As an independent advisor, you are required to have an Anti-money Laundering (AML) compliance regime.
Recently, advisors and MGAs have been examined by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada), to determine their compliance with The Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its regulations.
In order to assist you in this process BridgeForce Financial Group, has provided the following tools:
- An AML training presentation for you and/or your staff
- Guidance on preparing an anti-money laundering program that complies with PCMLTFA
FINTRAC has been very active within the insurance industry for the last few years. They have the ability to levy fines for non-compliance with the Act, particularly failure to implement a compliance regime. Please review the attached documents, customize them and implement them accordingly into your practice.
The information we have provided may assist you in complying with your obligations under Canada’s anti-money laundering and anti-terrorist financing laws.
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