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Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

Version of section 28 from 2006-03-22 to 2008-06-22:

  •  (1) Subject to subsection 52(1), every money services business shall report the following transactions and information to the Centre:

    • (a) the receipt from a client of an amount in cash of $10,000 or more in the course of a single transaction, together with the information referred to in Schedule 1, unless the cash is received from a financial entity or a public body;

    • (b) the sending out of Canada, at the request of a client, of an electronic funds transfer of $10,000 or more in the course of a single transaction, together with the information referred to in Schedule 2 or 5, as the case may be; and

    • (c) the receipt from outside Canada of an electronic funds transfer, sent at the request of a client, of $10,000 or more in the course of a single transaction, together with the information referred to in Schedule 3 or 6, as the case may be.

  • (2) For greater certainty, paragraph (1)(b) does not apply when the money services business sends an electronic funds transfer to a person or an entity in Canada, even if the final recipient is outside Canada.

  • (3) Paragraph (1)(b) applies in respect of a money services business that orders a person or entity to which subsection (1), 12(1) or 24(1) applies to send an electronic funds transfer out of Canada, at the request of a client, unless it provides that person or entity with the name and address of that client.

  • (4) For greater certainty, paragraph (1)(c) does not apply when the money services business receives an electronic funds transfer from a person or an entity in Canada, even if the initial sender is outside Canada.

  • SOR/2002-184, s. 75
  • SOR/2003-358, s. 8
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