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Our Federal government is looking to toughen up the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations (PCMLTFR).  Should this happen, this will result in greater obligations for reporting entities under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.  Put another way, the FINTRAC exam process will hold greater risk to an organization and an increased likelihood that FINTRAC will find a deficiency.  Read about the proposed changes here.

 

 

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About the Author:

Tushar K. Pain is an experienced lawyer who has advocated for his clients for more than 17 years. He has extensive experience in litigation and has represented clients facing potential sanctions under the Proceeds of Crime Money Laundering Terrorist Financing Act (PCMLTFA). If you are being investigated by FINTRAC call 416 410 4838 to speak with Tushar.

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