Eli Udell of Perley-Robertson, Hill and McDougall LLP penned a summary of the effect of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act on Canadian real estate developers: Real Estate Developers And Money Laundering Law – What You Need To Know.
What Must a Developer Do To Comply?
1) Implementation of a “Compliance Regime”
2) Obligation to Report Certain Transactions
3) New Record-keeping Requirements
See:
