Canada Expands Anti-Money Laundering Rules to Cover Real Estate, Gambling Industries

By Matt Squire

The Canadian government is broadening the scope of its anti-money laundering and anti-terrorist financing reporting requirements in the real estate and casino industries in a bid to bring the country's regime in line with international standards. The new regulations will require home builders to have customer identification, record keeping and transaction reporting programs, the Canadian Finance Department said in a statement Thursday. Casinos will be required to report and record any large disbursements to Canada's financial intelligence unit, the Financial Transactions and Reports Analysis Centre. The regulations, which will be published in the Feb. 20 edition of the Canada Gazette,...