Proceeds of Crime (Money Laundering) and Terrorist Financing Act

Marginal note:Reporting — section 9

• 77 (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:Due diligence defence

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