Advisory Committee on Money Laundering and Terrorist Financing (ACMLTF)

Members of ACMLTF

Organizations

Finance Canada (Co-Chair)
BMO Financial Group (Co-Chair)
Financial Transactions and Reports Analysis Centre of Canada
Public Safety Canada
Office of the Superintendent of Financial Institutions
Investment Industry Association of Canada
Jewellers Vigilance Canada
Canadian Bankers Association
Canadian Credit Union Association
Small Bank Forum
BC Lottery Corporation
The Society of Notaries Public of British Columbia
Canadian Real Estate Association
Canadian Jewellers Association
Canadian Home Builders’ Association
Canadian Life and Health Insurance Association
Canadian Money Service Business Association
Chartered Professional Accountants of Canada
Desjardins Group

Terms of Reference

Co-Chairs

Permanent Co-Chair: Associate Assistant Deputy Minister, Financial Sector Policy Branch, Department of Finance

Rotating Co-Chair: Representative of the private sector for a three-year term, with approval of the Department of Finance.

Mandate

The ACMLTF is a high-level discussion forum to address emerging issues and provide general advice for Canada’s overall anti-money laundering and anti-terrorist financing (AML/ATF) policy. Members will be able to advise on Canada’s AML/ATF Regime both within a domestic context, including its effectiveness and efficiency, and in support of international AML/ATF developments. As well, it will provide an opportunity for the Government to provide valuable feedback to the private sector on overall AML/ATF trends and efforts. It is anticipated that this committee will benefit all participants by fostering more effective results for the Regime writ large.

Committee Membership

The ACMLTF will consist of approximately 20-25 members. Members would be senior-level representatives of public and private sector stakeholder organizations.

Public sector participants will consist of representatives of the Department of Finance, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), the Office of the Superintendent of Financial Institutions (OSFI) and Public Safety Canada. Invitations would be extended to other public sector representatives on an as-needed basis.

Private sector participants will consist of a mix of representatives of industry associations, institutions and organizations from sectors covered by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and other AML/ATF experts. Representation will be drawn from sectors including financial entities, life insurance companies, securities dealers, money service businesses, accountants, the notarial profession, the real estate sector, casinos, dealers in precious metals and stones, and home builders.

Private sector representatives will have membership in the ACMLTF for three year terms, subject to renewal. Final appointments will be at the discretion of the Department of Finance. No substitutes will be permitted on the ACMLTF to ensure continuity and consistency.

Frequency

The ACMLTF will meet twice per year or more frequently, if necessary.

Working Groups

The ACMLTF will form ad hoc working groups on specific topics as needed and report to the Committee as required. The Committee will assign working groups with mandates, including timing for completion of work and when and how to report back to the Committee. Working groups will be chaired or co-chaired by members of the public or private sector. Working groups will meet on an ad hoc or as needed basis in either Toronto or Ottawa or by conference call or videoconference as decided by the Co-Chairs of the working groups. Membership will consist of technical experts in the subject matter and public and private sector representatives with an interest in the topic. The proposed working groups will facilitate more focused interactions between private and public sector partners.

Proceedings

Summary notes of meetings will be taken and made available to all members. The proceedings of the ACMLTF could be subject to Access to Information requests.

Confidentiality

Members of the ACMLTF are expected to keep information discussed and documents shared within the ACMLTF and working groups confidential.

Related Information

Proceeds of Crime (Money Laundering) and Terrorist Financing Act (S.C. 2000, c. 17)

Canada Gazette, Part I, Volume 152, Number 23: Regulations Amending Certain Regulations Made Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, 2018

Reviewing Canada's Anti-Money Laundering and Anti-Terrorist Financing Regime

Statutory Review of the Proceeds of Crime and Terrorist Financing Act