Anti-Money Laundering

CPABC and the CPA profession are committed to combatting money laundering and financial crime. Professional accountants and accounting firms have been an official part of Canada’s fight against money laundering since 2000.

CPAs have certain obligations under federal anti-money laundering (AML) legislation. In Canada, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is the financial intelligence unit and is responsible for ensuring compliance with the compliance regime, reporting, record-keeping and client identification requirements.

Here, we provide information from FINTRAC and other sources to assist CPAs in BC in keeping updated with relevant information relating to AML legislation, regulations, and their obligations.

News

Cullen Commission Releases Final Report
Guide to Comply with Canada's Anti-money Laundering and Anti-terrorist Financing (AML/ATF) Legislation
Land Owner Transparency Registry Update – November 2021
Special Bulletin on COVID-19: Trends in money laundering and fraud
FINTRAC: 2019-2020 Annual Report (PDF)
Resources
Professional Development
Articles & Submissions

Anti-Money Laundering News

We asked 3 BC-based foodies about their path to success
CPA Profession

We asked 3 BC-based foodies about their path to success

When you graduate from university, it can be difficult to know what career path you want to take for the rest of your life. The thought alone can feel both overwhelming and intimidating.
By Daily Hive
Feb 1, 2022
Insolvency expert turns memorable cases into thrilling fiction
CPA Profession

Insolvency expert turns memorable cases into thrilling fiction

David Bowra, FCPA, FCA, didn’t have to look far to find inspiration for his debut crime novel, Banking on Murder.
By Megan Hooge
Jan 6, 2022
Maintaining confidentiality and public confidence
Resources for CPAs

Maintaining confidentiality and public confidence

CPAs in Canada are bound by a strict requirement of confidentiality that applies to all aspects of their professional work. In BC, the CPABC Code of Professional Conduct outlines the requirements and provides registrants with extensive guidance on this topic. In this article, we cover the major confidentiality rules in the CPA Code, describe situations that are prone to potential breaches of confidentiality, and provide some cautionary examples.
By CPABC's Professional Conduct Team
Nov 22, 2021
CPA profession appears at Cullen Commission into money laundering
Economy & Policy

CPA profession appears at Cullen Commission into money laundering

The Cullen Commission of Inquiry into Money Laundering in British Columbia turned its attention to Canada’s CPA profession in early 2021. The purpose of the Commission is to inquire into and report on the extent of money laundering within certain sectors, including professional services, and determine the scope and effectiveness of the powers, duties, and functions exercised or carried out by relevant regulatory authorities. 
By Jessica McKeachie
Mar 5, 2021
The fight continues
Economy & Policy

The fight continues

An update on anti-money-laundering initiatives
By Jessica McKeachie
Jan 13, 2021