Guide to comply with Canada’s anti-money laundering and anti-terrorist financing legislation
Changes to the anti-money laundering and anti-terrorist financing AML/ATF requirements will impact CPAs engaged in activities covered by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). Learn about the obligations to ensure compliance.
When it comes to the PCMLTFA requirements, non-compliance runs the risk of administrative monetary penalties, criminal sanctions and serious reputational risk. That’s why it’s important that accountants engaged in relevant activities understand their specific obligations as reporting entities to perform prescribed requirements within specified timelines.
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Access our guide for insights into the AML/ATF regime and its many changes to ensure you are well-equipped to fulfill your potential obligations as required by the legislation and regulations. Learn how CPAs, as reporting entities, play an important role in preventing money laundering and terrorist financing.
Key takeaways:
- help CPAs determine if AML/ATF obligations are applicable to their activities
- inform CPAs about the requirements to comply with their obligations
- educate CPAs about the examination focus and enforcement methods by the AML/ATF regime supervisor, FINTRAC, and risks of non-compliance