent of money laundering and effective deterrence and detection measures.
Part 4 of this enactment authorizes the Governor in Council to make regulations for carrying out the purposes and provisions of the enactment.
Part 5 of this enactment creates offences for failing to report suspicious financial transactions and for the inappropriate disclosure or use of information under the control of the Centre.