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Guidance Manual to Combat
Money Laundering and Terrorist Financing
As you know, it's a legal obligation and a compliance requirement for every Life Insurance Broker and Agent in Canada to have policies and procedures regarding anti-money laundering and anti-terrorist financing. This comprehensive Guidance Manual is designed to be used as written policies and procedures which meet compliance requirements. Moreover, under the Guidance Manual, section 3 provides detail concerning particular legal obligations, sections 5.2 and 5.3 provide indicators or "red flags" of suspicious transactions, descriptive scenarios of suspicious transactions can be found in Appendix A, and section 8 deals with making reports to FINTRAC.
The Guidance Manual is user friendly and written in plain language. It will be updated when the Bill C-25 amendments and related new and revised regulations come into effect.
Please note the following links:
CLHIA's GUIDANCE MANUAL to COMBAT MONEY LAUNDERING and
TERRORIST ACTIVITY FINANCING
(English)
CLHIA's GUIDE sur la LUTTE CONTRE LE BLANCHIMENT D'ARGENT et
LE FINANCEMENT DES ACTIVITÉS TERRORISTES
(French)
If you have any questions regarding your obligations under the Proceeds of Crime (Money Laundering) & Terrorist Financing Act (PCMLTFA) or Regulations, please contact FINTRAC directly at
www.fintrac.gc.ca
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