On 4 May, Osler, Hoskin and Harcourt LLP published a guide to amendments to the regulations made under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the PCMLTFA) and which come into force on 1 June.  The amendments are the latest development in a series of ongoing changes that have been made to the PCMLTFA and its regulations since 2019, the changes include new definitions, new virtual currency obligations for all reporting entities, obligations for foreign money services businesses, obligations regarding PEP and heads of international organisations, beneficial ownership reporting obligations, prepaid card obligations etc.

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page, where contributions start as low as $3, at

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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