Creating a robust compliance program is essential for entities regulated by FINTRAC, aiming to adhere to the PCMLTFA and its associated regulations. Such a program requires the appointment of a compliance officer, development of written compliance policies approved by senior management, risk assessments to identify ML/TF threats, ongoing compliance training for staff, and regular effectiveness reviews every two years. This foundation ensures businesses meet reporting, record keeping, and client identification requirements, playing a crucial role in preventing money laundering and terrorist financing activities.

For more detailed guidance, please refer to the FINTRAC page on compliance program requirements​​.