Proceeds of Crime (Money Laundering) and Terrorist Financing Suspicious Transaction Reporting Regulations (SOR/2001-317)

Interpretation

• 1 (1) [Repealed, SOR/2016-153, s. 1]

• (2) The following definitions apply in these Regulations.

  accountant

  accountant[Repealed, SOR/2019-240, s. 1]

  accounting firm

  accounting firm[Repealed, SOR/2019-240, s. 1]

  Act

  Act means the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. (Loi)

  British Columbia notary corporation

  British Columbia notary corporation[Repealed, SOR/2019-240, s. 1]

  British Columbia notary public

  British Columbia notary public[Repealed, SOR/2019-240, s. 1]

  cash

  cash means coins referred to in section 7 of the Currency Act, notes issued by the Bank of Canada under the Bank of Canada Act that are intended for circulation in Canada or coins or bank notes of countries other than Canada. (espèces)

  cash

  cash or currency[Repealed, SOR/2002-185, s. 2]

  casino

  casino means a government, organization, board or operator that is referred to in any of paragraphs 5(k) to (k.3) of the Act. (casino)

  CICA Handbook

  CICA Handbook[Repealed, SOR/2019-240, s. 1]

  credit union central

  credit union central[Repealed, SOR/2019-240, s. 1]

  dealer in precious metals and stones

  dealer in precious metals and stones[Repealed, SOR/2019-240, s. 1]

  electronic funds transfer

  electronic funds transfer[Repealed, SOR/2019-240, s. 1]

  fiat currency

  fiat currency means a currency that is issued by a country and is designated as legal tender in that country. (monnaie fiduciaire)

  financial entity

  financial entity[Repealed, SOR/2019-240, s. 1]

  financial services cooperative

  financial services cooperative[Repealed, SOR/2019-240, s. 1]

  funds

  funds means

  • (a) cash and other fiat currencies, and securities, negotiable instruments or other financial instruments that indicate a title or right to or interest in them; or

  • (b) a private key of a cryptographic system that enables a person or entity to have access to a fiat currency other than cash.

  For greater certainty, it does not include virtual currency. (fonds)

  jewellery

  jewellery[Repealed, SOR/2019-240, s. 1]

  legal firm

  legal firm[Repealed, SOR/2003-102, s. 1]

  life insurance broker or agent

  life insurance broker or agent[Repealed, SOR/2019-240, s. 1]

  listed person

  listed person has the same meaning as in section 1 of the Regulations Implementing the United Nations Resolutions on the Suppression of Terrorism. (personne inscrite)

  money services business

  money services business[Repealed, SOR/2016-153, s. 1]

  precious metal

  precious metal[Repealed, SOR/2019-240, s. 1]

  precious stones

  precious stones[Repealed, SOR/2019-240, s. 1]

  real estate broker or sales representative

  real estate broker or sales representative[Repealed, SOR/2019-240, s. 1]

  real estate developer

  real estate developer[Repealed, SOR/2019-240, s. 1]

  SWIFT

  SWIFT[Repealed, SOR/2019-240, s. 1]

  trust company

  trust company[Repealed, SOR/2019-240, s. 1]

  virtual currency

  virtual currency means

  • (a) a digital representation of value that can be used for payment or investment purposes that is not a fiat currency and that can be readily exchanged for funds or for another virtual currency that can be readily exchanged for funds; or

  • (b) a private key of a cryptographic system that enables a person or entity to have access to a digital representation of value referred to in paragraph (a). (monnaie virtuelle)

1.1 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, a lottery scheme that includes games of roulette or card games for a period of not more than two consecutive days at a time 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.

1.2 [Repealed, SOR/2019-240, s. 2]

2 [Repealed, SOR/2019-240, s. 2]

2.1 [Repealed, SOR/2019-240, s. 2]

3 [Repealed, SOR/2019-240, s. 2]

4 [Repealed, SOR/2019-240, s. 2]

5 [Repealed, SOR/2019-240, s. 2]

6 [Repealed, SOR/2019-240, s. 2]

7 [Repealed, SOR/2019-240, s. 2]

7.1 [Repealed, SOR/2019-240, s. 2]

8 [Repealed, SOR/2019-240, s. 2]

Report Under Section 7 of the Act

• 9 (1) Subject to section 11, a report made under section 7 of the Act concerning a financial transaction or attempted financial transaction in respect of which there are reasonable grounds to suspect that the transaction or attempted transaction is related to the commission of a money laundering offence, a terrorist activity financing offence or a sanctions evasion offence shall contain the information set out in Schedule 1.

• (2) The person or entity shall send the report to the Centre as soon as practicable after they have taken measures that enable them to establish that there are reasonable grounds to suspect that the transaction or attempted transaction is related to the commission of a money laundering offence, a terrorist activity financing offence or a sanctions evasion offence.

Report Under Section 7.1 of the Act

• 10 (1) Subject to section 11, a report made under section 7.1 of the Act shall contain the information set out in Schedule 2.

• (2) The person or entity shall send the report to the Centre immediately.

Reports

• 11 (1) The requirement to report information set out in Schedule 1 or 2 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.

• (2) In the case of an attempted transaction, the requirement to report information set out in Schedule 1 does not apply in respect of information set out in an item of that Schedule that is marked with an asterisk if, after taking reasonable measures to do so, the person or entity is unable to obtain the information.

• (3) The requirement to report information set out in Schedule 1 or 2 does not apply if the person or entity believes that taking the reasonable measures to obtain the information would inform a person or entity that conducts or attempts or proposes to conduct a transaction with them that the transaction and related information will be reported under section 7 or 7.1 of the Act.

• (4) For greater certainty, although items in Schedules 1 and 2 are described in the singular, a person or entity shall report all known information that falls within an item.

• (5) For greater certainty, a person or entity is not required to report information set out in any item of Schedule 1 or 2 that is not applicable in the circumstances.

12 A report shall be sent electronically in accordance with guidelines that are prepared by the Centre, if the sender has the technical capabilities to do so. If the sender does not have the technical capabilities to send the report electronically, the report shall be sent in paper format in accordance with guidelines that are prepared by the Centre.

• 12.1 (1) A person or entity that sends a report to the Centre shall keep a copy of the report for a period of at least five years after the day on which the report is sent.

• (2) The copy of the report may be kept in a machine-readable or electronic form if a paper copy can be readily produced from it.

• (3) For greater certainty, if the copy is the property of a person’s employer or of a person or entity with which the person is in a contractual relationship, the person is not required to keep it after the end of their employment or the contractual relationship.

12.2 [Repealed, SOR/2019-240, s. 4]

12.3 [Repealed, SOR/2019-240, s. 4]

Designated Information

13 The information that is prescribed as designated information for the purposes of paragraphs 55(7)(f), 55.1(3)(f) and 56.1(5)(f) of the Act is

• (a) the following information concerning any person or entity that is involved in the transaction, attempted transaction, importation or exportation or any person or entity acting on their behalf:

  • (i) their address, telephone number and email address,

  • (ii) in the case of a person, their alias, date of birth and citizenship,

  • (iii) in the case of a person, the number of an identification document issued to them by the federal government or a provincial government or by a foreign government that is not a municipal government, other than a document that contains their social insurance number, the issuing authority and, if available, the jurisdiction and country of issue and expiry date of the identification document,

  • (iii.1) [Repealed, SOR/2019-240, s. 6]

  • (iv) in the case of an entity that is involved in the transaction, attempted transaction, importation or exportation, the date of its registration or incorporation, its registration or incorporation number and the jurisdiction and country of issue of that number,

  • (v) [Repealed, SOR/2019-240, s. 6]

  • (vi) [Repealed, SOR/2019-240, s. 6]

  • (vii) the name and address of any person or entity on whose behalf the financial transaction or attempted financial transaction is conducted or on whose behalf the importation or exportation is carried out, and

  • (viii) the telephone number of the place of business where the financial transaction or attempted financial transaction occurred;

  • (ix) [Repealed, SOR/2019-240, s. 6]

• (b) in the case of a financial transaction or attempted financial transaction, the following information:

  • (i) every account number and transit number that is involved,

  • (ii) the name of each account holder,

  • (iii) the number of the transaction or attempted transaction and every other reference number that is connected to the transaction or attempted transaction,

  • (iv) the time of the transaction or attempted transaction,

  • (v) the type of transaction or attempted transaction,

  • (vi) the names of the parties to the transaction or attempted transaction,

  • (vii) the type of account,

  • (viii) the name and address of each person who is authorized to act in respect of the account, and

  • (ix) the type of report, as listed in paragraph 54(1)(a) of the Act, from which the information disclosed is compiled; and

• (c) in the case of an importation or exportation of fiat currency or monetary instruments, the country from which they are being imported or the country to which they are being exported.