🇨🇦 Live AML & Counter-Terrorism Financing

Canada Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA)

Canada's primary anti-money laundering and counter-terrorist financing legislation for financial entities.

View official source document

Rules extracted

Obligations decomposed

3.7x

Avg obligations per rule

🇨🇦 Canada

Jurisdiction

About this regulation

The PCMLTFA is Canada's principal anti-money laundering and counter-terrorist financing legislation. It establishes FINTRAC as Canada's financial intelligence unit, defines reporting entities and their obligations including suspicious transaction reports (STRs), large cash transaction reports (LCTRs), electronic funds transfer reports (EFTRs), client identification and verification, record keeping, compliance programs, and cross-border currency reporting. The Act sets out administrative monetary penalties and criminal offences for non-compliance. Amended multiple times, most recently to add trade-based money laundering provisions (Part 2.1).

What AuditDSS covers

Source

Regulation

Extracted

Rules

Decomposed

Obligations

3.7x

Decomposition ratio

Each rule is decomposed into an average of 3.7 atomic obligations — the smallest testable units that can be independently violated.

Fully extracted & scored

All 44 obligations have been decomposed, titled, risk-scored, and embedded for semantic matching.

Risk scoring

Every obligation in PCMLTFA is scored across independent risk dimensions:

Obligation Weight

How critical within the regulatory framework

Violation Likelihood

How often breached in practice

Enforcement Evidence

Regulator enforcement history and penalties

Cascade Dependency

How many obligations depend on this one

Regulatory details

Full title: Canada Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA)
Regulatory body: Financial Transactions and Reports Analysis Centre of Canada
Jurisdiction: 🇨🇦 Canada
Document type: statute
Effective date: June 29, 2000
Issuing authority: Parliament of Canada
Industry: AML & Counter-Terrorism Financing
Official source: View source document ↗

Who this applies to

bankscredit unionsmoney services businessessecurities dealerslife insurance companiesaccountantsreal estate brokerscasinosdealers in precious metals and stonesnotaries (BC)

Key requirements

suspicious transaction reporting (STR)
large cash transaction reporting (LCTR)
electronic funds transfer reporting (EFTR)
client identification and verification
beneficial ownership
record keeping
compliance program
FINTRAC registration
cross-border currency reporting
PEP screening

Frequently asked questions about PCMLTFA

What is PCMLTFA?

Who does PCMLTFA apply to?

PCMLTFA applies to banks, credit unions, money services businesses, securities dealers, life insurance companies, accountants, real estate brokers, casinos, dealers in precious metals and stones, notaries (BC).

How many obligations does PCMLTFA contain?

AuditDSS has decomposed PCMLTFA into 44 atomic obligations from 12 rules. Each obligation is independently testable and risk-scored.

What are the key requirements of PCMLTFA?

The key requirements include: suspicious transaction reporting (STR), large cash transaction reporting (LCTR), electronic funds transfer reporting (EFTR), client identification and verification, beneficial ownership, record keeping, compliance program, FINTRAC registration, cross-border currency reporting, PEP screening.

How can I assess my PCMLTFA compliance?

Upload your compliance policy to AuditDSS. The platform maps your document against all 44 PCMLTFA obligations using deterministic AI scoring — not checklists or LLM summaries. You get a risk-scored gap analysis showing exactly which obligations are covered, partially covered, or missing.

Which jurisdiction enforces PCMLTFA?

PCMLTFA is enforced in Canada by Financial Transactions and Reports Analysis Centre of Canada.

When did PCMLTFA come into effect?

PCMLTFA became effective on June 29, 2000.

What industry does PCMLTFA apply to?

PCMLTFA is primarily relevant to the AML & Counter-Terrorism Financing industry. AuditDSS covers 64 regulations in this industry sector.

Build a PCMLTFA compliance pack

Don't have a compliance policy yet? AuditDSS generates a complete compliance pack for PCMLTFA — alone or combined with other regulations your business needs. Every clause is mapped to specific obligations.

Policy

High-level commitments and governance framework covering PCMLTFA requirements.

Procedures

Step-by-step operational procedures to implement each policy commitment.

Forms & checklists

Ready-to-use forms, registers, and checklists for day-to-day compliance operations.

Multi-regulation

Combine PCMLTFA with other regulations into a single unified compliance pack for your business.

Build PCMLTFA compliance pack

Already have a policy? Assess it against PCMLTFA

Upload your document

Upload your compliance policy, program manual, or operational document. AuditDSS accepts any text-based document.

AI maps against 44 obligations

Your document is scored against every obligation in PCMLTFA. Each claim is mapped to the obligation tree and evaluated for coverage.

Risk-scored gap report

Receive every gap ranked by risk priority with remediation guidance, enforcement evidence, and cascade impact analysis.