Regulations Amending Certain Regulations Made Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act: SOR/2024-267

Canada Gazette, Part II, Volume 159, Number 1

Registration
SOR/2024-267 December 16, 2024

PROCEEDS OF CRIME (MONEY LAUNDERING) AND TERRORIST FINANCING ACT

P.C. 2024-1323 December 16, 2024

Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, makes the annexed Regulations Amending Certain Regulations Made Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act under paragraphs 5(j)^{footnote a}, 11.12(1)(d)^{footnote b}, 73(1)(b)^{footnote c}, (c)^{footnote d}, (d)^{footnote c}, (j)^{footnote c} and (l)^{footnote c} and 73.1(1)(a)^{footnote e} and (b)^{footnote e} of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act ^{footnote f}.

Regulations Amending Certain Regulations Made Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act

Proceeds of Crime (Money Laundering) and Terrorist Financing Suspicious Transaction Reporting Regulations

1 (1) The definition listed person in subsection 1(2) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Suspicious Transaction Reporting Regulations ^{footnote 1} is replaced by the following:

listed person or entity

means

• (a) a terrorist group as defined in subsection 83.01(1) of the Criminal Code;
• (b) a person or entity that is the subject of an order or regulation made under the United Nations Act; or
• (c) a foreign state, as defined in section 2 of the Special Economic Measures Act, that is the subject of an order or regulation made under the United Nations Act. (personne ou entité inscrite)

(2) The definition listed person or entity in subsection 1(2) of the Regulations is amended by striking out “or” at the end of paragraph (b) and by replacing paragraph (c) with the following:

• (c) a person or entity that is the subject of an order or regulation made under the Special Economic Measures Act;
• (d) a foreign state, as defined in section 2 of the Special Economic Measures Act, that is the subject of an order or regulation made under that Act or the United Nations Act; or
• (e) a person who is the subject of an order or regulation made under section 4 of the Justice for Victims of Corrupt Foreign Officials Act (Sergei Magnitsky Law). (personne ou entité inscrite)

2 (1) Subsection 10(1) of the Regulations is replaced by the following:

10 (1) Subject to section 11, a report made under paragraph 7.1(1)(a) or (b) of the Act shall contain the information set out in Schedule 2.

(2) Subsection 10(1) of the Regulations is replaced by the following:

10 (1) Subject to section 11, a report made under section 7.1 of the Act shall contain the information set out in Schedule 2.

3 The heading of Schedule 2 to the Regulations is replaced by the following:

Listed Person or Entity Property Report

4 Items 2 to 11 of Part B of Schedule 2 to the Regulations are replaced by the following:

• 2* Indication of how reporting person or entity came to know that property in question is owned, held or controlled by or on behalf of listed person or entity
• 3* Indication of how reporting person or entity identified listed person or entity

5 Part C of Schedule 2 to the Regulations is amended by adding the following after item 5:

• 6* Name of any person or entity that owns, holds or controls property on behalf of listed person or entity
• 7 Name of any person or entity that has an interest or right in or is authorized to deal with property
• 8 Description of transactions involving property within previous six months
• 9 Identifying number of any report made under section 7 of the Act respecting property
• 10 Description of any measures taken by reporting person or entity with respect to property

6 Schedule 2 to the Regulations is amended by adding the following after Part C:

PART C.1
Information with Respect to Listed Person or Entity That Owns, Holds or Controls Property

• 1* Name of listed person or entity
• 2* Address of listed person or entity
• 3 Email address of listed person or entity
• 4 Telephone number of listed person or entity
• 5 URL of listed person or entity
• 6 Nature of principal business of listed person or entity or their occupation
• 7 Identification number assigned to listed person or entity by reporting person or entity
• 8 Type of document or other information used to identify listed person or entity, or to verify their identity under the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations, and number of document or number associated with information
• 9 Jurisdiction and country of issue of identification document or information
• 10 In the case of a person,
  • (a) their alias
  • (b) their date of birth
  • (c) their country of residence
  • (d) their country of citizenship
  • (e) their employer’s name
• 11 In the case of an entity, its registration or incorporation number and jurisdiction and country of issue of that number
• 12 With respect to a person or entity that owns, holds or controls property on behalf of listed person or entity,
  • (a) their name
  • (b) their address
  • (c) their email address
  • (d) their telephone number
  • (e) their URL

Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

7 Subsection 1(2) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations ^{footnote 2} is amended by adding the following in alphabetical order:

title insurer

means a person or entity that is engaged in the business of providing title insurance, as defined in the schedule to the Insurance Companies Act. (assureur de titres)

8 Paragraph 4.1(c) of the Regulations is replaced by the following:

• (c) if the person or entity is a real estate broker or sales representative, a real estate developer or a title insurer, the first time that the person or entity is required to verify the identity of the client under these Regulations,

9 Section 36 of the Regulations is amended by striking out “and” at the end of paragraph (i), by adding “and” at the end of paragraph (j) and by adding the following after paragraph (j):

• (k) if they provide acquirer services in respect of a private automated banking machine, a record of
  • (i) the name, address, email address and telephone number of the owner, the lessor and the operator of the private automated banking machine, the nature of their principal business or their occupation and, in the case of a person, their date of birth,
  • (ii) the name, address, email address and telephone number of the owner of the cash that is loaded into the private automated banking machine, as well as
    • (A) in the case of a person, their date of birth and the nature of their principal business or their occupation, and
    • (B) in the case of an entity, its registration or incorporation number, the jurisdiction and country of issue of that number and the nature of its principal business,
  • (iii) the number of the settlement account for the private automated banking machine and the name and address of each account holder, as well as
    • (A) in the case of a person, their date of birth and the nature of their principal business or their occupation, and
    • (B) in the case of an entity, its registration or incorporation number, the jurisdiction and country of issue of that number and the nature of its principal business,
  • (iv) the terminal identification number of the private automated banking machine,
  • (v) the brand, model and serial number of the private automated banking machine,
  • (vi) the number of bills that the private automated banking machine can contain,
  • (vii) the name and address of the place of business at which the private automated banking machine is located and the nature of the principal business of the place of business,
  • (viii) an indication of the business relationship between the owner of the cash, the owner, the lessor and the operator of the private automated banking machine and the owner of the place of business at which the machine is located,
  • (ix) the source of the cash that is loaded into the private automated banking machine, and
  • (x) the method used to transport the cash.

10 Paragraph 58(1)(b) of the Regulations is replaced by the following:

• (b) an information record in respect of every person or entity for which they act as an agent or mandatary in respect of the purchase or sale of real property or immovables and any party to the purchase or sale that is not represented by a real estate broker or sales representative; and

11 The Regulations are amended by adding the following after section 64.6:

Title Insurers

64.7 A title insurer is engaged in a business or profession for the purposes of paragraph 5(j) of the Act when they provide a title insurance policy to the purchaser of real property or an immovable.

64.8 A title insurer must keep, in respect of every title insurance policy that they provide to the purchaser of real property or an immovable, a record of

• (a) the name and address of the purchaser and, in the case of a person, their date of birth;
• (b) the legal description and address of the real property or immovable;
• (c) the closing date of the purchase;
• (d) the purchase price;
• (e) the amount of any loan secured by a mortgage on the real property or a hypothec on the immovable and the name of the lender;
• (f) if known, the name of the vendor; and
• (g) any title information respecting the real property or immovable that is found in the land registry in which the title to the real property or immovable is recorded.

12 (1) Subsection 95(1) of the Regulations is amended by adding the following after paragraph (f):

• (f.1) owns, leases or operates a private automated banking machine in respect of which they provide acquirer services;
• (f.2) owns the cash that is loaded into a private automated banking machine in respect of which they provide acquirer services;
• (f.3) is an account holder of a settlement account for a private automated banking machine in respect of which they provide acquirer services;

(2) Subsection 95(3) of the Regulations is amended by adding by the following after paragraph (a):

• (a.01) that owns, leases or operates a private automated banking machine in respect of which they provide acquirer services;
• (a.02) that owns the cash that is loaded into a private automated banking machine in respect of which they provide acquirer services;
• (a.03) that is an account holder of a settlement account for a private automated banking machine in respect of which they provide acquirer services;

(3) Subsection 95(4) of the Regulations is amended by adding by the following after paragraph (a):

• (a.01) that owns, leases or operates a private automated banking machine in respect of which they provide acquirer services;
• (a.02) that owns the cash that is loaded into a private automated banking machine in respect of which they provide acquirer services;
• (a.03) that is an account holder of a settlement account for a private automated banking machine in respect of which they provide acquirer services;

13 Subsections 101(3) and (4) of the Regulations are replaced by the following:

(3) If one or more but not all of the parties to a transaction are represented by a real estate broker or sales representative, each real estate broker or sales representative shall verify the identity of the party or parties that are not represented.

14 The Regulations are amended by adding the following after section 102.1:

Title Insurers

102.2 A title insurer must

• (a) in accordance with section 105, verify the identity of a person who is the purchaser of real property or an immovable and to whom they provide a title insurance policy;
• (b) in accordance with section 109, verify the identity of a corporation that is the purchaser of real property or an immovable and to which they provide a title insurance policy; and
• (c) in accordance with section 112, verify the identity of an entity, other than a corporation, that is the purchaser of real property or an immovable and to which they provide a title insurance policy.

15 (1) Subsection 105(7) of the Regulations is amended by adding the following after paragraph (h.01):

• (h.02) in the cases referred to in paragraphs 95(1)(f.1) to (f.3), before the acquirer services are provided;

(2) Subsection 105(7) of the Regulations is amended by adding the following after paragraph (h.2):

• (h.3) in the case referred to in paragraph 102.2(a), at the time the title insurance policy is provided;

16 (1) Subsection 109(4) of the Regulations is amended by adding the following after paragraph (h.01):

• (h.02) in the cases referred to in paragraphs 95(3) (a.01) to (a.03), before the acquirer services are provided;

(2) Subsection 109(4) of the Regulations is amended by striking out “and” at the end of paragraph (h.2), by adding “and” at the end of paragraph (i) and by adding the following after paragraph (i):

• (j) in the case referred to in paragraph 102.2(b), at the time the title insurance policy is provided.

17 The Regulations are amended by adding the following after section 109:

109.1 (1) A person or entity that is required to verify a corporation’s identity in accordance with subsection 109(1) may rely on an agent or mandatary to take the measures to do so.

(2) The person or entity may rely on measures that were previously taken by an agent or mandatary to verify the corporation’s identity if the agent or mandatary was, at the time they took the measures,

• (a) acting in their own capacity, whether or not they were required to take the measures under these Regulations; or
• (b) acting as an agent or mandatary under a written agreement or arrangement that was entered into, with another person or entity that is required to verify a corporation’s identity, for the purposes of verifying identity in accordance with subsection 109(1).

(3) In order to rely, under subsection (1) or (2), on measures taken by an agent or mandatary, the person or entity must

• (a) have entered into a written agreement or arrangement with the agent or mandatary for the purposes of verifying a corporation’s identity in accordance with subsection 109(1);
• (b) as soon as feasible, obtain from the agent or mandatary the information that the agent or mandatary referred to in order to verify the corporation’s identity and the information that the agent or mandatary confirmed as being that of the corporation; and
• (c) be satisfied that the information that the agent or mandatary confirmed as being that of the corporation is valid and current and that the agent or mandatary verified the corporation’s identity in the manner described in subsection 109(1).

18 (1) Subsection 112(3) of the Regulations is amended by adding the following after paragraph (h.01):

• (h.02) in the cases referred to in paragraphs 95(4)(a.01) to (a.03), before the acquirer services are provided;

(2) Subsection 112(3) of the Regulations is amended by striking out “and” at the end of paragraph (h.2), by adding “and” at the end of paragraph (i) and by adding the following after paragraph (i):

• (j) in the case referred to in paragraph 102.2(c), at the time the title insurance policy is provided.

19 The Regulations are amended by adding the following after section 112:

112.1 (1) A person or entity that is required to verify an entity’s identity in accordance with subsection 112(1) may rely on an agent or mandatary to take the measures to do so.

(2) The person or entity may rely on measures that were previously taken by an agent or mandatary to verify the entity’s identity if the agent or mandatary was, at the time they took the measures,

• (a) acting in their own capacity, whether or not they were required to take the measures under these Regulations; or
• (b) acting as an agent or mandatary under a written agreement or arrangement that was entered into, with another person or entity that is required to verify an entity’s identity, for the purposes of verifying identity in accordance with subsection 112(1).

(3) In order to rely, under subsection (1) or (2), on measures taken by an agent or mandatary, the person or entity must

• (a) have entered into a written agreement or arrangement with the agent or mandatary for the purposes of verifying an entity’s identity in accordance with subsection 112(1);
• (b) as soon as feasible, obtain from the agent or mandatary the information that the agent or mandatary referred to in order to verify the entity’s identity and the information that the agent or mandatary confirmed as being that of the entity; and
• (c) be satisfied that the information that the agent or mandatary confirmed as being that of the entity is valid and current and that the agent or mandatary verified the entity’s identity in the manner described in subsection 112(1).

20 The portion of subsection 138(1) of the Regulations before paragraph (a) is replaced by the following:

138 (1) Every person or entity, other than a title insurer, that is required to verify an entity’s identity in accordance with these Regulations shall, at the time the entity’s identity is verified, obtain the following information:

21 The heading of Part G of Schedule 6 to the Regulations is replaced by the following:

Information with Respect to Person or Entity That Receives Disbursement

22 Schedule 6 to the Regulations is amended by adding the following after Part G:

PART H
Information with Respect to Person or Entity on Whose Behalf Disbursement is Received

• 1* Person’s or entity’s name
• 2* Person’s or entity’s address
• 3 Person’s or entity’s email address
• 4 Person’s or entity’s telephone number
• 5 Nature of person’s or entity’s principal business or their occupation
• 6 Identification number assigned to person or entity by casino
• 7 Type of document or other information used to identify person or entity, or to verify their identity, and number of document or number associated with information
• 8 Jurisdiction and country of issue of document or other information
• 9 Relationship of person or entity to person or entity that requests disbursement
• 10* Relationship of person or entity to person or entity that receives disbursement
• 11 In the case of a person,
  • (a) their alias
  • (b) their date of birth
  • (c) their country of residence
  • (d) their employer’s name
• 12 In the case of an entity,
  • (a) name of each person — up to three — who is authorized to bind entity or to act with respect to account
  • (b) its registration or incorporation number and jurisdiction and country of issue of that number

Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations

23 Schedule 1 to the Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations ^{footnote 3} is amended by adding the following after Part C:

PART D
Information with Respect to Private Automated Banking Machines for Which Applicant Provides Acquirer Services

• 1 Name, address, email address and telephone number of owner, lessor and operator of private automated banking machine, as well as
  • (a) in the case of a person, their date of birth and nature of their principal business or their occupation
  • (b) in the case of an entity, its registration or incorporation number, jurisdiction and country of issue of that number and nature of its principal business
• 2 Name, address, email address and telephone number of owner of cash that is loaded into private automated banking machine, as well as
  • (a) in the case of a person, their date of birth and nature of their principal business or their occupation
  • (b) in the case of an entity, its registration or incorporation number, jurisdiction and country of issue of that number and nature of its principal business
• 3 Number of settlement account for private automated banking machine and name and address of each account holder, nature of their principal business or their occupation and, in the case of a person, their date of birth
• 4 Terminal identification number of private automated banking machine
• 5 Brand, model and serial number of private automated banking machine
• 6 Number of bills that private automated banking machine can contain
• 7 Name and address of place of business at which private automated banking machine is located and nature of principal business of place of business
• 8 Nature of business relationship between owner of cash, owner, lessor and operator of private automated banking machine and owner of place of business at which machine is located
• 9 Source of cash that is loaded into private automated banking machine
• 10 Method used to transport cash

Proceeds of Crime (Money Laundering) and Terrorist Financing Administrative Monetary Penalties Regulations

24 Part 2 of the schedule to the Proceeds of Crime (Money Laundering) and Terrorist Financing Administrative Monetary Penalties Regulations ^{footnote 4} is amended by adding the following after item 67.5:

Item	Column 1 Provision of Act	Column 2 Provision of Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations	Column 3 Classification of Violation
67.6	6	64.8	Minor

25 Item 102 of Part 2 of the schedule to the Regulations is repealed.

26 Part 2 of the schedule to the Regulations is amended by adding the following after item 103.1:

Item	Column 1 Provision of Act	Column 2 Provision of Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations	Column 3 Classification of Violation
103.2	6.1	102.2	Minor

Coming into Force

27 (1) Subject to subsections (2) to (4), these Regulations come into force on the day on which they are registered.

(2) Subsections 1(1) and 2(1) and sections 3 to 6 come into force on the day on which section 181 of the Budget Implementation Act, 2023, No. 1, chapter 26 of the Statutes of Canada, 2023, comes into force.

(3) Subsections 1(2) and 2(2), sections 7, 8, 10, 11, 13 and 14, subsections 15(2) and 16(2), section 17, subsection 18(2) and sections 19, 20 and 24 to 26 come into force on October 1, 2025.

(4) Sections 9 and 12, subsections 15(1), 16(1) and 18(1) and section 23 come into force on the day on which section 279 of the Fall Economic Statement Implementation Act, 2023, chapter 15 of the Statutes of Canada, 2024, comes into force.

N.B. The Regulatory Impact Analysis Statement for these Regulations appears following SOR/2024-266, Regulations Amending Certain Regulations Made Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.