Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

30 Every money services business shall keep the following records in respect of any of the activities referred to in paragraph 5(h) of the Act:

• (a) every client credit file that it creates in the normal course of business;

• (a.1) every internal memorandum that it receives or creates in the normal course of business and that concerns services provided to its clients;

• (b) where a client information record is created in respect of a client that 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 transactions with the money services business, if the copy of that part is obtained in the normal course of business;

• (c) where it receives an amount of $3,000 or more from a person or from an entity other than a financial entity in consideration of the issuance of traveller’s cheques, money orders or other similar negotiable instruments, a record of the amount received, the date it was received, the name, address and date of birth of the person who in fact gave the amount and whether the amount received was in cash, cheques, traveller’s cheques, money orders or other similar negotiable instruments;

• (d) where money orders of $3,000 or more are cashed, a record of the name, address and date of birth of the person cashing the money orders and the name of the issuer of the money orders;

• (e) 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 initiating the transaction on behalf of the entity and the nature of that person’s principal business or their occupation, as applicable,

  • (iii) the reference number and date of the transaction,

  • (iv) the name of the person or entity to whom the amount is remitted or transmitted, and

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

• (f) a transaction ticket in respect of every foreign currency exchange transaction.