Mondaq | Immediate And Permanent Changes To Canada's Anti-Money Laundering Laws
In the below article from Mondaq, it mentions the impacts to crowdfunding services, certain fintechs and payment service providers
Further to our recent article in which we put payment service providers, fintech, and crowdfunding platforms on notice about coming anti-money laundering (AML) and anti-terrorist financing (ATF) legislative changes, the federal government published the first of these changes in the Canada Gazette on April 27, 2022.
The changes came into force on April 5, 2022, through the enactment of the Regulations Amending the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations and the Proceeds of Crime (Money Laundering) and Terrorist Financing Administrative Monetary Penalties Regulations (the Amendments). Below we identify the main impacts the Amendments have on the previously existing federal AML and ATF regime........
