match the name and appearance of the person being identified.include a unique identifying number and.be issued by a federal, provincial or territorial government (or by a foreign government if it is equivalent to a Canadian document).be authentic, valid and current Footnote 2.You may verify the identity of a person by referring to a government-issued photo identification document. Government-issued photo identification method You can use any of the 5 methods described below to identify a person. How do I verify the identity of a person? It helps you to know your clients and to understand and assess any risk that may be associated to their transactions or activities. Verifying identity is a foundational element of Canada's anti-money laundering and anti-terrorist financing regime and a key component of an RE's relationship with clients. It means to use the methods described in this guidance to ensure that the information in an identification document or from other informational sources matches the information that the person or entity provided. What does it mean to verify the identity of a person or an entity? When to verify the identity of persons and entities – Securities dealersġ.When to verify the identity of persons and entities – Real estate brokers or sales representatives, and real estate developers.When to verify the identity of persons and entities – Money services businesses and foreign money services businesses.When to verify the identity of persons and entities – Life insurance companies, brokers and agents.When to verify the identity of persons and entities – Financial entities.When to verify the identity of persons and entities – Dealers in precious metals and precious stones.When to verify the identity of persons and entities – Casinos.When to verify the identity of persons and entities – British Columbia notaries.When to verify the identity of persons and entities – Departments and Agents of the Crown.When to verify the identity of persons and entities – Accountants.Annex 5: Examples of reliable sources of information for the dual-process method.Annex 4: Examples of acceptable photo identification documents.Annex 3: Summary of methods to identify an entity and associated record keeping obligations.Annex 2: Summary of who can identify a person on your behalf.Annex 1: Summary of the methods to identify persons and associated record keeping obligations.**Note: Throughout this guidance, references to REs covered under paragraphs 5(a) to (g) of the PCMLTFA include: banks, authorized foreign banks, cooperative credit societies, savings and credit unions, caisses populaires, life insurance companies, trust companies, unregulated trust companies, loan companies, and securities dealers. Are there restrictions on the use of personal information?.Do I need to verify the identity of an entity if I have verified it previously?.How do I verify the identity of an entity?.Do I need to verify a person's identity if I have verified it previously?.Can I use an agent or a mandatary to verify the identity of a person on my behalf?.Government-issued photo identification method.How do I verify the identity of a person?.What does it mean to verify the identity of a person or an entity?.For specific information on when to verify the identity of a person or an entity (the timing requirement), see your RE sector's guidance on When to verify the identity of persons and entities. This guidance explains the methods that can be used to verify the identity of a person or an entity. The requirement to verify the identity of a person or an entity under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated Regulations applies to all reporting entities (REs). This guidance came into effect on June 1, 2021.
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