Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

54.1 Subject to subsections 62(1) and (2) and section 63, every financial entity shall

• (a) if the financial entity opens a credit card account in the name of a person, ascertain their identity in accordance with subsection 64(1);

• (b) where the financial entity opens a credit card account in the name of a corporation, confirm the existence of and ascertain the name and address of the corporation and the names of its directors in accordance with section 65; and

• (c) where the financial entity opens a credit card account in the name of an entity other than a corporation, confirm the existence of the entity in accordance with section 66.