legislation

New Obligations: Politically Exposed Persons and Heads of International Organizations 

Effective June 17, 2017, amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated regulations resulted in new obligations regarding politically exposed persons (PEPs)—both domestic and foreign— as well as heads of international organizations (HIOs). FINTRAC has published guidance describing these obligations.