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ARTICLE · 24 JUNE 2014

Changes To Canada’s AML Law Target Online Casinos

Miller Thomson
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The 2014 federal budget addressed, inter alia, Canada’s anti-money laundering and anti-terrorist financing regime.

CanadaMedia, Telecoms, IT, Entertainment
Danielle Bush
Danielle Bush
Laura Etherington
Laura Etherington
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On 11 February 2014, Canada's Minister of Finance introduced the 2014 federal budget, which, inter alia, addressed Canada's antimoney laundering and antiterrorist financing regime. In particular, the Minister stated that the application of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the 'Act') would be broadened to apply to online casinos. The stated rationale behind the proposed amendments was to strengthen Canada's anti-money laundering and anti-terrorist financing regime to improve Canada's compliance with international standards while at the same time minimising compliance burdens.

On 28 March 2014, Bill C-31, the Economic Action Plan 2014 Act, No. 1 was introduced as an Act to implement certain provisions of the budget tabled in Parliament on 11 February 2014 and Other Measures ('Bill C-31'). Bill C-31 introduced the proposed amendments to the Act1.

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