Compliance

PCMLTFA

Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

Definition

Federal AML legislation administered by FINTRAC. Investment dealers must report Large Cash Transactions ($10,000+, single or 24-hour aggregate), Electronic Funds Transfers ($10,000+ in or out), Suspicious Transaction Reports (no monetary threshold), and Terrorist Property Reports. Records retained 5 years generally; 7 years for client identification.

Source

PCMLTFA; FINTRAC Guidelines

Where this shows up on the CIRE

Outcome 6.2

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