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ARTICLE · 05 JULY 2023

Federal Review Of AML Regime With Global Implications

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The Department of Finance Canada released a sweeping consultation paper with respect to Canada's anti-money laundering and anti-terrorist financing regime (AML/ATF regime)...

CanadaGovernment, Public Sector
AUM Law
AUM Law
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The Department of Finance Canada released a sweeping consultation paper with respect to Canada's anti-money laundering and anti-terrorist financing regime (AML/ATF regime), including potential changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and the Criminal Code. The review of the PCMLTFA is required every five years under the Act, which provides the government with an opportunity to keep the AML/ATF regime current in response to market developments. The Parliamentary Committee involved in the review will release a report that will help determine future policy measures. The consultation paper seeks input to support the development of these policy measures.

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