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Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

Version of section 66.1 from 2008-06-23 to 2009-06-22:

  •  (1) The prescribed persons or entities for the purpose of section 9.5 of the Act are every financial entity, money services business and casino that is required to keep a record under these Regulations in respect of an electronic funds transfer referred to in subsection (2).

  • (2) Subject to subsection (3), the prescribed electronic funds transfers to which section 9.5 of the Act applies are electronic funds transfers as defined in subsection 1(2) — but including transfers within Canada that are SWIFT MT 103 messages — that are sent at the request of a client by a means that allows for the information referred to in paragraph 9.5(a) of the Act to be included with the transfers.

  • (3) For greater certainty, subsection (2) does not apply in respect of

    • (a) a transfer carried out using a credit or debit card, if the recipient has an agreement with the payment service provider permitting payment by such means for the provision of goods and services;

    • (b) a transfer where the recipient withdraws cash from their account;

    • (c) a transfer carried out by means of a direct deposit or a pre-authorized debit ; or

    • (d) a transfer carried out using cheque imaging and presentment.

  • SOR/2007-122, s. 66
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