{"id":36854,"date":"2023-07-13T12:03:03","date_gmt":"2023-07-13T16:03:03","guid":{"rendered":"https:\/\/www.cccc.org\/news_blogs\/?p=36854"},"modified":"2023-07-13T12:03:06","modified_gmt":"2023-07-13T16:03:06","slug":"dept-of-finance-consultation-anti-money-laundering-anti-terrorist-financing","status":"publish","type":"post","link":"https:\/\/cccc.org\/news_blogs\/legal\/2023\/07\/13\/dept-of-finance-consultation-anti-money-laundering-anti-terrorist-financing\/","title":{"rendered":"Dept of Finance Consultation \u2013 Anti-Money Laundering &amp; Anti-Terrorist Financing"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">The Consultation<\/h2>\n\n\n\n<p>The Department of Finance\u2019s consultation on Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) Regime is open until August 1, 2023.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The Consultation Paper<\/h2>\n\n\n\n<p>While the consultation paper is very long, there is one question specifically tailored to the non-profit sector. In Chapter 6 \u2013 Information Sharing, section 6.2 \u2013 Public-to-Private Information Sharing, the consultation paper asks for feedback on <a href=\"https:\/\/www.canada.ca\/en\/department-finance\/programs\/consultations\/2023\/strengthening-canada-anti-money-laundering-and-anti-terrorist-financing-regime\/consultation-on-strengthening-canadas-anti-money-laundering-anti-terrorist-financing-regime.html#non-profit-sector\" target=\"_blank\" rel=\"noreferrer noopener\">Non-Profit Sector Outreach<\/a>.<\/p>\n\n\n\n<p>The paper comments that Canada\u2019s non-profit sector \u201cplays a key role in our society and provides valuable services to Canadians.\u201d At the same time, \u201csome of the features\u201d of the sector \u2013 raising funds, disbursing funds, providing international aid, working amidst natural disasters and conflict \u2013 \u201ccan also be exploited by bad actors for illegitimate purposes.\u201d<\/p>\n\n\n\n<p>As such, Finance wants to create an effective means of communication between itself, CRA and the sector to ensure that charities understand risks of money laundering and terrorist financing, and to receive feedback.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The Question<\/h2>\n\n\n\n<p>The key question is:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>How could the government improve outreach and engagement with the non-profit sector on AML\/ATF matters?<\/p>\n<\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\">The Examples<\/h2>\n\n\n\n<p>One example in the paper is \u201cdeveloping a new forum\u201d for non=profits, Finance, CRA and financial institutions to \u201cengage on strategic issues.\u201d The paper points to international examples:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>UK Tri-Sector Working Group: \u201ca platform for dialogue aimed at addressing the challenges of delivering aid in high-risk contexts\u201d (see UK House of Commons <a href=\"https:\/\/committees.parliament.uk\/publications\/22303\/documents\/164955\/default\/\" target=\"_blank\" rel=\"noreferrer noopener\">International Development Committee Report<\/a> at p7); it includes NGOs, banks, government departments and regulators<\/li>\n\n\n\n<li>United States: Treasury Department and non-profit sector working group; Treasury\u2019s <a href=\"https:\/\/home.treasury.gov\/policy-issues\/terrorism-and-illicit-finance\/protecting-charitable-organizations\" target=\"_blank\" rel=\"noreferrer noopener\">private sector outreach<\/a> seeks to \u201cidentify terrorist financing risks, clarify obligations and best practices, facilitate compliance with US law, and help promote charitable giving while reducing the threats of terrorist abuse\u201d<\/li>\n\n\n\n<li>New Zealand <a href=\"https:\/\/www.charities.govt.nz\/charities-in-new-zealand\/charities-sector-group\/\" target=\"_blank\" rel=\"noreferrer noopener\">Charities Sector Group<\/a>: \u201cdiscuss priorities, issues and perspectives, with the aim of strengthening the collective understanding of the charitable sector and Charities Services\u2019 work\u201d<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">The Deadline<\/h2>\n\n\n\n<p>The consultation closes on August 1, 2023.<\/p>\n\n\n\n<p>To submit your feedback, you can email <a href=\"mailto:fcs-scf@fin.gc.ca\">fcs-scf@fin.gc.ca<\/a> with \u201cConsultation Submission\u201d as the subject line, or you can mail to:<\/p>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<p>Director General<\/p>\n\n\n\n<p>Financial Crimes and Security Division<\/p>\n\n\n\n<p>Financial Sector Policy Branch<\/p>\n\n\n\n<p>Department of Finance Canada<\/p>\n\n\n\n<p>90 Elgin Street<\/p>\n\n\n\n<p>Ottawa, ON<\/p>\n\n\n\n<p>K1A 0G5<\/p>\n\n\n\n<p><\/p>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">The Existing Consultation Mechanisms<\/h2>\n\n\n\n<p>The two main existing consultation mechanism for CRA are:<\/p>\n\n\n\n<p>1.<a href=\"https:\/\/www.canada.ca\/en\/revenue-agency\/services\/charities-giving\/charities\/guidance-videos-forms\/technical-working-issues-group.html\">Technical Issues Working Group<\/a> (TIWG)<\/p>\n\n\n\n<p>The Technical Issues Working Group&#8230;<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p> \u2026provides a forum to discuss trends and technical issues in the charitable sector, to explore workable solutions, and expand the directorate\u2019s understanding of the sector.<\/p>\n<\/blockquote>\n\n\n\n<p>The TIWG includes CRA, Department of Finance and members with charitable sector experience (umbrella organizations lawyers, accountants, registered charities).<\/p>\n\n\n\n<p>CCCC is a member of the current TIWG.<\/p>\n\n\n\n<p>2. <a rel=\"noreferrer noopener\" href=\"https:\/\/www.canada.ca\/en\/revenue-agency\/programs\/about-canada-revenue-agency-cra\/corporate-reports-information\/advisory-committee-charitable-sector.html\" target=\"_blank\">Advisory Committee on the Charitable Sector<\/a> (ACCS)<\/p>\n\n\n\n<p>The ACCS&#8230;<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u2026is a consultative forum for the Government of Canada to engage in meaningful dialogue with the charitable sector, to advance emerging issues relating to charities, and to ensure the regulatory environment supports the important work that charities do.<\/p>\n<\/blockquote>\n\n\n\n<p>The ACCS includes CRA, Department of Finance and up to 17 members with experience in the charitable sector (umbrella organizations, professional associations, academics, lawyers, registered charities).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Consultation The Department of Finance\u2019s consultation on Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) Regime is open until August 1, 2023. The Consultation Paper While the consultation paper is very long, there is one question specifically tailored to the non-profit sector. In Chapter 6 \u2013 Information Sharing, section 6.2&#8230; <a href=\"https:\/\/cccc.org\/news_blogs\/legal\/2023\/07\/13\/dept-of-finance-consultation-anti-money-laundering-anti-terrorist-financing\/\" class=\"linkbutton\">More<\/a><\/p>\n","protected":false},"author":10,"featured_media":36859,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ts_fic_featured_image_caption":"Close-up image of a variety of Canadian and American paper currency; Photo by <a href=\"https:\/\/unsplash.com\/pt-br\/@piggybank?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText\">PiggyBank<\/a> on <a href=\"https:\/\/unsplash.com\/photos\/2Gc75AKn18M?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText\">Unsplash<\/a>   ","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[137],"tags":[240,418,163,703,424],"series":[],"class_list":["post-36854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-charities","tag-consultation","tag-cra","tag-department-of-finance","tag-federal-government"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dept of Finance Consultation \u2013 Anti-Money Laundering &amp; Anti-Terrorist Financing - CCCC Blogs<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cccc.org\/news_blogs\/legal\/2023\/07\/13\/dept-of-finance-consultation-anti-money-laundering-anti-terrorist-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dept of Finance Consultation \u2013 Anti-Money Laundering &amp; Anti-Terrorist Financing - CCCC Blogs\" \/>\n<meta property=\"og:description\" content=\"The Consultation The Department of Finance\u2019s consultation on Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) Regime is open until August 1, 2023. 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Unlike Budget 2022, which brought significant changes to the disbursement quota and allowed charities to fund non-charities through qualifying disbursements, Budget 2023 is quiet on the charitable front.\u2026","rel":"","context":"In \"Budget 2023\"","block_context":{"text":"Budget 2023","link":"https:\/\/cccc.org\/news_blogs\/tag\/budget-2023\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/cccc.org\/news_blogs\/wp-content\/uploads\/2023\/04\/20220408-Budget.png?fit=600%2C600&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/cccc.org\/news_blogs\/wp-content\/uploads\/2023\/04\/20220408-Budget.png?fit=600%2C600&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/cccc.org\/news_blogs\/wp-content\/uploads\/2023\/04\/20220408-Budget.png?fit=600%2C600&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":28511,"url":"https:\/\/cccc.org\/news_blogs\/legal\/2019\/08\/15\/bc-societies-act-consultation\/","url_meta":{"origin":36854,"position":3},"title":"BC Societies Act Consultation","author":"Deina Warren","date":"August 15, 2019","format":false,"excerpt":"Authored by Deina Warren The British Columbia Ministry of Finance is looking for input on proposed amendments to the Societies Act.[1] The Societies Act came into force on November 28, 2016 and since that time the government has been monitoring the implementation and application of the Act, as explained in\u2026","rel":"","context":"In \"British Columbia\"","block_context":{"text":"British Columbia","link":"https:\/\/cccc.org\/news_blogs\/tag\/british-columbia\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":29138,"url":"https:\/\/cccc.org\/news_blogs\/legal\/2020\/06\/01\/covid-19-cews-consultation\/","url_meta":{"origin":36854,"position":4},"title":"COVID-19: CEWS Consultation","author":"Deina Warren","date":"June 1, 2020","format":false,"excerpt":"Have you applied for the Canada Emergency Wage Subsidy (CEWS)? 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