Duhaime's Financial Crime & Anti-Money Laundering Law in Canada

The Proceeds of Crime (Money Laundering) and Terrorist Financing Act requires that reporting entities appoint a compliance officer responsible for the implementation of the organization’s anti-money laundering compliance program.

The compliance officer is a key part of the organization’s compliance program.  The compliance officer’s mandate typically involves:

• Oversight of the implementation of the compliance program.
• Oversight of the effectiveness of the compliance program to ensure compliance with the legislation.
• Identification of areas of concern that may present risks to the organization.
• Oversight of the review and audit of the compliance program.