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virtual currency

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Red flag indicators for virtual currency transactions

On December 2, 2020, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) published guidance on money laundering (“ML”) and terrorist financing (“TF”) red flag indicators for virtual currency transactions. In Canada, businesses dealing in virtual currency are subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada).

By | 4 Minutes Read

Additional amendments to Proceeds of Crime (Money Laundering) and Terrorist Financing Act Regulations issued

On February 15, 2020, draft amending regulations (the “Draft Regulations”) were issued, proposing a number of amendments to be made to the prior amendments to the regulations (the “Regulations”) under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the “PCMLTFA”). The Draft Regulations are open for comment until March 15, 2020 and will come into force on the day they are registered.

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