Regulated entities need to continually review their AML and ATF compliance policies. Canada’s AML system is at an inflection point: The Proceeds of Crime (Money Laundering) and Terrorist Financing Act is up for a parliamentary review; a new structuring offence has been created, and reporting entities need to examine their business models and delivery channels to ensure compliance. Additionally, the next mutual evaluation of Canada is pending from the Financial Action Task Force. This past summer, the Department of Finance issued a policy consultation paper on a broad variety of potential changes to the AML system. What do these incoming regulatory and policy changes mean for you? What’s next? During this panel, we will explore:

• Canada’s AML and ATF Regime Strategy for 2023-2026
• Proposed amendments to the PCMLTFA
• Improving the way compliance information is shared between FINTRAC, OSFI, and the minister of finance
• How federal, provincial, and territorial governments are working on transparency and updates to key milestones of the collaboration
• Balancing the safeguarding of the integrity of Canada’s financial system while ensuring the safety and security of Canadians, and respecting Canadian individual rights and freedoms, including privacy rights