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Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations (SOR/2002-184)

Regulations are current to 2021-06-28 and last amended on 2021-06-01. Previous Versions

PART 1Requirements To Report Transactions and To Keep Records (continued)

Casinos (continued)

  •  (1) A casino shall keep a large cash transaction record in respect of every amount of $10,000 or more in cash that the casino receives from a person or entity in a single transaction, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.

  • (2) For greater certainty, the transactions referred to in subsection (1) include the following:

    • (a) the sale of chips, tokens or plaques;

    • (b) a front cash deposit;

    • (c) a safekeeping deposit;

    • (d) the repayment of any form of credit, including repayment by a marker or a counter cheque;

    • (e) a bet of fiat currency; and

    • (f) a sale of the casino’s cheques.

 A casino shall keep a large virtual currency transaction record in respect of every amount of $10,000 or more in virtual currency that the casino receives from a person or entity in a single transaction, unless the amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.

  •  (1) A casino shall keep the following records in respect of every account that the casino opens:

    • (a) every signature card;

    • (b) a record of the name, address and telephone number of each account holder and of every other person who is authorized to give instructions in respect of the account, the nature of their principal business or their occupation and, in the case of a person, their date of birth;

    • (c) if an account holder is a corporation, a copy of the part of official corporate records that contains any provision relating to the power to bind the corporation in respect of the transaction or account;

    • (d) a record that sets out the intended use of the account;

    • (e) a record of every application in respect of the account;

    • (f) every account operating agreement that the casino creates or receives in respect of the account;

    • (g) a deposit slip in respect of every deposit that is made into the account; and

    • (h) every debit and credit memo that the casino creates or receives in respect of the account.

  • (2) A casino shall keep the following records in respect of every transaction that is conducted with it:

    • (a) if the casino extends credit of $3,000 or more to a person or entity, a record of

      • (i) the person’s or entity’s name and address, the nature of their principal business or their occupation and, in the case of a person, their date of birth, and

      • (ii) the terms of the extension of credit, the date on which credit was extended and the amount of credit extended;

    • (b) a foreign currency exchange transaction ticket in respect of every foreign currency exchange transaction;

    • (c) if the casino initiates an electronic funds transfer of $1,000 or more at the request of a person or entity, a record of

      • (i) the date on which the electronic funds transfer is initiated,

      • (ii) the type and amount of each type of funds that is involved in the initiation,

      • (iii) the person’s or entity’s name, address and telephone number, the nature of their principal business or their occupation and, in the case of a person, their date of birth,

      • (iv) the exchange rates used and their source,

      • (v) the name and address of each beneficiary,

      • (vi) the number of every account that is affected by the initiation, the type of account and the name of each account holder,

      • (vii) every reference number that is connected to the electronic funds transfer and has a function equivalent to that of an account number, and

      • (viii) the number of every account that is affected by the electronic funds transfer, other than those referred to in subparagraph (vi);

    • (d) if the casino sends an international electronic funds transfer of $1,000 or more that was initiated by another person or entity, a record of

      • (i) the date on which the electronic funds transfer is sent,

      • (ii) if the casino exchanges fiat currencies in the course of sending the electronic funds transfer, the type and amount of each fiat currency that is involved in the exchange,

      • (iii) the exchange rates used and their source,

      • (iv) the number of every account that is affected by the sending, the type of account and the name of each account holder, and

      • (v) every reference number that is connected to the sending and has a function equivalent to that of an account number,

      • (vi) the name, address and telephone number of the person or entity that requested the initiation of the electronic funds transfer, unless that information was not, despite the taking of reasonable measures, included with the transfer and is not otherwise known, and

      • (vii) the name and address of each beneficiary, unless that information was not, despite the taking of reasonable measures, included with the transfer and is not otherwise known;

    • (e) if the casino is the final recipient of an international electronic funds transfer of $1,000 or more, a record of

      • (i) the date on which the electronic funds transfer is finally received,

      • (ii) the type and amount of each type of funds that is involved in the final receipt,

      • (iii) the name, address and telephone number of each beneficiary, the nature of their principal business or their occupation and, in the case of a person, their date of birth,

      • (iv) the date of the remittance,

      • (v) the exchange rates used for the remittance and their source,

      • (vi) if the remittance is in funds, the type and amount of each type of funds involved,

      • (vii) if the remittance is not in funds, the type of remittance and its value, if different from the amount of funds finally received,

      • (viii) the number of every account that is affected by the final receipt or the remittance, the type of account and the name of each account holder,

      • (ix) every reference number that is connected to the electronic funds transfer and has a function equivalent to that of an account number,

      • (x) the name and address of the person or entity that requested the initiation of the electronic funds transfer, unless that information was not, despite the taking of reasonable measures, included with the transfer and is not otherwise known, and

      • (xi) the number of every account that is affected by the electronic funds transfer, other than those referred to in subparagraph (viii); and

    • (f) if the casino receives an amount of $3,000 or more from a person or entity in a single transaction, a receipt of funds record in respect of that amount, unless that amount is received from a financial entity or public body or from a person who is acting on behalf of a client that is a financial entity or public body.

 For the purposes of sections 70 to 74, 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, for a period of not more than two consecutive days at a time, a lottery scheme that includes games of roulette or card games 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.

 
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