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Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT)

Canada’s anti-money laundering laws and regulations are intricate.  They have expanded over the years to keep up with international standards.

It isn’t enough just to know the rules themselves.  They require an understanding of money laundering risk, regular audits of your policies and procedures and the ability to keep up with international developments.

Our principals have a thorough understanding of the rules, the risks and the information sources you may need.  They have commented on the rules as they developed, written guidance on their application, sat on national and international committees on AML/CFT developments and spoken at AML conferences in Canada and abroad.

We can:

Ensure that your policies and procedures are up to date
Provide AML training
Conduct audits of your policies and procedures
Keep you up-to-date with international developments that may result in future changes to the rules
Help you find the information you need.

 

Did you know?

The list of prescribed stock exchanges “referred to in section 62(2)(m) of the Proceeds of Crime (Money Laundering and Terrorist Financing Regulations is no longer found in the Income Tax Regulations.

Amendments to the Income Tax Act in 2008 gave the Minister of Finance the authority to designate stock exchanges. The list of designated stock exchanges is posted on the Department of Finance web siteClick here to find it.

All dealers are required under section 71(1)(e) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations to have an audit of their anti-money laundering programs every two years. Sutton Boyce Gilkes can conduct your AML audit.