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A Guide to Canadian Money Laundering Legislation, 5th Edition

This edition will keep you abreast of the latest changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, its regulations, and FINTRAC guidelines and will serve as an affordable legal reference for reporting entities that must keep their operations and compliance programs current.
Publication Language: English
Book
$120.00
Quantity
This Product is on PreOrder
Published:
ISBN/ISSN: 9780433497141

Product details

As an active participant in international efforts to combat money laundering and terrorist financing activities, Canada has continued to revise its legislation so as to enhance the country's capacity to protect its financial system.

New author Suhuyini Abudulai updates the Fifth Edition to keep you abreast of the latest changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, its regulations, and FINTRAC guidelines and will serve as an affordable legal reference for reporting entities that must keep their operations and compliance programs current..

What's New in this Edition?
  • The 2016 amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its regulations - the electronic signature provisions took effect June 30, 2017; the new identity verification methods provisions will take effect January 24, 2018; and the remaining amendments are expected to become effective in June 2018
  • The 2016 Amendments amended the Administrative Monetary Penalties Regulations to add to and amend the list of provisions that can trigger an administrative monetary penalty for a "serious" or "various serious" violation
  • The 2017 amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act expanding the list of recipients that FINTRAC is authorized to make disclosure to in respect of security threats to include the Department of National Defence and the Canadian Armed Forces, include beneficial ownership as designated information to be disclosed to FINTRAC, and to make technical amendments to the PCMLTFA to assist in operationalizing the PCMLTFA and support compliance
  • The 2017 Amendments also expand the definition of "designated information" to include information on beneficial ownership. This requirement applies with respect to designated information that FINTRAC can disclose to a foreign state or international organization with similar powers and duties as FINTRAC
  • FINTRAC Guidelines as recently revised in June 2017
Features
  • A one-stop shop - contains governing and related legislation and guidelines
  • The law made easy - written in plain language; geared for both legal and business professionals
  • Explains law and compliance practices as applicable to various industries -
    • financial institutions
    • insurance companies
    • real estate agents and brokerages
    • government agents
    • casinos
    • precious stones businesses
Who Should Buy
  • Legal counsel or corporate/commercial lawyers who need to advise their business clients on the design and implementation of their compliance policies
  • Criminal lawyers who need to advise clients on their rights to search and seizure and privacy related issues if they happen to be the subject of suspicious transactions
  • Management staff and/or money laundering compliance officers of businesses who need to understand the law for purposes of examining reviewable transactions and providing compliance training
  • Portfolio managers and Investment counselors who need to watch out for suspicious large cash transactions and may be required to answer to reviewable transactions
  • Management staff and compliance officers of Banks & Financial Institutions who need to conduct internal investigations about suspicious money laundering activities
  • Finance directors and Accountants of businesses who are charged with record keeping and auditing responsibilities
  • Money services businesses who need to set up their fund transfer practices properly to avoid being preyed upon by hackers
Tools for Compliance

With its practical approach and informative commentary, this guide is your first point of reference when you need to understand the legislation and avoid liability for your company or your client.

Featured authors

Table of contents

Table of Contents

Commentary
  • Chapter 1: Introduction
  • Chapter 2: Financial Transactions and Reports Analysis Centre of Canada
  • Chapter 3: Application of Anti-Money Laundering, Anti-Terrorist Financing and Sanctions Laws
  • Chapter 4: Reporting Requirements
  • Chapter 5: Records
  • Chapter 6: Ascertaining Identity
  • Chapter 7: An Effective Compliance Regime
  • Chapter 8: Disclosure, Search, Seizure and Immunity
  • Chapter 9: Violations and Offences


Legislation
  • Proceeds of Crime (Money Laundering) and Terrorist Financing Act
  • Proceeds of Crime (Money Laundering) and Terrorist Financing Suspicious Transaction Reporting Regulations
  • Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations
  • Cross-border Currency and Monetary Instruments Reporting Regulations
  • Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations
  • Proceeds of Crime (Money Laundering) and Terrorist Financing Administrative Monetary Penalties Regulations
  • Regulations Implementing the United Nations
  • Resolutions on the Suppression of Terrorism
  • United Nations Al-Qaida and Taliban Regulations
  • FINTRAC Guidelines
  • Financial Action Task Force (FATF) 40 Recommendations
  • Office of the Superintendent of Financial Institutions (OSFI) Guidelilne
  • Glossary
  • Index