FINTRAC guidance

May 7, 2021 2 MIN READ

Home Insights Osler Updates

Please see below for list of links to the new and updated guidance from FINTRAC:

Guidance subject Related links
Business relationship requirements Guidance for all REs
Beneficial ownership requirements Guidance for all REs
Compliance program requirements Guidance for all REs
Correspondent banking relationship requirements Guidance for Financial Entities
Foreign branches, foreign subsidiaries and affiliates requirements Guidance for Financial Entities, Life Insurance Companies and Securities Dealers
Know your client requirements – when to verify the identity of persons and entities Accountants and Accounting Firms Departments and Agents of the Crown British Columbia Notaries Casinos Dealers in Precious Metals and Stones Financial Entities Life Insurance Companies, Brokers, Agents Money Services Businesses and Foreign Money Services Businesses Real Estate Brokers, Sales Representatives and Developers Securities Dealers
Methods to verify the identity of persons and entities Guidance for all REs
Ongoing monitoring requirements Guidance for all REs
Politically exposed persons and heads of international organizations guidance Guidance for all REs Guidance for Account-Based RE Sectors Guidance for Non-Account-Based RE Sectors Guidance for Life Insurance Companies, Brokers and Agents
Prepaid payment products and accounts Guidance for Financial Entities
Recordkeeping requirements Accountants and Accounting Firms Departments and Agents of the Crown British Columbia Notaries Casinos Dealers in Precious Metals and Stones Financial Entities Life Insurance Companies, Brokers, Agents Money Services Businesses and Foreign Money Services Businesses Real Estate Brokers, Sales Representatives and Developers Securities Dealers
Reporting terrorist property Guidance for all REs
The 24-hour rule Guidance for all REs
Third party determination requirements Guidance for all REs
Travel rule requirements Guidance for Financial Entities, Casinos, Money Services Businesses and Foreign Money Services Businesses

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