Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

66.1 (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 those as defined in subsection 1(2), but including transfers within Canada that are SWIFT MT 103 messages.

(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.