British Columbia notaries

Your Obligations

If you are a British Columbia notary public or a British Columbia notary corporation, you have the following specific regulatory requirements under the PCMLTFA when you engage in any of the following activities on behalf of any individual or entity:

If you are an employee of a reporting person or entity, these requirements are the responsibility of your employer except with respect to reporting suspicious transactions and terrorist property, which is applicable to both.


Additional Information for British Columbia Notaries

Reporting

Record Keeping

You must keep the following records:

See Guideline 6J: Record Keeping and Client Identification for British Columbia Notaries

Ascertaining Identity

You must take specific measures to identify the following individuals or entities:

See Guideline 6J: Record Keeping and Client Identification for British Columbia Notaries

Use of personal information

The use of personal information in Canadian commercial activities is protected by the Personal Information Protection and Electronic Documents Act (PIPEDA), or by substantially similar provincial legislation. You have to inform individuals concerning the collection of personal information about them. However, you do not have to inform individuals when you include personal information about them in any of the reports that you are required to make to FINTRAC. You can get more information about your responsibilities in this area from the following:

Business Relationship

You enter into a business relationship when you conduct two or more transactions in which you have to:

See Guideline 6J: Record Keeping and Client Identification for British Columbia Notaries

Third Party Determination

Where a large cash transaction record is required, you must take reasonable measures to determine whether the individual is acting on behalf of a third party.

In cases where a third party is involved, you must obtain specific information about the third party and their relationship with the individual providing the cash.

See Guideline 6J: Record Keeping and Client Identification for British Columbia Notaries

Compliance Regime

The following five elements must be included in a compliance regime:

See Guideline 4: Implementation of a Compliance Regime

Penalties for Non-compliance

Non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) Terrorist Financing Act may result in criminal or administrative penalties.

FINTRAC Interpretation Notices

FINTRAC issues FINTRAC interpretation notices (FINs) to provide technical interpretations and positions regarding certain provisions contained in the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations.

For more information on your obligations and on FINTRAC, you can also consult our Frequently Asked Questions.

Date Modified: