Canada - Penalties for Non-Compliance with PCMLTFA

Non-compliance with Part 1 of Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) may result in criminal or administrative penalties. When there is extensive non-compliance or little expectation of future compliance, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) may disclose the non-compliance to law enforcement. As of December 30, 2008, FINTRAC also has legislative authority to issue administrative monetary penalties (AMP) to reporting entities that are in non-compliance. A list of violations is available on the Justice Canada Website. For more information on administrative monetary penalties, consult FINTRAC's Frequently Asked Questions.