Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

13 A financial entity shall keep the following records in respect of every credit card account that it opens and of every transaction that is connected to that account:

• (a) a record for each account holder and every other person — up to three, in the case of a business account — who is authorized to give instructions in respect of the account, containing their name and address, the nature of their principal business or their occupation and, in the case of a person, their date of birth;

• (b) if an account holder is a corporation, a copy of the part of its official corporate records that contains any provision relating to the power to bind the corporation in respect of the account or transaction;

• (c) a record of every application in respect of the account;

• (d) a copy of every credit card statement that it sends to an account holder;

• (e) a foreign currency exchange transaction ticket in respect of every foreign currency exchange transaction that is connected to the account;

• (f) if it initiates an international electronic funds transfer of $1,000 or more at the request of a person or entity and the funds are transferred from the account, a record of

  • (i) the date on which the electronic funds transfer is initiated,

  • (ii) the type and amount of each type of funds that is involved in the initiation,

  • (iii) the person’s or entity’s name, address and telephone number, the nature of their principal business or their occupation and, in the case of a person, their date of birth,

  • (iv) the exchange rates used and their source,

  • (v) the name and address of each beneficiary,

  • (vi) the number of every account that is affected by the initiation, the type of account and the name of each account holder,

  • (vii) every reference number that is connected to the electronic funds transfer and has a function equivalent to that of an account number, and

  • (viii) the number of every account that is affected by the electronic funds transfer, other than those referred to in subparagraph (vi); and

• (g) if it is the final recipient of an international electronic funds transfer of $1,000 or more and the remittance to the beneficiary is by payment to the account, a record of

  • (i) the date on which the electronic funds transfer is finally received,

  • (ii) the type and amount of each type of funds that is involved in the final receipt,

  • (iii) the name and address of each beneficiary, the nature of their principal business or their occupation and, in the case of a person, their date of birth,

  • (iv) the date of the remittance,

  • (v) the exchange rates used for the remittance and their source,

  • (vi) the type and amount of each type of funds involved in the remittance,

  • (vii) the number of every account that is affected by the final receipt or the remittance, the type of account and the name of each account holder,

  • (viii) every reference number that is connected to the electronic funds transfer and has a function equivalent to that of an account number,

  • (ix) the name and address of the person or entity that requested the initiation of the electronic funds transfer, unless that information was not, despite the taking of reasonable measures, included with the transfer and is not otherwise known, and

  • (x) the number of every account that is affected by the electronic funds transfer, other than those referred to in subparagraph (vii); and

• (h) a virtual currency exchange transaction ticket in respect of every virtual currency exchange transaction that is connected to the account.