Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations (SOR/2002-184)
Full Document:
- HTMLFull Document: Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations (Accessibility Buttons available) |
- XMLFull Document: Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations [797 KB] |
- PDFFull Document: Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations [1240 KB]
Regulations are current to 2025-05-05 and last amended on 2025-04-01. Previous Versions
AMENDMENTS NOT IN FORCE
— SOR/2024-266, s. 1
1 The Proceeds of Crime (Money Laundering) and Terrorist Financing RegulationsFootnote 1 are amended by adding the following after section 37:
Return to footnote 1SOR/2002-184
37.1 (1) The documents referred to in subsection 9.93(2) of the Act must be issued no more than six months before the day on which they are reviewed under subsection 9.93(1) of the Act.
(2) For the purposes of subsection 9.93(4) of the Act, a money services business must retain the documents that it obtains under subsection 9.93(1) of the Act for a period of five years after the day on which the records are obtained.
— SOR/2024-267, s. 7
7 Subsection 1(2) of the Proceeds of Crime (Money Laundering) and Terrorist Financing RegulationsFootnote 2 is amended by adding the following in alphabetical order:
Return to footnote 2SOR/2002-184
- title insurer
title insurer means a person or entity that is engaged in the business of providing title insurance, as defined in the schedule to the Insurance Companies Act. (assureur de titres)
— SOR/2024-267, s. 8
8 Paragraph 4.1(c) of the Regulations is replaced by the following:
(c) if the person or entity is a real estate broker or sales representative, a real estate developer or a title insurer, the first time that the person or entity is required to verify the identity of the client under these Regulations,
— SOR/2024-267, s. 9
9 Section 36 of the Regulations is amended by striking out “and” at the end of paragraph (i), by adding “and” at the end of paragraph (j) and by adding the following after paragraph (j):
(k) if they provide acquirer services in respect of a private automated banking machine, a record of
(i) the name, address, email address and telephone number of the owner, the lessor and the operator of the private automated banking machine, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
(ii) the name, address, email address and telephone number of the owner of the cash that is loaded into the private automated banking machine, as well as
(A) in the case of a person, their date of birth and the nature of their principal business or their occupation, and
(B) in the case of an entity, its registration or incorporation number, the jurisdiction and country of issue of that number and the nature of its principal business,
(iii) the number of the settlement account for the private automated banking machine and the name and address of each account holder, as well as
(A) in the case of a person, their date of birth and the nature of their principal business or their occupation, and
(B) in the case of an entity, its registration or incorporation number, the jurisdiction and country of issue of that number and the nature of its principal business,
(iv) the terminal identification number of the private automated banking machine,
(v) the brand, model and serial number of the private automated banking machine,
(vi) the number of bills that the private automated banking machine can contain,
(vii) the name and address of the place of business at which the private automated banking machine is located and the nature of the principal business of the place of business,
(viii) an indication of the business relationship between the owner of the cash, the owner, the lessor and the operator of the private automated banking machine and the owner of the place of business at which the machine is located,
(ix) the source of the cash that is loaded into the private automated banking machine, and
(x) the method used to transport the cash.
— SOR/2024-267, s. 10
10 Paragraph 58(1)(b) of the Regulations is replaced by the following:
(b) an information record in respect of every person or entity for which they act as an agent or mandatary in respect of the purchase or sale of real property or immovables and any party to the purchase or sale that is not represented by a real estate broker or sales representative; and
— SOR/2024-267, s. 11
11 The Regulations are amended by adding the following after section 64.6:
Title Insurers
64.7 A title insurer is engaged in a business or profession for the purposes of paragraph 5(j) of the Act when they provide a title insurance policy to the purchaser of real property or an immovable.
64.8 A title insurer must keep, in respect of every title insurance policy that they provide to the purchaser of real property or an immovable, a record of
(a) the name and address of the purchaser and, in the case of a person, their date of birth;
(b) the legal description and address of the real property or immovable;
(c) the closing date of the purchase;
(d) the purchase price;
(e) the amount of any loan secured by a mortgage on the real property or a hypothec on the immovable and the name of the lender;
(f) if known, the name of the vendor; and
(g) any title information respecting the real property or immovable that is found in the land registry in which the title to the real property or immovable is recorded.
— SOR/2024-267, s. 12
12 (1) Subsection 95(1) of the Regulations is amended by adding the following after paragraph (f):
(f.1) owns, leases or operates a private automated banking machine in respect of which they provide acquirer services;
(f.2) owns the cash that is loaded into a private automated banking machine in respect of which they provide acquirer services;
(f.3) is an account holder of a settlement account for a private automated banking machine in respect of which they provide acquirer services;
(2) Subsection 95(3) of the Regulations is amended by adding by the following after paragraph (a):
(a.01) that owns, leases or operates a private automated banking machine in respect of which they provide acquirer services;
(a.02) that owns the cash that is loaded into a private automated banking machine in respect of which they provide acquirer services;
(a.03) that is an account holder of a settlement account for a private automated banking machine in respect of which they provide acquirer services;
(3) Subsection 95(4) of the Regulations is amended by adding by the following after paragraph (a):
(a.01) that owns, leases or operates a private automated banking machine in respect of which they provide acquirer services;
(a.02) that owns the cash that is loaded into a private automated banking machine in respect of which they provide acquirer services;
(a.03) that is an account holder of a settlement account for a private automated banking machine in respect of which they provide acquirer services;
— SOR/2024-267, s. 13
13 Subsections 101(3) and (4) of the Regulations are replaced by the following:
(3) If one or more but not all of the parties to a transaction are represented by a real estate broker or sales representative, each real estate broker or sales representative shall verify the identity of the party or parties that are not represented.
— SOR/2024-267, s. 14
14 The Regulations are amended by adding the following after section 102.1:
Title Insurers
102.2 A title insurer must
(a) in accordance with section 105, verify the identity of a person who is the purchaser of real property or an immovable and to whom they provide a title insurance policy;
(b) in accordance with section 109, verify the identity of a corporation that is the purchaser of real property or an immovable and to which they provide a title insurance policy; and
(c) in accordance with section 112, verify the identity of an entity, other than a corporation, that is the purchaser of real property or an immovable and to which they provide a title insurance policy.
— SOR/2024-267, s. 15
15 (1) Subsection 105(7) of the Regulations is amended by adding the following after paragraph (h.01):
(h.02) in the cases referred to in paragraphs 95(1)(f.1) to (f.3), before the acquirer services are provided;
(2) Subsection 105(7) of the Regulations is amended by adding the following after paragraph (h.2):
(h.3) in the case referred to in paragraph 102.2(a), at the time the title insurance policy is provided;
— SOR/2024-267, s. 16
16 (1) Subsection 109(4) of the Regulations is amended by adding the following after paragraph (h.01):
(h.02) in the cases referred to in paragraphs 95(3)(a.01) to (a.03), before the acquirer services are provided;
(2) Subsection 109(4) of the Regulations is amended by striking out “and” at the end of paragraph (h.2), by adding “and” at the end of paragraph (i) and by adding the following after paragraph (i):
(j) in the case referred to in paragraph 102.2(b), at the time the title insurance policy is provided.
— SOR/2024-267, s. 17
17 The Regulations are amended by adding the following after section 109:
109.1 (1) A person or entity that is required to verify a corporation’s identity in accordance with subsection 109(1) may rely on an agent or mandatary to take the measures to do so.
(2) The person or entity may rely on measures that were previously taken by an agent or mandatary to verify the corporation’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 that was entered into, with another person or entity that is required to verify a corporation’s identity, for the purposes of verifying identity in accordance with subsection 109(1).
(3) In order to rely, under subsection (1) or (2), on measures taken by an agent or mandatary, the person or entity must
(a) have entered into a written agreement or arrangement with the agent or mandatary for the purposes of verifying a corporation’s identity in accordance with subsection 109(1);
(b) as soon as feasible, obtain from the agent or mandatary the information that the agent or mandatary referred to in order to verify the corporation’s identity and the information that the agent or mandatary confirmed as being that of the corporation; and
(c) be satisfied that the information that the agent or mandatary confirmed as being that of the corporation is valid and current and that the agent or mandatary verified the corporation’s identity in the manner described in subsection 109(1).
— SOR/2024-267, s. 18
18 (1) Subsection 112(3) of the Regulations is amended by adding the following after paragraph (h.01):
(h.02) in the cases referred to in paragraphs 95(4)(a.01) to (a.03), before the acquirer services are provided;
(2) Subsection 112(3) of the Regulations is amended by striking out “and” at the end of paragraph (h.2), by adding “and” at the end of paragraph (i) and by adding the following after paragraph (i):
(j) in the case referred to in paragraph 102.2(c), at the time the title insurance policy is provided.
— SOR/2024-267, s. 19
19 The Regulations are amended by adding the following after section 112:
112.1 (1) A person or entity that is required to verify an entity’s identity in accordance with subsection 112(1) may rely on an agent or mandatary to take the measures to do so.
(2) The person or entity may rely on measures that were previously taken by an agent or mandatary to verify the entity’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 that was entered into, with another person or entity that is required to verify an entity’s identity, for the purposes of verifying identity in accordance with subsection 112(1).
(3) In order to rely, under subsection (1) or (2), on measures taken by an agent or mandatary, the person or entity must
(a) have entered into a written agreement or arrangement with the agent or mandatary for the purposes of verifying an entity’s identity in accordance with subsection 112(1);
(b) as soon as feasible, obtain from the agent or mandatary the information that the agent or mandatary referred to in order to verify the entity’s identity and the information that the agent or mandatary confirmed as being that of the entity; and
(c) be satisfied that the information that the agent or mandatary confirmed as being that of the entity is valid and current and that the agent or mandatary verified the entity’s identity in the manner described in subsection 112(1).
— SOR/2024-267, s. 20
20 The portion of subsection 138(1) of the Regulations before paragraph (a) is replaced by the following:
138 (1) Every person or entity, other than a title insurer, that is required to verify an entity’s identity in accordance with these Regulations shall, at the time the entity’s identity is verified, obtain the following information:
— SOR/2025-68, s. 12
12 Subsection 131(3) of the Regulations is replaced by the following:
(3) For greater certainty, although items in Schedules 1 to 7 are described in the singular, a person or entity shall report all known information that falls within an item.
— SOR/2025-68, s. 13
13 Subsection 138(2) of the Regulations is replaced by the following:
(2) Every person or entity that is subject to subsection (1) shall take reasonable measures to confirm the accuracy of the information when it is first obtained under that subsection and in the course of ongoing monitoring of business relationships. In the case of information that is related to a corporation incorporated under the Canada Business Corporations Act, the person or entity shall consult information that is made available to the public under section 21.303 of that Act if they consider, based on a risk assessment referred to in subsection 9.6(2) of the Act, that there is a high risk of a money laundering offence or terrorist activity financing offence.
— SOR/2025-68, s. 14
14 The Regulations are amended by adding the following after section 138:
138.1 (1) Every person or entity that identifies a material discrepancy between the information that they obtain under paragraphs 138(1)(a) and (d) and the information that they consult in accordance with subsection 138(2) shall
(a) report the discrepancy to the Director appointed under section 260 of the Canada Business Corporations Act within 30 days after the day on which the discrepancy is identified, together with the information set out in Schedule 7; and
(b) keep a copy of any acknowledgement of receipt of the report.
(2) A person or entity is not required to report under paragraph (1)(a) if the material discrepancy is resolved within 30 days after the day on which it is identified.
(3) For the purposes of this section, a material discrepancy does not include a discrepancy that arises from
(a) an error in spelling or a minor variation in a name or address;
(b) the use of a service address in one information source and a residential address in another;
(c) the fact that information is not available to the public due to an exception or exemption under subsection 21.303(2) or (3) of the Canada Business Corporations Act; or
(d) the fact that information that is made available to the public under section 21.303 of the Canada Business Corporations Act is about persons who are not referred to in paragraph 138(1)(a) of these Regulations, or vice versa.
— SOR/2025-68, s. 15
15 (1) Subsection 152(1) of the Regulations is replaced by the following:
152 (1) The requirement to report information set out in any of Schedules 1 to 7 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.
(2) Subsection 152(3) of the Regulations is replaced by the following:
(3) For greater certainty, a person or entity is not required to report information set out in any item of Schedules 1 to 7 that is not applicable in the circumstances.
— SOR/2025-68, s. 20
20 The Regulations are amended by adding, after Schedule 6, the Schedule 7 set out in the schedule to these Regulations.
SCHEDULE 7(subsection 131(3), paragraph 138.1(1)(a) and subsections 152(1) and (3))Report with Respect to Discrepancies in Information on Beneficial Ownership or Control
PART A
Information with Respect to Reporting Person or Entity and Place of Business Where Material Discrepancy Is Identified
- 1*Person’s or entity’s name
- 2*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
- 3*Identification number assigned to person or entity by Centre
- 4*Number that identifies place of business
- 5*Address of place of business
- 6*Contact person’s name
- 7Contact person’s email address
- 8*Contact person’s telephone number
PART B
Information with Respect to Material Discrepancy
- 1*Name of reported company and identifying number on its certificate of incorporation, amalgamation or continuance
- 2*Date on which discrepancy was identified
- 3*Description of discrepancy
- Date modified: