FINTRAC Canada: Verifying Client Identity with Dual-Process Method
action_requiredCanada·Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)·Wire Summary
FINTRAC’s video helps businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act in better understanding how to use the dual-process method to verify the identity of a client. Doing so helps take the anonymity out of financial transactions, which is one of the most important ways to protect Canada’s financial system from money laundering and terrorist financing activities.
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