Proceeds of Crime (Money Laundering) and Terrorist Financing Suspicious Transaction Reporting Regulations

Proceeds of Crime (Money Laundering) and Terrorist Financing Suspicious Transaction Reporting Regulations Whereas, pursuant to subsection 73(2) of the Proceeds of Crime (Money Laundering) Acta, a copy of the proposed Proceeds of Crime (Money Laundering) Suspicious Transaction Reporting Regulations was published, substantially in the form set out in the annexed Regulations, as part of the Proceeds of Crime (Money Laundering) Regulations, 2000 in the Canada Gazette, Part I, on February 17, 2001 and a reasonable opportunity was thereby given to interested persons to make representations to the Minister of Finance with respect to the proposed Regulations; S.C. 2000, c. 17 Therefore, Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 73 of the Proceeds of Crime (Money Laundering) Acta, hereby makes the annexed Proceeds of Crime (Money Laundering) Suspicious Transaction Reporting Regulations. [Repealed, SOR/2016-153, s. 1] The following definitions apply in these Regulations. accountant[Repealed, SOR/2019-240, s. 1] accounting firm[Repealed, SOR/2019-240, s. 1] Act means the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. (Loi) British Columbia notary corporation[Repealed, SOR/2019-240, s. 1] British Columbia notary public[Repealed, SOR/2019-240, s. 1] cash means coins referred to in section 7 of the Currency Act, notes issued by the Bank of Canada under the Bank of Canada Act that are intended for circulation in Canada or coins or bank notes of countries other than Canada. (espèces) cash or currency[Repealed, SOR/2002-185, s. 2] casino means a government, organization, board or operator that is referred to in any of paragraphs 5(k) to (k.3) of the Act. (casino) CICA Handbook[Repealed, SOR/2019-240, s. 1] credit union central[Repealed, SOR/2019-240, s. 1] dealer in precious metals and stones[Repealed, SOR/2019-240, s. 1] electronic funds transfer[Repealed, SOR/2019-240, s. 1] fiat currency means a currency that is issued by a country and is designated as legal tender in that country. (monnaie fiduciaire) financial entity[Repealed, SOR/2019-240, s. 1] financial services cooperative[Repealed, SOR/2019-240, s. 1] funds means cash and other fiat currencies, and securities, negotiable instruments or other financial instruments that indicate a title or right to or interest in them; or a private key of a cryptographic system that enables a person or entity to have access to a fiat currency other than cash. For greater certainty, it does not include virtual currency. (fonds) jewellery[Repealed, SOR/2019-240, s. 1] legal firm[Repealed, SOR/2003-102, s. 1] life insurance broker or agent[Repealed, SOR/2019-240, s. 1] listed person or entity means a terrorist group as defined in subsection 83.01(1) of the Criminal Code; a person or entity that is the subject of an order or regulation made under the United Nations Act; a person or entity that is the subject of an order or regulation made under the Special Economic Measures Act; a foreign state, as defined in section 2 of the Special Economic Measures Act, that is the subject of an order or regulation made under that Act or the United Nations Act; or a person who is the subject of an order or regulation made under section 4 of the Justice for Victims of Corrupt Foreign Officials Act (Sergei Magnitsky Law). (personne ou entité inscrite) money services business[Repealed, SOR/2016-153, s. 1] precious metal[Repealed, SOR/2019-240, s. 1] precious stones[Repealed, SOR/2019-240, s. 1] real estate broker or sales representative[Repealed, SOR/2019-240, s. 1] real estate developer[Repealed, SOR/2019-240, s. 1] SWIFT[Repealed, SOR/2019-240, s. 1] trust company[Repealed, SOR/2019-240, s. 1] virtual currency means a digital representation of value that can be used for payment or investment purposes that is not a fiat currency and that can be readily exchanged for funds or for another virtual currency that can be readily exchanged for funds; or a private key of a cryptographic system that enables a person or entity to have access to a digital representation of value referred to in paragraph (a). (monnaie virtuelle) 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. [Repealed, SOR/2019-240, s. 2] Subject to section 11, a report made under section 7 of the Act concerning a financial transaction or attempted financial transaction in respect of which there are reasonable grounds to suspect that the transaction or attempted transaction is related to the commission of a money laundering offence, a terrorist activity financing offence or a sanctions evasion offence shall contain the information set out in Schedule 1. The person or entity shall send the report to the Centre as soon as practicable after they have taken measures that enable them to establish that there are reasonable grounds to suspect that the transaction or attempted transaction is related to the commission of a money laundering offence, a terrorist activity financing offence or a sanctions evasion offence. Subject to section 11, a report made under section 7.1 of the Act shall contain the information set out in Schedule 2. The person or entity shall send the report to the Centre immediately. The requirement to report information set out in Schedule 1 or 2 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 person or entity is unable to obtain the information. In the case of an attempted transaction, the requirement to report information set out in Schedule 1 does not apply in respect of information set out in an item of that Schedule that is marked with an asterisk if, after taking reasonable measures to do so, the person or entity is unable to obtain the information. The requirement to report information set out in Schedule 1 or 2 does not apply if the person or entity believes that taking the reasonable measures to obtain the information would inform a person or entity that conducts or attempts or proposes to conduct a transaction with them that the transaction and related information will be reported under section 7 or 7.1 of the Act. For greater certainty, although items in Schedules 1 and 2 are described in the singular, a person or entity shall report all known information that falls within an item. For greater certainty, a person or entity is not required to report information set out in any item of Schedule 1 or 2 that is not applicable in the circumstances. A report shall be sent electronically in accordance with guidelines that are prepared by the Centre, if the sender has the technical capabilities to do so. If the sender does not have the technical capabilities to send the report electronically, the report shall be sent in paper format in accordance with guidelines that are prepared by the Centre. A person or entity that sends a report to the Centre shall keep a copy of the report for a period of at least five years after the day on which the report is sent. The copy of the report may be kept in a machine-readable or electronic form if a paper copy can be readily produced from it. For greater certainty, if the copy is the property of a person’s employer or of a person or entity with which the person is in a contractual relationship, the person is not required to keep it after the end of their employment or the contractual relationship. [Repealed, SOR/2019-240, s. 4] The information that is prescribed as designated information for the purposes of paragraphs 55(7)(f), 55.1(3)(f) and 56.1(5)(f) of the Act is the following information concerning any person or entity that is involved in the transaction, attempted transaction, importation or exportation or any person or entity acting on their behalf: their address, telephone number and email address, in the case of a person, their alias, date of birth and citizenship, in the case of a person, the number of an identification document issued to them by the federal government or a provincial government or by a foreign government that is not a municipal government, other than a document that contains their social insurance number, the issuing authority and, if available, the jurisdiction and country of issue and expiry date of the identification document, [Repealed, SOR/2019-240, s. 6] in the case of an entity that is involved in the transaction, attempted transaction, importation or exportation, the date of its registration or incorporation, its registration or incorporation number and the jurisdiction and country of issue of that number, the name and address of any person or entity on whose behalf the financial transaction or attempted financial transaction is conducted or on whose behalf the importation or exportation is carried out, and the telephone number of the place of business where the financial transaction or attempted financial transaction occurred; in the case of a financial transaction or attempted financial transaction, the following information: every account number and transit number that is involved, the name of each account holder, the number of the transaction or attempted transaction and every other reference number that is connected to the transaction or attempted transaction, the time of the transaction or attempted transaction, the type of transaction or attempted transaction, the names of the parties to the transaction or attempted transaction, the type of account, the name and address of each person who is authorized to act in respect of the account, and the type of report, as listed in paragraph 54(1)(a) of the Act, from which the information disclosed is compiled; and in the case of an importation or exportation of fiat currency or monetary instruments, the country from which they are being imported or the country to which they are being exported. Person’s or entity’s name Type of person or entity, as described in any of paragraphs 5(a) to (h.1), (k) and (m) of the Act, or, if person or entity is referred to in paragraph 5(i), (j) or (l) of the Act, type of prescribed business, profession or activity referred to in that paragraph Identification number assigned to person or entity by Centre Number that identifies place of business Address of place of business Contact person’s name Contact person’s email address Contact person’s telephone number Date of transaction or attempted transaction or night deposit indicator Time of transaction or attempted transaction Posting date, if different from date of transaction or attempted transaction Type and amount of funds or other assets involved, other than virtual currency Type and amount of each fiat currency or virtual currency involved Method by which transaction or attempted transaction conducted Exchange rates used In the case of transaction or attempted transaction involving virtual currency, transaction identifiers, including sending and receiving addresses Indication of whether transaction completed If transaction not completed, reason why not completed Purpose of transaction or attempted transaction Source of funds or virtual currency involved Name of every person or entity that is source of funds or virtual currency involved and their account number or policy number and name of the person or entity with which the account or policy is held or, if no account number or policy number, identifying number and name of the person or entity that issued it Following details of remittance of, or in exchange for, funds or virtual currency received: method of remittance if remittance is in funds, type and amount of each type of funds involved if remittance is in virtual currency, type and amount of each virtual currency involved if remittance is not in funds or virtual currency, type of remittance and its value, if different from amount of funds or virtual currency received name of every person or entity involved and their account number or policy number and name of the person or entity with which the account or policy is held or, if no account number or policy number, identifying number and name of the person or entity that issued it Every account number and other equivalent reference number connected to transaction or attempted transaction Name of person or entity with which the account is held or of person or entity that issued the reference number Type of account Branch number, institution number and similar numbers connected to account or reference number Name of each account holder Type of fiat currency or virtual currency of account Date account opened Date account closed Status of account Person’s or entity’s address Person’s or entity’s email address Person’s or entity’s telephone number Person’s or entity’s URL Nature of person’s or entity’s principal business or their occupation Identification number assigned to person or entity by reporting person or entity Type of document or other information used to identify person or entity, or to verify their identity under the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations, and number of document or number associated with information Jurisdiction and country of issue of document or other information Type of device used by person or entity that conducts or attempts to conduct transaction online Number that identifies device Internet Protocol address used by device Person’s or entity’s user name Date and time of person’s or entity’s online session in which transaction conducted or attempted In the case of a person, their alias their date of birth their country of residence their citizenship their employer’s name their employer’s business address their employer’s business telephone number In the case of an entity, name of each person — up to three — who is authorized to bind entity or to act with respect to account its registration or incorporation number and jurisdiction and country of issue of that number information respecting ownership, control and structure of entity name of each person who directly or indirectly owns or controls 25% or more of entity if entity is a corporation, name of each director address of each director telephone number of each director name of each person who directly or indirectly owns or controls 25% or more of shares of corporation if entity is a trust name of each trustee address of each trustee telephone number of each trustee name of each settlor of trust address of each settlor of trust telephone number of each settlor of trust name of each beneficiary of trust, other than widely held or publicly traded trust address of each beneficiary of trust, other than widely held or publicly traded trust telephone number of each beneficiary of trust, other than widely held or publicly traded trust name of each person who directly or indirectly owns or controls 25% or more of units of widely held or publicly traded trust address of each person who directly or indirectly owns or controls 25% or more of units of widely held or publicly traded trust telephone number of each person who directly or indirectly owns or controls 25% or more of units of widely held or publicly traded trust Relationship of person or entity to person or entity conducting or attempting to conduct transaction Beneficiary’s name Beneficiary’s address Beneficiary’s email address Beneficiary’s telephone number Nature of beneficiary’s principal business or their occupation Identification number assigned to beneficiary by reporting person or entity Type of document or other information used to identify beneficiary, or to verify their identity, and number of document or number associated with information User name of beneficiary that receives payment online If beneficiary is a person, If beneficiary is an entity, Detailed description of grounds to suspect that transaction or attempted transaction is related to the commission or attempted commission of a money laundering offence, a terrorist activity financing offence or a sanctions evasion offence Any other action taken as a result of suspicion Type of person or entity, as described in any of paragraphs 5(a) to (h.1) and (k) of the Act, or, if person or entity is referred to in paragraph 5(i), (j) or (l) of the Act, type of prescribed business, profession or activity referred to in that paragraph Reason for filing report Indication of how reporting person or entity came to know that property in question is owned, held or controlled by or on behalf of listed person or entity Indication of how reporting person or entity identified listed person or entity [Repealed, SOR/2024-267, s. 4] Type of property Means used to identify property and every number of, or associated with, that property [Repealed, SOR/2019-240, s. 20] Approximate or actual value of property Description of property Name of any person or entity that owns, holds or controls property on behalf of listed person or entity Name of any person or entity that has an interest or right in or is authorized to deal with property Description of transactions involving property within previous six months Identifying number of any report made under section 7 of the Act respecting property Description of any measures taken by reporting person or entity with respect to property Name of listed person or entity Address of listed person or entity Email address of listed person or entity Telephone number of listed person or entity URL of listed person or entity Nature of principal business of listed person or entity or their occupation Identification number assigned to listed person or entity by reporting person or entity Type of document or other information used to identify listed person or entity, or to verify their identity under the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations, and number of document or number associated with information Jurisdiction and country of issue of identification document or information their country of citizenship In the case of an entity, its registration or incorporation number and jurisdiction and country of issue of that number With respect to a person or entity that owns, holds or controls property on behalf of listed person or entity, their name their address their email address their telephone number their URL Date of transaction or proposed transaction or night deposit indicator Time of transaction or proposed transaction Posting date, if different from date of transaction or proposed transaction Type and amount or value of funds or other assets involved, other than virtual currency Method by which transaction conducted or proposed to be conducted In the case of a transaction or proposed transaction involving virtual currency, transaction identifiers, including sending and receiving addresses Purpose of transaction or proposed transaction Following details of remittance of, or in exchange for, funds, virtual currency or other assets received: if remittance is not in funds or virtual currency, type of remittance and its value, if different from amount of funds, virtual currency or other assets received Every account number or other equivalent reference number connected to transaction or proposed transaction Type of device used by person or entity that conducts transaction online Date and time of person’s or entity’s online session in which transaction is conducted Relationship of person or entity to person or entity conducting or proposing to conduct transaction if entity is a trust,