Proceeds of Crime (Money Laundering) and Terrorist Financing Act

Marginal note:Reporting — section 9

• 77 (1) Every person or entity that contravenes subsection 9(1) or (3) is guilty of an offence and liable on summary conviction to a fine of not more than $500,000 for a first offence and of not more than $1,000,000 for each subsequent offence.

• Marginal note:Reporting — section 11.43

  (2) Every person or entity that contravenes section 11.43, only insofar as it relates to any required reporting measure as contemplated by paragraph 11.42(2)(e) and specified in a directive issued under subsection 11.42(1), is guilty of an offence and liable on summary conviction to a fine of not more than $500,000 for a first offence and of not more than $1,000,000 for each subsequent offence.

• Marginal note:Due diligence defence

  (3) No person or entity shall be convicted of an offence under subsection (1) or (2) if they establish that they exercised due diligence to prevent its commission.