FINTRAC releases a dedicated video outlining key beneficial ownership requirements to assist reporting entities in complying with Canadian AML regulations

The video outlines the essential obligations for reporting entities to identify and verify the natural persons who ultimately own or control 25% or more of a corporation, trust, or other legal entity. It emphasizes that businesses must not only obtain this information—including names, addresses, and ownership structures—but also take “reasonable measures” to confirm its accuracy through official documents like articles of incorporation or the Corporations Canada registry…