Under Canadian law, these activities are governed by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), which came into effect in 2000, together with the SOR/2002-184 Regulations, which took effect in 2002 and formally established compliance obligations for financing and leasing entities.
These laws set out Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements to prevent fraud, money laundering, and terrorist financing by ensuring transactions are legitimate and customers are properly identified.
Please download the full compliance document for your reference.
