Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

64.1 (1) A person or entity that is required to take measures to ascertain a person’s identity under subsection 64(1) may rely on an agent or mandatary to take those measures.

(2) The person or entity may rely on measures that were previously taken by an agent or mandatary to ascertain the person’s identity if the agent or mandatary was, at the time they took the measures,

• (a) acting in their own capacity, whether or not they were required to take the measures under these Regulations; or

• (b) acting as an agent or mandatary under a written agreement or arrangement — entered into with another person or entity that is required to take measures to ascertain a person’s identity — for the purposes of ascertaining identity under subsection 64(1).

(3) In order to rely on measures taken by an agent or mandatary under subsection (1) or (2), the person or entity shall

• (a) have entered into a written agreement or arrangement with the agent or mandatary for the purposes of ascertaining a person’s identity under subsection 64(1);

• (b) obtain from the agent or mandatary all of the information that the agent or mandatary referred to in order to ascertain the person’s identity and the information that the agent or mandatary verified as being that of the person; and

• (c) be satisfied that the information is valid and current and that the agent or mandatary ascertained the person’s identity in the manner described in one of paragraphs 64(1)(a) to (d).