Proceeds of Crime (Money Laundering) and Terrorist Financing Act (S.C. 2000, c. 17)

Act current to 2016-12-31 and last amended on 2015-06-23. Previous Versions

Marginal note:Disclosure

 Every person or entity that contravenes section 8

  • (a) is guilty of an offence punishable on summary conviction; or

  • (b) is guilty of an indictable offence and liable to imprisonment for a term of not more than two years.

Marginal note:Reporting — section 9
  •  (1) Every person or entity that contravenes subsection 9(1) or (3) is guilty of an offence and liable on summary conviction to a fine of not more than $500,000 for a first offence and of not more than $1,000,000 for each subsequent offence.

  • Marginal note:Reporting — section 11.43

    (2) Every person or entity that contravenes section 11.43, only insofar as it relates to any required reporting measure as contemplated by paragraph 11.42(2)(e) and specified in a directive issued under subsection 11.42(1), is guilty of an offence and liable on summary conviction to a fine of not more than $500,000 for a first offence and of not more than $1,000,000 for each subsequent offence.

  • Marginal note:Due diligence defence

    (3) No person or entity shall be convicted of an offence under subsection (1) or (2) if they establish that they exercised due diligence to prevent its commission.

  • 2000, c. 17, s. 77;
  • 2010, c. 12, s. 1880.
Marginal note:Registry

 Every person or entity that provides information to the Centre under section 11.12, 11.13, 11.14 or 11.3 and that knowingly makes any false or misleading statement or knowingly provides false or misleading information to a person responsible for carrying out functions under this Act is guilty of an offence and liable

  • (a) on summary conviction, to a fine of not more than $50,000 or to imprisonment for a term of not more than six months, or to both; or

  • (b) on conviction on indictment, to a fine of not more than $500,000 or to imprisonment for a term of not more than five years, or to both.

  • 2006, c. 12, s. 42.
Marginal note:Liability of officers and directors

 If a person or an entity commits an offence under this Act, any officer, director or agent of the person or entity who directed, authorized, assented to, acquiesced in or participated in its commission is a party to and guilty of the offence and liable on conviction to the punishment provided for the offence, whether or not the person or entity has been prosecuted or convicted.

Marginal note:Offence by employee, agent or mandatary

 In a prosecution for an offence under section 75, 77 or 77.1,

  • (a) it is sufficient proof of the offence to establish that it was committed by an employee, agent or mandatary of the accused, whether or not the employee, agent or mandatary is identified or has been prosecuted for the offence; and

  • (b) no person shall be found guilty of the offence if they establish that they exercised due diligence to prevent its commission.

  • 2000, c. 17, s. 79;
  • 2006, c. 12, s. 43.
Marginal note:Exemption

 A peace officer or a person acting under the direction of a peace officer is not guilty of an offence under any of sections 74 to 77 if the peace officer or person does any of the things mentioned in those sections for the purpose of investigating a money laundering offence or a terrorist activity financing offence.

  • 2000, c. 17, s. 80;
  • 2001, c. 41, s. 75.
Marginal note:Time limitation

 Proceedings under paragraph 74(1)(a), 74(2)(a), 75(1)(a) or 76(a), subsection 77(1) or (2), or paragraph 77.1(a) may be instituted within, but not after, five years after the time when the subject-matter of the proceedings arose.

  • 2000, c. 17, s. 81;
  • 2006, c. 12, s. 44;
  • 2010, c. 12, s. 1881.
Marginal note:Venue

 A complaint or information in respect of an offence under this Act may be heard, tried or determined by a court if the accused is resident or carrying on business within the territorial jurisdiction of the court although the subject-matter of the complaint or information did not arise in that territorial jurisdiction.

PART 6Transitional Provision, Consequential and Conditional Amendments, Repeal and Coming into Force

Transitional Provision

Marginal note:Regulations remain in effect

Footnote * Every regulation made under the Proceeds of Crime (money laundering) Act, chapter 26 of the Statutes of Canada, 1991, that is in force immediately before the coming into force of this Act shall be deemed to have been made under this Act and shall remain in force until it is repealed or amended pursuant to this Act.

Consequential Amendments

 [Amendments]

Conditional Amendments

 [Amendments]

Repeal

 [Repeal]

Coming into Force

Marginal note:Coming into force

Footnote * The provisions of this Act, other than section 97, come into force on a day or days to be fixed by order of the Governor in Council.

  • Return to footnote *[Note: Section 97 in force on assent June 29, 2000; sections 1 to 4, 38 and 40 to 44, subsection 45(1), sections 46 to 53, paragraphs 54 (b) to (d), subsections 55(1), (2) and (6) and sections 56 to 61, 66 to 82, 84, 85, 90 and 91 in force July 5, 2000, see SI/2000-55; sections 5, 7, 8, 10 and 11, the portion of section 54 before paragraph (b), subsections 55(3) to (5.1) and (7) and section 89 in force October 28, 2001, see SI/2001-88; sections 6 and 9, subsection 45(2) and sections 62 to 65, 83 and 98 in force June 12, 2002, see SI/2002-84; sections 12 to 37 and 39 in force January 6, 2003, see SI/2002-153; sections 86 to 88 and 92 to 96 in force March 31, 2004, see SI/2004-39.]

 
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