PCMLTFA: Proceeds of Crime (Money Laundering) and Terrorist Financing Act

At a glance

Full text

Official full text: Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PDF, en)² · 1,327 KB · file checked 2026-09-24 · consolidated version of 2026-09-03

Official page: laws-lois.justice.gc.ca¹ · archived copy

Summary

The PCMLTFA (S.C. 2000, c. 17) is Canada's principal anti-money-laundering and counter-terrorism-financing statute. It establishes FINTRAC (the 'Centre') and imposes record-keeping, client identification, and suspicious/large-transaction reporting duties on 'Part 1' reporting entities, including banks, securities dealers, and money services businesses (MSBs). Section 5(h) captures domestic persons/entities with a place of business in Canada providing foreign exchange dealing, funds remittance/transmission, money order issuance, virtual currency dealing, or private automated banking machine acquiring services; s 5(h.1) extends the same list to foreign MSBs (FMSBs) with no place of business in Canada that direct such services, including virtual currency dealing, at clients in Canada. Section 11.1 requires every person/entity caught by s 5(h) or (h.1) (plus certain money-order issuers) to register with FINTRAC before operating; s 11.11 lists persons ineligible for registration (e.g. those under terrorism-related sanctions). Non-compliance carries administrative monetary penalties and criminal offences under later Parts.

Summary written by the Atlas from the official text; the law itself prevails.

Main articles

• s 5(h): Defines domestic money services businesses (incl. dealing in virtual currencies) subject to the Act.
• s 5(h.1): Extends the same MSB service list, including virtual currency dealing, to foreign MSBs directing services at Canadian clients.
• s 11.1: Requires every person/entity referred to in s 5(h) or (h.1) to register with FINTRAC (the Centre) before operating.
• s 11.11: Lists persons/entities ineligible for FINTRAC registration, e.g. those subject to terrorism-related sanctions.

Licences it governs

• MSB · Canada

  Money services business (MSB) registration (covers foreign exchange dealing, money transferring, virtual currency dealing, crowdfunding platforms and related services; a separate foreign-MSB registration applies to businesses without a place of business in Canada that direct services at Canadians)

  FINTRAC

Regulators that apply it

• Canada

  Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

  FINTRAC is Canada's financial intelligence unit and the anti-money-laundering/anti-terrorist-financing supervisor. It collects, analyses and