Politically Exposed Foreign Person Determination

Politically Exposed Foreign Person Determination (PDF version, 283 KB)

Politically Exposed Foreign Person Determination

What you need to know

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), collects, analyzes and discloses financial information and intelligence on suspected money laundering and terrorist financing activities. FINTRAC was created as part of a Canadian government initiative to fight money laundering and terrorist financing, both domestically and internationally. Individuals and entities who must report to FINTRAC are required to know their clients and asking for certain information is one way to do that.

Starting June 23, 2008, financial entities, securities dealers, money services businesses and life insurance companies, brokers and agents have to determine if their clients are politically exposed foreign persons. This is required following changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) for enhanced measures to detect and deter money laundering and terrorist financing, including laundering of the proceeds of international corruption.

Are you a politically exposed foreign person?

You are a politically exposed foreign person if you hold or you have ever held one of the following offices or positions in or on behalf of a foreign country:

You are also considered a politically exposed foreign person if you are a family member of an individual described above. In this context, a family member means one of the following:

When will the politically exposed foreign person determination be made?

You might be asked questions in the following circumstances:

What other information will be requested?

If you are a politically exposed foreign person, you will also be asked about the source of funds that were used for the transaction, or in the case of an account, that have been or are expected to be deposited.

To learn more about the PCMLTFA, FINTRAC and Canada's effort to combat money laundering and terrorist financing activities, visit our website: www.fintrac-canafe.gc.ca or call: 1-866-346-8722

To order a printed version of this publication, please send an email outlining your request to publications@fintrac-canafe.gc.ca. Include the following information in your email:

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