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

Regulations are current to 2019-06-20 and last amended on 2017-06-17. Previous Versions

Reporting of Financial Transactions and Record Keeping (continued)

Casinos (continued)

  •  (1) Subject to subsection 52(2), every casino shall keep a large cash transaction record in respect of every amount in cash of $10,000 or more that it receives in the course of a single transaction, unless the amount is received from a financial entity or a public body.

  • (2) For greater certainty, the transactions in respect of which a casino is required to keep large cash transaction records in accordance with subsection (1) include the following transactions involving an amount in cash of $10,000 or more:

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

    • (b) front cash deposits;

    • (c) safekeeping deposits;

    • (d) the repayment of any form of credit, including repayment by markers or counter cheques;

    • (e) bets of currency; and

    • (f) sales of the casino’s cheques.

  • SOR/2007-122, s. 44
  •  (1) Every casino shall report to the Centre the disbursement of $10,000 or more in the course of any of the following transactions, together with the information set out in Schedule 8:

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

    • (b) front cash withdrawals;

    • (c) safekeeping withdrawals;

    • (d) advances on any form of credit, including advances by markers or counter cheques;

    • (e) payments on bets, including slot jackpots;

    • (f) payments to a client of funds received for credit to that client or any other client;

    • (g) the cashing of cheques or other negotiable instruments; and

    • (h) reimbursements to clients of travel and entertainment expenses.

  • (2) For the purpose of subsection (1), two or more disbursements of less than $10,000 each that are made within 24 consecutive hours and that together total $10,000 or more are considered to be a single transaction of $10,000 or more if an employee or a senior officer of the casino knows that the disbursements are received by, or on behalf of, the same person or entity.

  • (3) For the purpose of subsection (1), the requirement to report information set out in Schedule 8 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 casino is unable to obtain the information.

  • (4) Despite subsection (3), for the application of subsection (2), a casino is not required to report information set out in an item of Schedule 8 that is marked with an asterisk if, after taking reasonable measures to do so, the casino is unable to obtain the information.

  • SOR/2007-122, s. 45
  • SOR/2008-21, s. 8
  • SOR/2009-265, s. 8

 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.

  • SOR/2003-358, s. 9
  • SOR/2016-153, s. 31

 Subject to subsection 62(2), every casino shall keep the following records:

  • (a) with respect to every client account that it opens,

    • (i) a signature card in respect of each account holder,

    • (ii) every account operating agreement that is received or created in the normal course of business,

    • (iii) a deposit slip in respect of every deposit that is made to the account, and

    • (iv) every debit and credit memo that is received or created in the normal course of business;

  • (b) where it opens a client account in respect of a corporation, a copy of the part of the official corporate records that contains any provision relating to the power to bind the corporation in respect of the account;

  • (c) where it opens a client account in the name of a person or of an entity other than a corporation, a record of the name and address of the client and

    • (i) if the client is a person, their date of birth and the nature of their principal business or their occupation, as applicable, and

    • (ii) if the client is an entity other than a corporation, the nature of their principal business;

  • (d) with respect to every extension of credit to a client of $3,000 or more, an extension of credit record that indicates

    • (i) the client’s name and address and

      • (A) if the client is a person, their date of birth and the nature of their principal business or their occupation, as applicable, and

      • (B) if the client is an entity, the nature of their principal business,

    • (ii) the terms and conditions of the extension of credit, and

    • (iii) the date and amount of the extension of credit;

  • (e) with respect to every foreign currency exchange transaction, a transaction ticket;

  • (f) where an amount of $1,000 or more is remitted or transmitted, a record of

    • (i) if the client is a person, their name, address, date of birth and telephone number and the nature of their principal business or their occupation, as applicable,

    • (ii) if the client is an entity, the name, address, date of birth and telephone number of the person who, on behalf of the entity, requested that the transaction be initiated and the nature of that person’s principal business or their occupation, as applicable,

    • (iii) the relevant account number if any, and the reference number, if any, of the transaction and the date of the transaction,

    • (iv) the name and, if applicable, the account number of the beneficiary of the transaction, and

    • (v) the amount and currency of the transaction; and

  • (g) a copy of every report made to the Centre under subsection 42(1).

  • SOR/2007-122, s. 46
  • SOR/2007-293, s. 18
  • SOR/2008-21, s. 9
  • SOR/2016-153, s. 32
  •  (1) Every casino that is required to report a disbursement under subsection 42(1) shall take reasonable measures to determine whether the person who in fact receives the disbursement is acting on behalf of a third party.

  • (2) Where the casino determines that the person who receives the disbursement is acting on behalf of a third party, the casino shall keep a record that sets out

    • (a) if the third party is a person, their name, address and date of birth and the nature of their principal business or their occupation, as applicable;

    • (b) if the third party is an entity, the name and address of the entity and the nature of its principal business and, if the entity is a corporation, the entity’s incorporation number and the place where it was issued; and

    • (c) the nature of the relationship between the third party and the person who receives the disbursement.

  • (3) Where the casino is not able to determine whether the person who receives the disbursement is acting on behalf of a third party, but there are reasonable grounds to suspect that they are doing so, the casino shall keep a record that

    • (a) indicates whether, according to the person, the disbursement is being received on behalf of a third party; and

    • (b) describes the grounds for suspecting that the person is acting on behalf of a third party.

  • SOR/2008-21, s. 10

Departments and Agents or Mandataries of Her Majesty in Right of Canada or of a Province

[SOR/2016-153, s. 33(E)]

Acceptance of Deposit Liabilities

 Every department and agent or mandatary of Her Majesty in right of Canada or of a province is subject to Part 1 of the Act when they accept deposit liabilities in the course of providing financial services to the public.

  • SOR/2016-153, s. 34(E)
 
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