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Publication of updated FINTRAC client identification, record keeping and other guidance

FINTRAC has updated its record keeping, client identification, beneficial ownership, and correspondent banking guidance to reflect regulatory amendments coming into force on June 1, 2021, and its foreign branches, foreign subsidiaries and affiliates requirements guidance by aligning its formatting with recently published guidance pieces.

Please note that the current record keeping, client identification, beneficial ownership, correspondent banking, and foreign branches, foreign subsidiaries and affiliates guidance will remain accessible on FINTRAC’s website until June 1, 2021, but will be removed after that date.

FINTRAC is committed to working with businesses to increase their awareness and understanding of their compliance obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

As Canada’s financial intelligence unit and anti-money laundering and anti-terrorist activity financing regulator and supervisor, FINTRAC plays a key role in helping to protect the safety of Canadians and the security of Canada’s economy.


For questions, please contact guidelines-lignesdirectrices@fintrac-canafe.gc.ca, and follow us on Twitter @FINTRAC_Canada to receive future updates.

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