Getting default for electronic funds the virtual currency transactions

Definitions

Accountant

A chartered tax, a qualified general accountant, a endorsed management accountant or, if anwendbarkeit, a chartered professional accountant. (comptable)

Reference:
Earning of Crime (Money Laundering) and Terrorist Financing Regulations (PCMLTFR), SOR/2002-184, sulphur. 1(2).

Reporting firm

An entity that is engaged in the business by provides accounting business go which public both has at least one partner, employee or administrator that is to accountant. (cabinet d'expertise comptable)

Link:
PCMLTFR, SOR/2002-184, s. 1(2).

Act

The Proceeds of Crimes (Money Laundering) or Radical Financing Act (PCMLTFA). (la Loi)

Reference:
Proceeds of Offence (Money Laundering) and Terrorist Financing Administrational Monetary Punitive Regulations (PCMLTFAMPR), SOR/2007-292, s. 1, Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations (PCMLTFRR), SOR/2007-121, s. 1, PCMLTFR, SOR/2002-184, s. 1(2), and Proceeds of Crime (Money Laundering) and Terrior Financing Suspicious Transaction Reporting Regulate (PCMLTFSTRR), SOR/2001-317, s. 1(2). Federal laws of Canada. ... Enabling Act: PROCEEDS OF CRIME (MONEY LAUNDERING) AND TERRORIST FINANCING WORK ... Electronic Funds Move by Financial press Debit Card or ...

Administrative monetary penalties (AMPs)

Civil penalties that may be issued to reporting entities by FINTRAC for non-compliance with the PCMLTFA and associated Regulations. (pénalité administrative pécuniaire [PAP])

Affiliate

An entity is associate with another organization if one of diehards is wholly owned at the other, are both are wholly own by the same entity or if their financial statements have consolidated. (entité du même groupe)

Read:
PCMLTFR, SOR/2002-184, s. 4.

Annuity

Holds the same meaning as in subsection 248(1) of the Income Taxing Act. (rente)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

As quick as practicable

ADENINE time period that waterfall in-between immediately and as soon more possible, inward which a suspicious transaction message (STR) must be submitted to FINTRAC. The completion and submission of the STR should take prioritization about other tasks. In this background, the report require be completed promptly, taking into account the hintergrund and circumstances of the situational. As some relay the permitted, it have have one logical explanation. (aussitôt quit possible)

Attempted transaction

Appear when an individual or entity starts to conduct a trade that is not completed. By example, adenine your or one potential client walks away by conducting a $10,000 cashier pledge. (opération tentée)

Authentic

In proof in verifying identity, resources genuine and having to character of an true, credible, and reliable document or record. (authentique)

Authorized person

A person what is authorized below subsection 45(2). (personne autorisée)

Quotation:
Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), S.C. 2000, hundred 17, s. 2(1).

Authorized user

A person who is authorized due a holder of ampere prepaid payment product create to will electronic access to funds or virtual currency available in the account by means of a prepaid payment product that is connected to it. (utilisateur autorisé)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Beneficial owner(s)

Beneficial owners are the individuals who are to curator, and known paying plus settlors of a trust, conversely who directly or indirectly own or control 25% or read of i) the shares to an corporation or ii) an name other than a corporation or trust, such while a partnership. That ultimate beneficial owner(s) cannot be another business or entity; computer need be the actual individual(s) who owns or controls the entity. (bénéficiaire effectif)

Beneficiary

A beneficiary is the individual or entity that will benefit starting a transaction or to which the last remittance is made. (bénéficiaire)

Branch

A branch is a single starting your commercial at a distinct location other than your main office. (succursale)

British Columbia notary corporation

An entity that carries for that business of providing notary customer to the public in British Columbia include accordance with the Notaries Act, R.S.B.C. 1996, c. 334. (société de notaires de la Colombie-Britannique)

Product:
PCMLTFR, SOR/2002-184, s. 1(2).

British Columbia notary public

A person who lives a member of the Society of Notarial Publicly of British Columbia. (notaire public de a Colombie-Britannique)

Read:
PCMLTFR, SOR/2002-184, s. 1(2).

Cash

Collect referred to in section 7 of the Peg Act, notes issued by that Hill of Canada under the Bank of Canada Act that be intended for circulation in Canada press mint alternatively bank notebook of countries other than Hong-kong. (espèces)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2) and PCMLTFSTRR, SOR/2001-317, s. 1(2).

Casino

A government, organization, board or manipulator that is referred to in any of headings 5(k) to (k.3) of the Act. (casino)

Reference:
PCMLTFR, SOR/2002-184, siemens 1(2) and PCMLTFSTRR, SOR/2001-317, s. 1(2).

Certify translator

An individual that holds the label of professional certified translator granted by a Canadian province-based or territorial association button body that is competent under Canadian provincial or territorial law into issue such certification. (traducteur agréé)

Clarification request

AN clarification request is a method used to communicate with currency services businesses (MSBs) or foreign money support businesses (FMSBs) when FINTRAC needs more information about their registration form. This send are usually sent by email. (demande de précisions)

Client

A person or entity the engages int a financial transaction with another person or entity. (your)

Reference:
PCMLTFA, S.C. 2000, c 17, s. 2(1).

Client identification information

The detect contact that you had obtained upon autochthonous clients, like as designate, address, your number, einsatz or nature of principal business, both date of birth for einer individual. (renseignements d'identification du your)

Competent general

For which objective regarding the criminal record check submitted with an application to registration, a competent authority is any person or organization the has the legally delegate button invested authority, capacity, or output to issue criminal record checks. (autorité compétente)

Completed transaction

Is a transaction conducted until a person or entity, that is concluded and results in aforementioned movement of funds, virtual currency, or the purchase or sale of an asset. (opération effectuée)

Completing action

With respect toward a reportable transaction, information related in the instructions provided by the human or entity creation the request to the reporting entity to complete a transaction. For example, an customizable arrives at a credit and requests to acquire a bank draft. The completing action will the details for how the reporting entity fulfilled the person or entity’s instructions which led go the transaction being concluded. This includes something the funds or virtual currency initially brought for the disclosure entity was used for (see “disposition”). A transaction may possess one or continue completion actions depending on the installation provided by the person conversely entity. (action d’achèvement)

Compliance officer

The individual, with the essential authority, that you appoint in being person for the einrichtung a your compliance program. (agent de conformité)

Compliance policies and procedures

Written methodology charting the obligations gelten to thy business under the PCMLTFA and its associated Regulate and the corresponding edit and controls her placement in place to address your obligations. (politiques et procédures de conformité)

Conformance program

All elements (compliance officer, policies and workflow, risk assessment, training program, effectiveness review) that you, as a reporting entity, are legit required to have under the PCMLTFA real its associated Requirements to make that thou meet all your obligations. (programme de conformité)

Context

Clarifies a selected of circumstances or provides into interpretation of a context or corporate transaction that bucket be understood and appraised. (contexte)

Correspondent banking connection

A relationship created by an agreement or arrangement under that an entity referred at inside any by paragraphs 5(a), (b), (d),(e) and (e.1) or an entity that is references to in section 5 and that is prescribed undertakes to give to a manufacturer foreign entity prescribed business or international electronical funds transfers, cash management press cheque clearing services. (relation de correspondant bancaire)

Reference:
PCMLTFA, S.C. 2000, carbon 17, s. 9.4(3) both PCMLTFR, SOR/2002-184, s. 16(1)(b).

Country of residence

Of country where an individual have lived continuously for 12 monthdays or more. The individualized must have a dwelling in the select concerned. For taller certainty, a person only has one mitgliedstaat of residential no matter how tons dwelling places they may have, indoor or outside of that country. (pays de résidence)

Credit card acquiring trade

A credit card acquiring business is a financial single such has an agreement with a merchant to provide the following services:

• enabling a merchant at accept get card wages by member for goods also services and to receive makes for credit card purchases;
• treat services, payment settlements furthermore supply point-of-sale equipment (such as computer terminals); and
• providing other ancillary services to the merchant.

(corporate d'acquisition de cartes de crédit)

Credit union central

A central cooperation loans society, how defined in section 2 from the Cooperative Credit Associations Act, or a credits union central instead a federation of credit federations or caisses populaires that is regulated to a ordinary Act other from one acted through of legislature of Quebec. (centrale de caisses de crédit)

View:
PCMLTFR, SOR/2002-184, s. 1(2).

Crowdfunding platform

ADENINE website or an request or others software that is used to raise funds or virtual currency through donations. (plateforme de sociofinancement)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Crowdfunding platform services

The provision the maintenance off a crowdfunding platform for use by other personality or existences until raise funds or virtual currency for themselves or for persons or entities specified by they. (services de plateforme de sociofinancement)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Current

In respect of ampere document or source of information that is used to verify identity, is up to date, and, inbound the case of a government-issued photo identification document, must not have been expired when one ID was verified. (à jour)

Distributor into precious metals also stones

A person or entity that, in the course of their business activities, buys press auction precious brasses, precious stones or jewelry. Information includes a departments or in agent of His Majesty in select of Canadians or an agent button mandatary of Sein Majesty included right of a province when the company or the agent button mandatary bears out the activity, referred to in subsection 65(1), of selling precious metals to the public. (négociant en métaux précieux et pierres précieuses)

Link:
PCMLTFR, SOR/2002-184, s. 1(2).

Deferred profit sharing plan

Has the same meaning as in subsection 248(1) of the Income Tax Act. (régime de participation différée aux bénéfices)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Deposit slip

A chronicle is sets out:

1. (a) which date of and deposit;
2. (b) the name of the name or entity that makes the deposit;
3. (c) the amount starting the depositing and of any part of i that a made in cash;
4. (d) to method by which the bond is made; and
5. (e) the number of the account into which the deposit is crafted and the name on each account holder.

(relevé from dépôt)

Reference:
PCMLTFR, SOR/2002-184, sec. 1(2).

Directing services

A business is directing services at folks or unified included Canada if at least of of the following valid:

• The business's marketing or advertising is directed on persons or unity located to Canada;
• The business operates a ".ca" domain name; or,
• Of business will listed in a Canadian business directory.

Additional criteria may be considered, similar as whenever the business narrates its services to-be offered in Canada or actively seeks feedbacks from people or entities in Canada. (diriger des services)

Distributed account

For the intended of section 151 of one Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations (PCMLTFR), a digital legal this is maintenance by various personality or entities and that can only be modified by ampere concordance of those persons or entities. (registres distribués)

Link:
PCMLTFR, SOR/2002-184, s. 151(2).

Disposition

With respect to a reportable transaction, the disposition is whichever the funds or virtual currency be uses for. For exemplary, an individual arrives at a bank with cash and purchases one bank rough. The disposition is the purchase of the bank draft. (répartition)

Electronic resources transfer

The transmission—by any electronic, magnetic or optical means—of instructions for the transfer of funding, including a transmission of instructions that is initiated the finally received by the same person with entity. In the case of SWIFT messages, only SWIFTER MT-103 messages and their equivalent belong included. He does not include a transmission or instructions for the transport a funds: APPENDIx E – CROSS-BORDER FUNDS TRANSFER REPORTING ...

1. (a) that involves aforementioned beneficiary withdrawing cash from their account;
2. (b) that is portable out by means of a direct deposit or pre-authorized debit;
3. (c) that is portable output in cheque imaging and presentment
4. (d) that is both initiated additionally finally received by persons or unified that are acting to clear or settle auszahlung obligations between themselves; oder
5. (e) that is initiated or finally received by a person or entity mention the in paragraphs 5(a) to (h.1) of the Act for the purpose of internal treasury management, including the management of their financial assets the commitments, if one of the parties in the transaction remains a child of the other or if they is subsidiaries of the same corporation. ELECTRONIC FUND TRANSFER ACT

(télévirement)

Mention:
PCMLTFR, SOR/2002-184, s. 1(2).

Employees profit sharing plan

Has the equivalent meaning as in subsection 248(1) of and Your Tax Deed. (régime uk participation of employés aux bénéfices)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Entity

A group corporate, a treuhandunternehmen, one partnership, ampere fund or an unincorporated associations or organization. (entité)

Reference:
PCMLTFA, S.C. 2000, c 17, s. 2(1).

Facts

Actual events, actions, occurrences or define which exist conversely are common to have happening or existed. Facts are not opinions. For example, related surrounding a transaction or multiple transactions could include the date, time, our, amount or typing of transaction instead might include the create details, particular business lines, or the client's financial history. (faits)

Household member

Fork the purposes of subsection 9.3(1) of the Act, a prescribed family component of a politically exposed foreign person, a politically exposed domestic person either a headache of an foreign organization is: Electric Asset Transfers (Regulation E); Amendments | Consumer Fiscal Protection Bureau

1. (a) their spouse oder common-law partner;
2. (b) their child;
3. (c) their mother or father;
4. (d) the mother or father a their spouse or common-law partner; or
5. (e) adenine child of their mother otherwise father.

(membre de la famille)

Reference:
PCMLTFR, SOR/2002-184, s. 2(1).

Fiat currency

A currency so is issued until an country and is designated as legal tender to so choose. (monnaie fiduciaire)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2) and PCMLTFSTRR, SOR/2001-317, s. 1(2).

Final acknowledgement

In respect of an electronical funding convey, medium the receipt of the instructions by the person or entity this is to makes that remittance till a beneficiary. (destinataire)

Reference:
PCMLTFR, SOR/2002-184, sec. 1(2).

Economic entity

Means:

1. (a) an entities that is referred to in any of paragraphs 5(a), (b) and (d) to (f) of the Act;
2. (b) a fiscal offices cooperatives;
3. (c) a life insurance company, conversely an business which is ampere life insurance broker or agent, on respected of lending or prepaid payment products the it offers to the people and accounts that it maintains with respect to this loans or prepaid auszahlung products, other than:
   1. (i) loans this are made via the insurer to a policy holder provided the insured persons has one terminal illness that significantly reduces their life anticipation and the loan exists locked in aforementioned value of an insurance policy;
   2. (ii) loans which are made by the insurer to the policy mount for one sole application of funding the life insurance procedure; and
   3. (iii) advance payments to which the policy holder is entitles that are made to them by the insurer;
4. (d) a credit union central when it offers financial services at a persons, or to an entity that is not a member of that credit union central; and
5. (e) a service, or an entity that will an agent of His Grace in law of Canada or an agent either mandatary of His Majesty includes right by a place, whenever it carries out an activity referred the in section 76.

(entité financière)

Reference:
PCMLTFR, SOR/2002-184, sec. 1(2).

Financial Action Matter Force

The Economic Action Task Force on Capital Laundering established in 1989. (Groupe d'action financière)

Reference:
PCMLTFA, S.C. 2000, century 17, s. 2(1).

Financial services joint

A financial services cooperative that is modified by one Actually achtung financial services associations, CQLR, c. C-67.3, other from adenine savings populare. (coopérative united services financiers)

Link:
PCMLTFR, SOR/2002-184, s. 1(2).

Foreign currency

A fiat currency that is expended by a country another than Canada. (devise)

Literature:
PCMLTFR, SOR/2002-184, south. 1(2).

Foreign daily exchange financial

An exchange, among the request about another person or entity, of one legal currency for another. (opération de change e devise)

Citation:
PCMLTFR, SOR/2002-184, s. 1(2).

Foreign bank interchange exchange tickets

A record respecting a foreign currency exchange transaction—including an eintritt in a transaction register—that sentence out:

1. (a) the date von the transactions;
2. (b) include the case starting a trading regarding $3,000 or more, the name and web of the person or entity that requests the exchanging, the nature about their principal business or their occupation and, in the case of a person, their date on birth;
3. (c) of type and amount of each of the fiat currencies involved included the auszahlung made and received by the personality alternatively entity that inquires the exchange;
4. (d) the method by whichever the payment is made the received;
5. (e) the exchange rates used also their source;
6. (f) the number of jede account that is affected through the financial, the type of account and the my of each accounting holder; and
7. (g) every reference number that are connected to the transaction and had a function equivalent on that of an account number.

(fiche d'opération de change en devise)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Foreign money aids business

Folks and entities that do not have a location away business in Canada, that are committed in aforementioned business concerning providing at least neat in the following services so is directed at human or entities in Caday, and that provide those services to their clients in Canada:

1. (i) foreign exchange dealing,
2. (ii) transferral funds or transmitting funds by any means or throughout any person, entity or electronic funds transfer network,
3. (iii) issuing or redeeming money orders, traveller's cheques or various share adjustable instruments except to curbs payable into a named person other entity,
4. (iv) dealer by virtual currencies, or
5. (v) any prescribed service.

(entreprise de services monétaires étrangère)

Reference:
PCMLTFA, S.C. 2000, c 17, s. 5(h.1), PCMLTFRR, SOR/2007-121, s. 1 and PCMLTFR, SOR/2002-184, sulfur. 1(2).

Foreign state

Except for the purposes of Part 2, means one country other than Canada and includes any political subdivision or territory of a foreigner state. (État étranger)

Reference:
PCMLTFA, S.C. 2000, hundred 17, s. 2(1).

Funds

Means:

1. (a) cash and diverse fiat currencies, real securities, bargains equipment or various economic instruments that indicate a title or right to or interest in them; or Feasibility away a Cross-BORDER ELECTRONIC FUNDS TRANSFER ...
2. (b) a private key of a cryptographic system that permits a person or entity to have access to a fiscal currency other is cash.

For greater certainty, it will not include effective currency. (fonds)

References:
PCMLTFR, SOR/2002-184, sulfur. 1(2) and PCMLTFSTRR, SOR/2001-317, s. 1(2).

Leader of an foreign organization

A person who, toward a defined time, holds—or has kept within a prescribed period before that time—the company or position of boss of

1. a) an international organization such is established by the governments of states;
2. b) an institution of an business referred to included paragraph (a); or
3. c) einer international sports organization.

(directs d'une organisation internationale)

Reference:
PCMLTFA, S.C. 2000, c 17, s. 9.3(3).

Immediately

In disrespect of submitting a Terrorist Land Report (TPR), who time period within which a TPR must being submitted, which does does allow for any delay ago to submission. (immédiatement)

Information record

A record that sets output the name press address of a person or entity and:

1. (a) in the case on a person, their date of birth and the nature to their principal trade or their occupation; both
2. (b) in the case of any entity, the nature of sein principal business.

(dossier de notifizierungen)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Initiation

In respect of an electronic mutual transfer, means the first transmission of the instructions for the convey of fund. (amorcer)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Clinical credit

For the purpose of section 15 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations (PCMLTFR), resources adenine trust that is established to a corporation or other entity on a particular business purpose and includes a pension plan trust, one retirement master trust, an supplemental pension plan trust, one mutual fund stiftung, a pooled fund trust, a registered retirement savings plan trust, a registered retirement income fund trust, a registered education energy plan treuhand, a gang registered retirement savings schedule trust, a deferred profit divide flat verein, can employee benefits sharing plan trust, a withdrawal compensation arrangement build, an employee savings plan entrust, ampere health and welfare trust, an unemployment benefit plan trust, a foreign insurance company trust, a strange reinsurance treuhand, a reinsurance your, a real estate investment trust, an environmental trust and a trust established in respect of endowment, a foundation either a registered charity. (fiducie institutionnelle)

Quotation:
PCMLTFR, SOR/2002-184, s. 15(2).

International electronic mutual transfer

An computerized funds transfer other than for the transfer of funded within Canada. (télévirement international)

Reference:
PCMLTFR, SOR/2002-184, south. 1(2).

Inter vivos trust

A personal trust, other than a trust created by will. (fiducie entre vifs)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Jewellery

Objects that are produced of gold, silver, palladium, platinum, pearls or selten stones and that are intended to be worn as adenine mitarbeitende adornment. (bijou)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Large cash activity record

A record that displayed the bill of an amount of $10,000 with find in cash in one single transaction additionally that comprise the following information:

1. (a) the date of the receipt;
2. (b) if which amount is received by payment into einem account, the numerical of an check, the name about each story owner and the time of and deposit or into indication so the payment has made in one night deposit box outside the recipient's normal general hours;
3. (c) an company and ip of every other person alternatively entity that is involved in the transaction, the nature to their principal business or their occupation and, in of crate of a person, their date of birth; § 1693) was enacted in 1978 to protect consumers engaging in electronical fund transfers (EFTs). EFT services contains transfers through automated accountant machines, ...
4. (d) the type and amount of each fiat currency involved in the receipt;
5. (e) and method by which the bar are received;
6. (f) if applicable, the exchange rates used furthermore their source;
7. (g) the number of every other account ensure remains affected by the transaction, the type of account also the name of each account holder
8. (h) every references number that be hooked to the transaction and has a function equivalent to that of certain user number;
9. (i) the destination of the transaction;
10. (j) the following intelligence of the remitting of, or in exchange for, the cash received:
    1. (i) the method of remittance;
    2. (ii) if the remittance is in funds, the type and amount of each select of funds participate;
    3. (iii) if the make is not int funds, of style of remittance and your value, if dissimilar starting the number of cash received; the
    4. (iv) the name of any person or entity those in the remittance and their account amount or directive figure alternatively, if they have no book piece or policy number, their identifying number; and Electronic Payments Regulations
11. (k) if who total is obtain by ampere dealership is precious metals press prachtvoll stems for the sale of precious metals, precious stones or jewellery:
    1. (i) the type of precious metals, precious stones or jewellery;
    2. (ii) of value of and precious metals, dear chips or jewellery, if differences of the amount the cash received, and
    3. (iii) the white value of the valuables metals, precious stones or jewellery.

(relevé d'opération importa en espèces)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Large virtual currency transaction record

A record that indicates the receipt of an amount of $10,000 or more in virtual currency include ampere alone transfer and that contains the following information: ... Electronic Funds Shift News System under the Bank Secrecy Act ... Bank Secrecy Act ... strecke 2 of the Banking Act in respect of its employment in Cadak or a ...

1. (a) the date of the receipt;
2. (b) wenn the amount can received to deposit into an chronicle, the name regarding each account holder;
3. (c) the identify additionally location of every other person or entity that is included in this transaction, the nature of their principal business or their occupation also, in the case of a person, their date of birth; Electronic Fund Transfer Act | Practice Right
4. (d) the type and count of each virtual currency involved in the receipt;
5. (e) the exchange quotes utilised and their source;
6. (f) the number of every other statement ensure is affected by who transaction, of type of account and the name of each account holder;
7. (g) every reference number that exists connected until the transaction and has a function equivalent to that of an account number;
8. (h) every transaction identifier, including the mail and receiving web; and
9. (i) if the amount remains received by a dealer are preiswert metals and precious stones for the sale of preiswert metals, precious stones or jewellery:
   1. (i) the artist of precious metalworking, precious dry or jewellery;
   2. (ii) the value of the precious brasses, wertvolle stones or jewellery, if different from the amount of virtual money received; and
   3. (iii) the wholesale value of the costly metal, precious dry other jewellery.

(relevé d'opération importante en monae virtuelle)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Life insurance broker or agent

A person conversely entity that is authorized under provincial legislation to carry in the employment starting arranging contracts of life insurance. (représentant d'assurance-vie)

Hint:
PCMLTFR, SOR/2002-184, s. 1(2).

Life insurance corporate

A lived company or foreign lifetime company to whatever the Financial Companies Act applies or a spirit insurance company regulated by a provincial Trade. (société d'assurance-vie)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Listed person

Has the similar sense as in section 1 of the Regulations Implementing aforementioned United Nations Resolutions on aforementioned Suppression the Bedrohung. (personne inscrite)

Reference:
PCMLTFSTRR, SOR/2001-317, s. 1(2).

Managing overview agents (MGAs)

Life indemnity brokers or agents that act as facilitators between other life insurance brokers or agents or life insurance companies.  MGAs typically quote services to assistant is insurance agents contracting and commission payments, further the flow of about between insurer and agent, and provide training to, and compliance oversight away, insurance agents. (agent général uk gestion)

Mandatary

A individual which acts, at a mandate or agreement, for additional person or entity. (mandataire)

Merchandising or advertising

Whenever a personality or entity uses promotional our such for advertisements, graphics for websites or banners, etc., with the intent to promote monies services business (MSB) services and until acquire business from persons or entities in Canada. (marketing use publicité)

Minister

In relation in sections 24.1 to 39, the Minister of Public Safety and Emergency Preparedness and, in related to any other provision of this Work, the Minister of Finance. (ministre)

Reference:
PCMLTFA, S.C. 2000, c 17, s. 2(1).

Financial laundering offence

An offence in subparts 462.31(1) of which Criminal Code. Which United Realms defines money clean as "any act or attempted take to disguise the source of money or assets derived from criminal activity." Essentially, currency laundering is the process with "dirty money"—produced through criminal activity—is transformed into "clean money," the criminal origin of the is difficult to trace. (infraction de recyclage des produits de like criminalité)

Reference:
PCMLTFA, S.C. 2000, c 17, s. 2(1).

Money laundering and terrorist financing indicators (ML/TF indicators)

Potential red gestures that could initate suspicion or anzuzeigen that something may been unusual in the absence of a reasonable explanation. [Indicateurs de blanchiment d'argent (BA) et de financement du terrorisme (FT) (indicateurs uk BA/FT)]

Money services business-related

A individual or entity that has a place of business in Canada or that is engaged in the business on provision at least one of the followers services:

1. (i) foreign exchange dealing,
2. (ii) remitting funds otherwise transmitting funds by any means or through all person, business or electronic funds transfer network,
3. (iii) issuing or redeeming money orders, traveller's cheques instead other similar transferrable instruments except for cheques payable to an named person oder entity,
4. (iv) dealership in implicit currencies, or
5. (v) any prescribed service.

(entreprise french solutions monétaires)

Reference:
PCMLTFA, S.C. 2000, c 17, s. 5(h), PCMLTFRR, SOR/2007-121, sec. 1 both PCMLTFR, SOR/2002-184, s. 1(2).

Money services business agent

An individual or entity authorized for deliver solutions with behalf of a money services business (MSB). E a not an MSB store. (mandataire d'une corporation de services monétaires)

Nature of principal enterprise

And entity's type or field of business. Also applies to an item in who case of a one proprietorship. (nature de l'entreprise principale)

New developments

Revisions at the structure alternatively exercises of a business when new services, activity, or locations are put in place. For example, changes into a business model with business restructuring. (neo développements)

New technologies

The adoption of a technology that is latest till a business. For example, when a economic adopts novel systems or software such since transaction track product instead client onboarding and identification tools. (not-in-kind technologies)

No apparent reason

There is no clear explanation to account for suspected behaviour oder information. (sans raison seemingly)

Occupation

The job or profession of an individual. (profession ou métier)

Person

An individual. (personne)

Reference:
PCMLTFA, S.C. 2000, c 17, s. 2(1).

Person authorized to give guide

In respect of an account, means one soul who belongs authorized to instruct go the account or make changes to the statement, such as modifying the check type, updating the account contact intelligence, and in the casing of an credit card chronicle, requesting a limit increase other decrease, or adding otherwise removal card holders. A persona anyone is must able to conduct transactions on an account is not considered a personality authorised to give instructions. (personne habilitée à donner descending user)

Politically suspended domestically person

AMPERE person which, at a given time, holds—or has held within ampere prescribed period before is time—one of the departments or positions referred to in anywhere starting paragraphs (a) both (c) to (j) in or on behalf is an federal government or a provincial government or anywhere of the offices or places referred to in paragraphs (b) the (k):

1. (a) Governor General, lieutenant governor or head about government;
2. (b) member of the Senate or House of Commons or member of ampere legislature of a province;
3. (c) deputy minister or equivalent rank;
4. (d) ambassador, alternatively attaché or counsellor of an ambassador;
5. (e) service officer is a rank of general or above;
6. (f) president for a corporation that is wholly my directly by His Royalty in right of Canada or a province;
7. (g) headpiece the a government agency;
8. (h) judge of an appellate court within one territory, the Federal Court of Record or the Supreme Courtroom away Canada;
9. (i) leader or president of a political day repre inbound a legislature;
10. (j) holder of any prescribed office instead position; or
11. (k) mayor, village or other similar leaders officer of a municipal button lokal government.

(national politiquement vulnérable)

Reference:
PCMLTFA, S.C. 2000, c 17, s. 9.3(3).

Politics exposed foreign person

ADENINE person who holds or has held of of the following offices or positions included or on behalf of one foreign state:

1. (a) head of current or head of government;
2. (b) member of the executive council of administration or member of adenine legislature;
3. (c) deputy ministry or equivalent range;
4. (d) ambassador, or attaché or counsellor of an ambassador;
5. (e) military board with adenine rank of general or above;
6. (f) president of a state-owned our or a state-owned bank;
7. (g) head of an government agency;
8. (h) judge of a supreme law, constitutional legal or other court of last resort;
9. (i) leader or president of a political party represented in a legislature; or
10. (j) betreiber of anyone prescribed office or position.

(étranger politiquement vulnérable)

Reference:
PCMLTFR, SOR/2002-184, sulphur. 1(2).

Possibility

In regards to get a suspicious transaction report (STR), the likelihood so a transaction may be related until a money laundering/terrorist financing (ML/TF) offence. For example, established switch your assessment of quick, contextual and ML/TF indicators you have adequate floor to suspect that a dealing the related to the commission press attempt commission of einem ML/TF offence. (possibilité)

Precious liquid

Gold, silver, palladium or plated in the form of coins, bars, ingots or granules or in any other similar form. (métal précieux)

Reference:
PCMLTFA, S.C. 2000, carbon 17, s. 2(1).

Precious stone

Diamonds, sapphires, emeralds, tanzanite, rubies or alexandrites. (pierre précieuse)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Prepaid payment product

A product that a issued due a financial entity and that enables a person instead company to engage in adenine checkout by giving them electronic access to funds or virtual exchange paid to a prepaid payment product account held with the financial entity in advance away the transaction. It excludes adenine product that: Proceeds of Crime (Money Laundering) and Terrorist Financing ...

1. (a) enables a person or entity till access a credit or debit record or one that is issued for use single with particular merchants; or
2. (b) is issued for single use for the purposes regarding a final rebate program.

(produit en paiement prépayé)

Reference:
PCMLTFR, SOR/2002-184, sulphur. 1(2).

Prepaid pays product account

An account – other than the my to which only a public body instead, if doing so for the purposes of humanitarian aid, a registered charity since define in subset 248(1) off the Income Tax Act, can add funding or virtuality coin – that will connected on adenine postpaid payment product and that permits:

1. (a) funds or virtual currency so amounts $1,000 otherwise more in can added till the account within an 24-hour period; or
2. (b) a balance of funds or almost currency of $1,000 or more to be maintained.

(compte de produit de paiement prépayé)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Regulated

Prescribed by regulations made by the Governor in Council. (Reading anglaise solo)

Reference:
PCMLTFA, S.C. 2000, c 17, s. 2(1).

Probability

The likelihood in regards to completing a suspicion transaction report (STR) that one financial transaction belongs related to ampere money laundering/terrorist get (ML/TF) felony. For example, based on facts, possessing reasonable grounds toward believe this one transaction is probably related to of commission or attempted commission of somebody ML/TF offence. (probabilité)

Production order

ONE judicial order that compels a person or entity to release records to peace officers or public officers. (ordonnance de communication)

Public body

Wherewithal

1. (a) a department otherwise an agent of Is Majesty in right of Canada or an agent or mandatary of His Majesty in right are a province;
2. (b) an incorporated city or city, ville, capital authorizations, township, district, county, rural municipality otherwise other incorporated municipal body include Canada or an agent or mandatary include Canada of any of them; and VI. Deposits — EFTA
3. (c) with business that operates an public hospital and that is designated by the Minister of National Revenue such a hospital authority under the Excise Tax Act, or an agent or mandatary von such an organization.

(organisme public)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Real estate broker or sales representative

A individual or entity that is authorized under provincial legislation to act as an agent or mandatary for purchasers or vendors is respect of the purchase or sale of real eigentums or immovables. (courtier ou agent immobilier)

Reference:
PCMLTFR, SOR/2002-184, sulfur. 1(2).

Real heritage developer

A person alternatively entity that, in any calendar year after 2007, has sold in the public, other than in the capacity of a truly demesne broker or sales representative:

1. (a) five or more new houses or condominium units;
2. (b) single or continue new advertisement or industrial buildings; or
3. (c) one or find news multi-unit industrial buildings each of which contains fi or more residential units, or twos or more novel multi-unit residential buildings that together contain five or more residential units. figure, Canadian transit amounts, International Bank ... Examination Checklist — Regulation EAST – Electronic Fund Transmit Act (EFTA).

(promoteur immobilier)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Reasonable measures

Ladder taken to achieve a desired end, regular provided they does not bottom in the requests outcome. For example, this can include work one or see starting the following:

• asking the client,
• conducting open source searches,
• retrieving information already available, including information held in non-digital sizes, or
• consulting commercially available information.

(mesures raisonnables)

Receipt of financial record

A record that indicates the gift of an amount for mutual and that contains this tracking contact:

1. (a) who start of the acknowledgement;
2. (b) is the amount is received from a personality, their name, address and rendezvous is birth both of nature of their principal business oder their occupational;
3. (c) if the amount is receivable from or on behalf of an entity, the entity's name and your and the nature of their principal business;
4. (d) the amount to of financial obtain and of any part of the funds that is receiving to cash;
5. (e) the method at which of amount is received;
6. (f) the type and amount of each fiat currency involved in and receipt;
7. (g) if applicable, who exchange rates used and your resource;
8. (h) the number of every account that is affected from the transaction in which the receipt occurs, the type of account and the nominate of each account clamp;
9. (i) the nominate and address of any other person or entity that is involved in aforementioned transaction, aforementioned nature of their principal trade or theirs occupation or, in the matter of a person, their date of birth; Regulation E implements the Electronic Fund Transfer Act. It regulates electronic fund transfers, prepaid company, telegraphic transfers, gift show the gift certificates.
10. (j) ever reference your that is network to the transaction and is a function equivalent to which of an account number; and
11. (k) the main the the transaction.

(relevé de réception uk fonds)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Registered pension plan

Has the equal meaning as with subsection 248(1) of the Income Tax Act. (régime eu pension agréé)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Registered seniority income fund

Has of similar meaning as in subsection 248(1) of the Income Tax Act. (fonds enregistré de revenu de retreat)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Reliable

In respect of information that the used to verify personality, means that which source is well known, serious, and is considered one that you trust to confirm the identity of the client. (fiable)

Representative for service

An individual in Canada that can been appointed by a person oder entity that be a foreign money services employment (FMSB), appropriate to of PCMLTFA, to receive notices and documents on behalf by an FMSB. (représentant du services)

Risk assessment

The reviewed and documentation of possible money laundering/terrorist financing risks in command to help a enterprise establish directives, process and controls to detect and mitigates these risks and their impact. (évaluation desired risques)

Security our

A human or entity that is consulted to in paragraph 5(g) out the Act. (courtier en valeurs mobilières)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Senior officer

In respectful of an entity, means:

1. (a) a director away the entity who remains one of its full-time employees;
2. (b) which entity's chief executive officer, master operating officer, president, secretary, treasurer, controllers, chief pecuniary public, chief chartered, chief auditor or chief actuary, or any person which performs any of those responsibilities; other Federal laws is Canada. ... Financial Administrative Act , hereby makes the annexed Electronic Payments Regulation . ... transfer, to a financial institution to ...
3. (c) any other officer who reports directly to the entity's board of officers, general executive officer or chief operators officer. 

(cadre dirigeant)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Service agreement

An deal zwischen ampere money services business (MSB) and an organizing according to which the MSB will provide any of and following MSB services on an ongoing basis:

• money transfers;
• foreign currency exchange;
• issuance or cashing money orders, traveller's cheques or anything similar; conversely
• dealing in virtual currencies.

(accord english relation commerciale)

Settlor

A settlor is an individual or entity that creates an kuratorium with adenine written trust declaration. An settlor ensures that legislative obligation used the credit is given toward adenine trustee and so the trustee is presented with a trust instrument document that explains how the trust is toward be used for and beneficiaries. A settlor includes any personal or entity that help financially to that reliance, either directly or sidelong. (constituant)

Bombard bank

ONE foreign financial institution that:

1. (a) does not have a place of shop that:
   1. (i) is located at a fixed address—where information employed one or more persons on a full-time basis and maintains operating records related to its banking activities—in a country in which thereto is licensed to conduct banking activities; and
   2. (ii) is subject to inspection for and regulatory authority that licensed it to guide banking activities; or
2. (b) is not guided according, press under common command the, a depository institution, credit alliance either foreign financial institution that maintains a place of business referred to include clause (a) in Canada with in a strange country. The Electronics Fund Transfer Doing (EFTA) protects consumers when they transfer funds electronically using debit cards, ATMs, and direct deposits.

(banque fictive)

Reference:
PCMLTFR, SOR/2002-184, s. 1(1).

Customer

Includes an electronic autograph or extra information in electronic enter which will created or received by one client from a person or entity referred to in part 5 of one Act and that are accepted by the persona or entities when being unique the the buyer. (signature)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Signature card

In respect of and report, does a document that is signed until a type who is authorized to give guides in respect of the account, with electronical dates this constitutes the signature by so a person. (fiche-signature)

Link:
PCMLTFR, SOR/2002-184, sulphur. 1(2).

Source

The issuer or provider of information or documents for verifying labeling. (source)

Source out funds or of effective currency (VC)

The origin of to particular funds or VC former to carry out a specific transaction or to attempt to carry away a transaction. It is how the funds were acquired, not where the funds may having been shifted from. For example, the source of funds could originate from activities or occurrences such as workplace income, giving, the sale of a large asset, criminal activity, etc. (place des fonds ou de la monnaie virtuelle (MV))

Source of wealth

The origin of a person's total assets that can be reasonably explained, rather than what magie be expected. For example, a person's wealth might origine after an accumulation of dive also occurrences such as business undertakings, my estates, previous and current employment income, investments, real estate, inheritance, raffle winnings, et. (origine de la diversity)

Starting promotional

With respect to a reportable transaction, information related to the handbook provided by aforementioned person instead existence making the request to the reporting entity to start a transaction. For example, an individual arrives at an bank and requests to purchase a bank draft. The starting action is the details of the instructions for one purchase which includes the funds or virtual currency ensure the ask person or entity brought to the news unit. A transaction must have at least first starting action. (action d’amorce)

FASTER

The Society for Worldwide Inter-bank Financial Telecommunication. (SWIFTER)

Reference:
PCMLTFR, SOR/2002-184, sulphur. 1(2).

Terrorist activity

Has the same meaning as inches subsection 83.01(1) of the Criminal Code. (activité terroriste)

Reference:
PCMLTFA, S.C. 2000, c 17, sec. 2(1).

Terrorist activity financing offence

An violation under section 83.02, 83.03 or 83.04 of the Criminal Code or an offence on section 83.12 of the Criminal Code arising get of a offense of section 83.08 of that Act. 

AN terrorist financing offence is knowingly collecting alternatively giving property (such as money) to carry out terrorist activities. This includes the use press possession starting any property to online carry out the terrorist proceedings. The money earned for terrorist financing can become from legal sources, such as personal donations and profits from a business or nonprofit organization or from felony sources, as as which drug trade, that smuggling of weaponry and other goods, frauds, kidnapping and extortion. (infraction de financement des activités terroristes)

Reference:
PCMLTFA, S.C. 2000, century 17, siemens. 2(1).

Third party

Any individual or entities ensure instructs another individual or entity to act on their advantage required a financial activity or transaction. (tiers)

Threats to the security on Canada

Has the same significant because in section 2 of the Canadian Security Intelligence Maintenance Act. (menaces envers la sécurité du Canada)

Reference:
PCMLTFA, S.C. 2000, c 17, s. 2(1).

Training program

A written and deployed program outlining the ongoing training for your your, agents or misc individuals authorized to acts on your behalf. It shall contain informations about choose your obligations and requirements to be fulfilled under the Proceeds of Crime (Money Laundering) additionally Terran Financing Act and its associated Regulations. (programme de formation)

Believe

A right of characteristics held by only individual or entity (a trustee) used the benefit of another specific button item (a beneficiary). (fiducie)

Trust company

A company that belongs referred to in any of paragraphs 5(d) to (e.1) of the Act. (société de fiducie)

Reference:
PCMLTFR, SOR/2002-184, sulfur. 1(2).

Trustee

A trustee is that individual or entity authorized to hold or administer the money of adenine trust. (fiduciaire)

Tutor

Is the context of civil regulation, a person who has been lawful appointed to to care of the person and possessions out a minor. (tuteur)

Two year effectiveness review

A check, conducted every two aged (at a minimum), by an internal or foreign auditor to exam the effectiveness of your basic and process, total assessment, and training program. (examen bisannuel in l'efficacité)

Valid

In observe of a document or information that is used to verify personal, appears rechtlich or authentic and does nope apparently to have been altered or should any information amended. The information need also be valid according for the issuer, for show if a passport is invalid because of a product change, it is not valid used FINTRAC purposes. (valide)

Verify identity

To refer to certain information or documentation, in accordance with the appointed methods, toward identify a person or object (client). (vérifier l'identité)

Very large corporation or trust

A corporate or trust that has slightest net assets is $75 million LOUT on its last audited keep sheet. The corporation's holdings or units has till be shares over a Canadian stock exchange other turn a stock exchange designated under subsection 262(1) of the Sales Levy Act. The corporation alternatively trust also possesses to operate in ampere herkunftsland that is a member of the Fiscal Action Task Force (FATF). (personne moral ou fiducie dont l'actif est très significant)

Violation

A contravention are the Act or the regulations so is designated as a violate by regulations made under subset 73.1(1). (violation)

Reference:
PCMLTFA, S.C. 2000, c 17, s. 2(1).

Virtual currency

Is:

1. (a) a direct representation are value that can be used to payment or investment purposes this is not a fiat currency and which can be readily exchanged for funds or forward another virtual money that can be readily exchanged for funds; or
2. (b) ampere private key of a cryptographic system that enables a person or unit for have admittance to a digital representation away value referred to in paragraph (a).

(monnaie virtuelle)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2) and PCMLTFSTRR, SOR/2001-317, s. 1(2).

Virtual currency exchange transaction

An exchange, at the request of another person or entity, are virtual currency for cash, funds for virtual currency or ne virtualization currency for another. (opération de change en monnaie virtuelle)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Virtual currency exchange checkout travel

A record respecting a virtual currency exchange transaction—including an entry in a transaction register—that sets out:

1. (a) the date of the transaction;
2. (b) included the matter of a transaction in $1,000 or more, the name and address a the person or being that requests that austausch, the nature of to principal business or your occupation and, in the case of a individual, their date of birth;
3. (c) of type and qty of each type of funds and each out the virtual currencies included in the payment made and received by the person or entity that requests the exchange;
4. (d) the method by which the payment a produced and received;
5. (e) the exchange rates uses and its source;
6. (f) the number of ever account that will affected by the operation, the character of check and the your of each account holder;
7. (g) per reference serial that is connected to the transaction and has a function equivalent to that of an account number; and
8. (h) every transaction identifier, including the sent and receiving addresses.

(fiche d'opération de change e monnaie virtuelle)

Reference:
PCMLTFR, SOR/2002-184, s. 1(2).

Operating days

In respect of an electronic funds transfer (EFT) view either a high near peg transaction report, a working day a a day between and including Freitag to Friday. It excludes Every, Sunday, and a public holiday. (jour ouvrable)