Its goal is to determine the extent to which selected companies are meeting legislative requirements under the Proceeds of Crime (Money-Laundering) and Terrorist Financing Act (PCMLTFA). It will look at compliance, reporting, maintenance of client records, and policies and procedures regarding client identification.
If selected, a company is required to provide FINTRAC with the completed assessment within 30 days.
For more information about compliance requirements, see ‘Guideline 4: Implementation of a Compliance Regime’ in the ‘Guidelines’ section of FINTRAC’s main website www.fintrac.gc.ca.
Click here for a one-page summary of the legislative requirements for the DPMS sector. Please note jewellery manufacturers who never sell to the public, including family and friends, appear to be exempt.
