In the Government of Canada's continuing efforts to address fentanyl and other proceeds that generate criminality in Canada, seven transnational criminal organizations were announced on February 20, 2025 as Terrorist Entities under the Criminal Code. Read the list here
Additionally, we have received notice that FINTRAC would like to remind all businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to update their records with these newly listed entities. It is also imperative to review any past transactions and look to submit any potential terrorist property reports as required. You may recall FINTRAC has provided guidance on reporting terrorist property to FINTRAC, which can be reviewed in full here
Under the PCMLTFA, businesses have an ongoing obligation to monitor Terrorist Entity listings in the Criminal Code.
And as always, we know that navigating compliance can be tricky - but, our experts are here to help. Reach out to us with any questions you may have and we will get you connected with an AML Advisor contactus@theamlshop.ca