Proceeds of Crime (Money Laundering) and Terrorist Financing Act

Marginal note:Regulations

• 73.1 (1) The Governor in Council may make regulations

  • (a) designating, as a violation that may be proceeded with under this Part, the contravention of a specified provision of this Act or the regulations;

  • (b) classifying each prescribed violation as a minor violation, a serious violation or a very serious violation and classifying a series of minor violations as a serious violation or a very serious violation;

  • (c) having regard to subsection (2), fixing a penalty, or a range of penalties, in respect of any prescribed violation;

  • (d) [Repealed, 2026, c. 4, s. 95]

  • (e) respecting the service of documents under this Part, including the manner and proof of service and the circumstances under which documents are deemed to be served; and

  • (f) generally for carrying out the purposes and provisions of this Part.

• Marginal note:Maximum penalties — prescribed violation

  (2) The maximum penalty for a prescribed violation is $4,000,000 if the violation is committed by a person and $20,000,000 if the violation is committed by an entity.

• Marginal note:Maximum penalties — cumulative

  (3) The maximum penalty for all the prescribed violations identified on a notice of violation taken together is

  • (a) in the case of a person, the greater of $4,000,000 and 3% of the person’s gross global income in the year before the one in which the penalty is imposed; and

  • (b) in the case of an entity, the greater of $20,000,000 and 3% of the entity’s gross global revenue in its financial year before the one in which the penalty is imposed.

• Marginal note:Gross global revenue — affiliated entities

  (4) If an entity is part of a group of entities that are affiliated, within the meaning of subsection 9.8(2), then, for the purpose of determining the maximum penalty applicable to the entity under paragraph (3)(b), the entity’s gross global revenue is deemed to be the gross global revenue of the group for the financial year before the one in which the penalty is imposed.