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

Regulations are current to 2020-11-02 and last amended on 2020-06-01. Previous Versions

AMENDMENTS NOT IN FORCE

  • — SOR/2019-240, s. 1, as amended by SOR/2020-112, s. 1

      • 1 (1) The definitions accountant, accounting firm, British Columbia notary corporation, British Columbia notary public, CICA Handbook, credit union central, dealer in precious metals and stones, electronic funds transfer, financial entity, financial services cooperative, jewellery, life insurance broker or agent, precious metal, precious stones, real estate broker or sales representative, real estate developer, SWIFT and trust company in subsection 1(2) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Suspicious Transaction Reporting RegulationsFootnote 1 are repealed.

      • (2) The definition funds in subsection 1(2) of the Regulations is replaced by the following:

        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)

      • (3) The definition cash in subsection 1(2) of the English version of the Regulations is replaced by the following:

        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)

      • (4) Subsection 1(2) of the Regulations is amended by adding the following in alphabetical order:

        fiat currency

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

        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)

  • — SOR/2019-240, s. 2

    • 2 Sections 1.2 to 8 of the Regulations are replaced by the following:

      Report Under Section 7 of the Act

  • — SOR/2019-240, s. 4

    • 4 The heading before section 10 and sections 10 to 12.3 of the Regulations are replaced by the following:

      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.

  • — SOR/2019-240, s. 5

    • 5 The heading before section 13 of the English version of the Regulations is replaced by the following:

      Designated Information

  • — SOR/2019-240, ss. 6(4) to (8)

      • 6 (4) The portion of paragraph 13(b) of the English version of the Regulations before subparagraph (i) is replaced by the following:

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

      • (5) Subparagraphs 13(b)(i) to (iii) of the Regulations are replaced by the following:

        • (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,

      • (6) Subparagraphs 13(b)(iv) to (vi) of the English version of the Regulations are replaced by the following:

        • (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,

      • (7) Subparagraphs 13(b)(viii) and (ix) of the Regulations are replaced by the following:

        • (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

      • (8) Paragraph 13(c) of the Regulations is replaced by the following:

        • (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.

  • — SOR/2019-240, s. 7

    • 7 Schedule 1 to the Regulations is amended by replacing the references after the heading “SCHEDULE 1” with the following:

      (Subsection 9(1) and section 11)
  • — SOR/2019-240, s. 8

    • 8 Part A of Schedule 1 to the Regulations is replaced by the following:

      PART AInformation with Respect to Reporting Person or Entity and Place of Business Where Transaction Is Conducted or Attempted

      • 1* 
        Person’s or entity’s name
      • 2* 
        Type of person or entity, as described in any of paragraphs 5(a) to (h.1), (k) and (m) of the Act, or, if person or entity is referred to in paragraph 5(i), (j) or (l) of the Act, type of prescribed business, profession or activity referred to in that paragraph
      • 3* 
        Identification number assigned to person or entity by Centre
      • 4* 
        Number that identifies place of business
      • 5* 
        Address of place of business
      • 6* 
        Contact person’s name
      • 7 
        Contact person’s email address
      • 8* 
        Contact person’s telephone number
  • — SOR/2019-240, s. 9

    • 9 The heading of Part B of Schedule 1 to the Regulations is replaced by the following:

      Information with Respect to Transaction or Attempted Transaction

  • — SOR/2019-240, s. 10

    • 10 Items 3 to 9 of Part B of Schedule 1 to the Regulations are replaced by the following:

      • 3 
        Posting date, if different from date of transaction or attempted transaction
      • 4* 
        Type and amount of funds or other assets involved, other than virtual currency
      • 5* 
        Type and amount of each fiat currency or virtual currency involved
      • 6* 
        Method by which transaction or attempted transaction conducted
      • 7* 
        Exchange rates used
      • 8* 
        In the case of transaction or attempted transaction involving virtual currency, transaction identifiers, including sending and receiving addresses
      • 9* 
        Indication of whether transaction completed
      • 10* 
        If transaction not completed, reason why not completed
      • 11 
        Purpose of transaction or attempted transaction
      • 12 
        Source of funds or virtual currency involved
      • 13 
        Name of every person or entity that is source of funds or virtual currency involved and their account number or policy number or, if no account number or policy number, identifying number
      • 14* 
        Following details of remittance of, or in exchange for, funds or virtual currency received:
        • (a) 
          method of remittance
        • (b) 
          if remittance is in funds, type and amount of each type of funds involved
        • (c) 
          if remittance is in virtual currency, type and amount of each virtual currency involved
        • (d) 
          if remittance is not in funds or virtual currency, type of remittance and its value, if different from amount of funds or virtual currency received
        • (e) 
          name of every person or entity involved and their account number or policy number or, if no account number or policy number, identifying number
  • — SOR/2019-240, s. 11

    • 11 Parts C to F of Schedule 1 to the Regulations are replaced by the following:

      PART CAccount and Reference Number Information

      • 1* 
        Every account number and other equivalent reference number connected to transaction or attempted transaction
      • 2* 
        Type of account
      • 3* 
        Branch number, institution number and similar numbers connected to account or reference number
      • 4* 
        Name of each account holder
      • 5* 
        Type of fiat currency or virtual currency of account
      • 6 
        Date account opened
      • 7 
        Date account closed
      • 8* 
        Status of account

      PART DInformation with Respect to Person or Entity That Conducts or Attempts To Conduct Transaction

      • 1 
        Person’s or entity’s name
      • 2 
        Person’s or entity’s address
      • 3 
        Person’s or entity’s email address
      • 4 
        Person’s or entity’s telephone number
      • 5 
        Person’s or entity’s URL
      • 6 
        Nature of person’s or entity’s principal business or their occupation
      • 7* 
        Identification number assigned to person or entity by reporting person or entity
      • 8 
        Type of document or other information used to identify person or entity, or to verify their identity under the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations, and number of document or number associated with information
      • 9 
        Jurisdiction and country of issue of document or other information
      • 10 
        Type of device used by person or entity that conducts or attempts to conduct transaction online
      • 11 
        Number that identifies device
      • 12 
        Internet Protocol address used by device
      • 13 
        Person’s or entity’s user name
      • 14 
        Date and time of person’s or entity’s online session in which transaction conducted or attempted
      • 15 
        In the case of a person,
        • (a) 
          their alias
        • (b) 
          their date of birth
        • (c) 
          their country of residence
        • (d) 
          their citizenship
        • (e) 
          their employer’s name
        • (f) 
          their employer’s business address
        • (g) 
          their employer’s business telephone number
      • 16 
        In the case of an entity,
        • (a) 
          name of each person — up to three — who is authorized to bind entity or to act with respect to account
        • (b) 
          its registration or incorporation number and jurisdiction and country of issue of that number
        • (c) 
          information respecting ownership, control and structure of entity
        • (d) 
          name of each person who directly or indirectly owns or controls 25% or more of entity
        • (e) 
          if entity is a corporation,
          • (i) 
            name of each director
          • address of each director
          • telephone number of each director
          • name of each person who directly or indirectly owns or controls 25% or more of shares of corporation
        • (f) 
          if entity is a trust
          • (i) 
            name of each trustee
          • address of each trustee
          • telephone number of each trustee
          • name of each settlor of trust
          • (v) 
            address of each settlor of trust
          • telephone number of each settlor of trust
          • name of each beneficiary of trust, other than widely held or publicly traded trust
          • address of each beneficiary of trust, other than widely held or publicly traded trust
          • telephone number of each beneficiary of trust, other than widely held or publicly traded trust
          • (x) 
            name of each person who directly or indirectly owns or controls 25% or more of units of widely held or publicly traded trust
          • address of each person who directly or indirectly owns or controls 25% or more of units of widely held or publicly traded trust
          • telephone number of each person who directly or indirectly owns or controls 25% or more of units of widely held or publicly traded trust

      PART EInformation with Respect to Person or Entity on Whose Behalf Transaction Is Conducted or Attempted

      • 1 
        Person’s or entity’s name
      • 2 
        Person’s or entity’s address
      • 3 
        Person’s or entity’s email address
      • 4 
        Person’s or entity’s telephone number
      • 5 
        Person’s or entity’s URL
      • 6 
        Nature of person’s or entity’s principal business or their occupation
      • 7 
        Identification number assigned to person or entity by reporting person or entity
      • 8 
        Type of document or other information used to identify person or entity, or to verify their identity under the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations, and number of document or number associated with information
      • 9 
        Jurisdiction and country of issue of document or other information
      • 10 
        Relationship of person or entity to person or entity conducting or attempting to conduct transaction
      • 11 
        In the case of a person,
        • (a) 
          their alias
        • (b) 
          their date of birth
        • (c) 
          their country of residence
        • (d) 
          their citizenship
        • (e) 
          their employer’s name
        • (f) 
          their employer’s business address
        • (g) 
          their employer’s business telephone number
      • 12 
        In the case of an entity,
        • (a) 
          name of each person — up to three — who is authorized to bind entity or to act with respect to account
        • (b) 
          its registration or incorporation number and jurisdiction and country of issue of that number
        • (c) 
          information respecting ownership, control and structure of entity
        • (d) 
          name of each person who directly or indirectly owns or controls 25% or more of entity
        • (e) 
          if entity is a corporation,
          • (i) 
            name of each director
          • address of each director
          • telephone number of each director
          • name of each person who directly or indirectly owns or controls 25% or more of shares of corporation
        • (f) 
          if entity is a trust
          • (i) 
            name of each trustee
          • address of each trustee
          • telephone number of each trustee
          • name of each settlor of trust
          • (v) 
            address of each settlor of trust
          • telephone number of each settlor of trust
          • name of each beneficiary of trust, other than widely held or publicly traded trust
          • address of each beneficiary of trust, other than widely held or publicly traded trust
          • telephone number of each beneficiary of trust, other than widely held or publicly traded trust
          • (x) 
            name of each person who directly or indirectly owns or controls 25% or more of units of widely held or publicly traded trust
          • address of each person who directly or indirectly owns or controls 25% or more of units of widely held or publicly traded trust
          • telephone number of each person who directly or indirectly owns or controls 25% or more of units of widely held or publicly traded trust

      PART FInformation with Respect to Beneficiary

      • 1* 
        Beneficiary’s name
      • 2 
        Beneficiary’s address
      • 3 
        Beneficiary’s email address
      • 4 
        Beneficiary’s telephone number
      • 5 
        Nature of beneficiary’s principal business or their occupation
      • 6 
        Identification number assigned to beneficiary by reporting person or entity
      • 7 
        Type of document or other information used to identify beneficiary, or to verify their identity, and number of document or number associated with information
      • 8 
        Jurisdiction and country of issue of document or other information
      • 9 
        User name of beneficiary that receives payment online
      • 10 
        If beneficiary is a person,
        • (a) 
          their alias
        • (b) 
          their date of birth
        • (c) 
          their country of residence
        • (d) 
          their employer’s name
      • 11 
        If beneficiary is an entity,
        • (a) 
          name of each person — up to three — who is authorized to bind entity or to act with respect to account
        • (b) 
          its registration or incorporation number and jurisdiction and country of issue of that number
  • — SOR/2019-240, s. 12

    • 12 Item 1 of Part G of Schedule 1 to the Regulations is replaced by the following:

      • 1* 
        Detailed description of grounds to suspect that transaction or attempted transaction is related to commission or attempted commission of money laundering offence or terrorist activity financing offence
  • — SOR/2019-240, s. 13

    • 13 The heading of Part H to Schedule 1 to the Regulations is replaced by the following:

      Action Taken

  • — SOR/2019-240, s. 14

    • 14 Schedule 2 to the Regulations is amended by replacing the references after the heading “SCHEDULE 2” with the following:

      (Subsections 10(1) and 11(1) and (3) to (5))
  • — SOR/2019-240, s. 15

    • 15 Part A of Schedule 2 to the Regulations is replaced by the following:

      PART AInformation With Respect to Reporting Person or Entity and Place of Business Where Transaction Is Conducted or Proposed To Be Conducted

      • 1* 
        Person’s or entity’s name
      • 2* 
        Type of person or entity, as described in any of paragraphs 5(a) to (h.1) and (k) of the Act, or, if person or entity is referred to in paragraph 5(i), (j) or (l) of the Act, type of prescribed business, profession or activity referred to in that paragraph
      • 3 
        Identification number assigned to person or entity by Centre
      • 4* 
        Number that identifies place of business
      • 5* 
        Address of place of business
      • 6* 
        Contact person’s name
      • 7 
        Contact person’s email address
      • 8* 
        Contact person’s telephone number
  • — SOR/2019-240, s. 16

    • 16 The heading of Part B of Schedule 2 to the English version of the Regulations is replaced by the following:

      Reason for Filing Report

  • — SOR/2019-240, s. 17

    • 17 Item 1 of Part B of Schedule 2 to the English version of the Regulations is replaced by the following:

      • 1* 
        Reason for filing report
  • — SOR/2019-240, s. 18

    • 18 Items 2 to 8 of Part B of Schedule 2 to the Regulations are replaced by the following:

      • 2* 
        Indication of how reporting person or entity came to know that property in question owned or controlled by or on behalf of terrorist group or listed person
      • 3* 
        Indication of how reporting person or entity identified terrorist group or listed person
      • 4* 
        Name of terrorist group or listed person
      • 5 
        Address of terrorist group or listed person
      • 6 
        Telephone number of terrorist group or listed person
      • 7* 
        Name of person or entity that owns or controls the property on behalf of terrorist group or listed person
      • 8* 
        Person’s or entity’s address
      • 9 
        Person’s or entity’s email address
      • 10 
        Person’s or entity’s telephone number
      • 11 
        Person’s or entity’s URL
  • — SOR/2019-240, s. 19

    • 19 The heading of Part C of Schedule 2 to the Regulations is replaced by the following:

      Information with Respect to Property

  • — SOR/2019-240, s. 20

    • 20 Items 2 and 3 of Part C of Schedule 2 to the Regulations are replaced by the following:

      • 2* 
        Means used to identify property and every number of, or associated with, that property
  • — SOR/2019-240, s. 21

    • 21 Parts D to H of Schedule 2 to the Regulations are replaced by the following:

      PART DInformation with Respect to Transaction or Proposed Transaction

      • 1* 
        Date of transaction or proposed transaction or night deposit indicator
      • 2* 
        Time of transaction or proposed transaction
      • 3 
        Posting date, if different from date of transaction or proposed transaction
      • 4* 
        Type and amount or value of funds or other assets involved, other than virtual currency
      • 5* 
        Type and amount of each fiat currency or virtual currency involved
      • 6* 
        Method by which transaction conducted or proposed to be conducted
      • 7 
        Exchange rates used
      • 8* 
        In the case of a transaction or proposed transaction involving virtual currency, transaction identifiers, including sending and receiving addresses
      • 9 
        Purpose of transaction or proposed transaction
      • 10 
        Source of funds or virtual currency involved
      • 11* 
        Name of every person or entity that is source of funds or virtual currency involved and their account number or policy number or, if no account number or policy number, identifying number
      • 12* 
        Following details of remittance of, or in exchange for, funds, virtual currency or other assets received:
        • (a) 
          method of remittance
        • (b) 
          if remittance is in funds, type and amount of each type of funds involved
        • (c) 
          if remittance is in virtual currency, type and amount of each virtual currency involved
        • (d) 
          if remittance is not in funds or virtual currency, type of remittance and its value, if different from amount of funds, virtual currency or other assets received
        • (e) 
          name of every person or entity involved and their account number or policy number or, if no account number or policy number, identifying number

      PART EAccount and Reference Number Information

      • 1* 
        Every account number or other equivalent reference number connected to transaction or proposed transaction
      • 2* 
        Type of account
      • 3* 
        Branch number, institution number and similar numbers connected to account or reference number
      • 4* 
        Name of each account holder
      • 5* 
        Type of fiat currency or virtual currency of account
      • 6 
        Date account opened
      • 7 
        Date account closed
      • 8* 
        Status of account

      PART FInformation with Respect to Person or Entity That Conducts or Proposes To Conduct Transaction

      • 1 
        Person’s or entity’s name
      • 2 
        Person’s or entity’s address
      • 3 
        Person’s or entity’s email address
      • 4 
        Person’s or entity’s telephone number
      • 5 
        Person’s or entity’s URL
      • 6 
        Nature of person’s or entity’s principal business or their occupation
      • 7 
        Identification number assigned to person or entity by reporting person or entity
      • 8 
        Type of document or other information used to identify person or entity, or to verify their identity under the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations, and number of document or number associated with information
      • 9 
        Jurisdiction and country of issue of document or other information
      • 10 
        Type of device used by person or entity that conducts transaction online
      • 11 
        Number that identifies device
      • 12 
        Internet Protocol address used by device
      • 13 
        Person’s or entity’s user name
      • 14 
        Date and time of person’s or entity’s online session in which transaction is conducted
      • 15 
        In the case of a person,
        • (a) 
          their alias
        • (b) 
          their date of birth
        • (c) 
          their country of residence
        • (d) 
          their citizenship
        • (e) 
          their employer’s name
        • (f) 
          their employer’s business address
        • (g) 
          their employer’s business telephone number
      • 16 
        In the case of an entity,
        • (a) 
          name of each person — up to three — who is authorized to bind entity or to act with respect to account
        • (b) 
          its registration or incorporation number and jurisdiction and country of issue of that number
        • (c) 
          information respecting ownership, control and structure of entity
        • (d) 
          name of each person who directly or indirectly owns or controls 25% or more of entity
        • (e) 
          if entity is a corporation,
          • (i) 
            name of each director
          • address of each director
          • telephone number of each director
          • name of each person who directly or indirectly owns or controls 25% or more of shares of corporation
        • (f) 
          if entity is a trust
          • (i) 
            name of each trustee
          • address of each trustee
          • telephone number of each trustee
          • name of each settlor of trust
          • (v) 
            address of each settlor of trust
          • telephone number of each settlor of trust
          • name of each beneficiary of trust, other than widely held or publicly traded trust
          • address of each beneficiary of trust, other than widely held or publicly traded trust
          • telephone number of each beneficiary of trust, other than widely held or publicly traded trust
          • (x) 
            name of each person who directly or indirectly owns or controls 25% or more of units of widely held or publicly traded trust
          • address of each person who directly or indirectly owns or controls 25% or more of units of widely held or publicly traded trust
          • telephone number of each person who directly or indirectly owns or controls 25% or more of units of widely held or publicly traded trust

      PART GInformation with Respect to Person or Entity on Whose Behalf Transaction Is Conducted or Proposed To Be Conducted

      • 1 
        Person’s or entity’s name
      • 2 
        Person’s or entity’s address
      • 3 
        Person’s or entity’s email address
      • 4 
        Person’s or entity’s telephone number
      • 5 
        Person’s or entity’s URL
      • 6 
        Nature of person’s or entity’s principal business or their occupation
      • 7 
        Identification number assigned to person or entity by reporting person or entity
      • 8 
        Type of document or other information used to identify person or entity, or to verify their identity under the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations, and number of document or number associated with information
      • 9 
        Jurisdiction and country of issue of document or other information
      • 10 
        Relationship of person or entity to person or entity conducting or proposing to conduct transaction
      • 11 
        In the case of a person,
        • (a) 
          their alias
        • (b) 
          their date of birth
        • (c) 
          their country of residence
        • (d) 
          their citizenship
        • (e) 
          their employer’s name
        • (f) 
          their employer’s business address
        • (g) 
          their employer’s business telephone number
      • 12 
        In the case of an entity,
        • (a) 
          name of each person — up to three — who is authorized to bind entity or to act with respect to account
        • (b) 
          its registration or incorporation number and jurisdiction and country of issue of that number
        • (c) 
          information respecting ownership, control and structure of entity
        • (d) 
          name of each person who directly or indirectly owns or controls 25% or more of entity
        • (e) 
          if entity is a corporation,
          • (i) 
            name of each director
          • address of each director
          • telephone number of each director
          • name of each person who directly or indirectly owns or controls 25% or more of shares of corporation
        • (f) 
          if entity is a trust,
          • (i) 
            name of each trustee
          • address of each trustee
          • telephone number of each trustee
          • name of each settlor of trust
          • (v) 
            address of each settlor of trust
          • telephone number of each settlor of trust
          • name of each beneficiary of trust, other than widely held or publicly traded trust
          • address of each beneficiary of trust, other than widely held or publicly traded trust
          • telephone number of each beneficiary of trust, other than widely held or publicly traded trust
          • (x) 
            name of each person who directly or indirectly owns or controls 25% or more of units of widely held or publicly traded trust
          • address of each person who directly or indirectly owns or controls 25% or more of units of widely held or publicly traded trust
          • telephone number of each person who directly or indirectly owns or controls 25% or more of units of widely held or publicly traded trust
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