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Brief
The Part 5 and section 6-10.1 of the Act provides details on who is subject to the Act's provisions, including entities engaged in various activities such as money laundering and terrorist financing.
Section 7 of the Act requires every person or entity referred to in Section 5 to report to the Centre every financial transaction that occurs or that is attempted in the course of their activities and in respect of which there are reasonable grounds to suspect that:
- The transaction is related to the commission or the attempted commission of a money laundering offence
- The transaction is related to the commission or the attempted commission of a terrorist activity financing offence
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