New regulations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) are coming into effect on April 1, 2026.

New Compliance Requirements for Financing & Leasing in Canada

New regulations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) come into effect on April 1, 2026.

These changes introduce enhanced compliance requirements for financing and leasing providers across Canada—designed to improve transparency and strengthen oversight of financial transactions.

What This Means for You

Financing and leasing partners are now directly responsible for meeting these regulatory requirements.

As part of this shift, you may receive requests for information or documentation directly from your financing provider in addition to OT Group. These communications are a standard part of the updated process and should be expected.

We work with established Canadian financing partners, including organizations such as Northpoint Commercial Finance and Wells Fargo, who operate within regulated compliance frameworks.

Information You May Be Asked to Provide

To meet compliance requirements, additional information may be required before agreements can be finalized:

Business Details
Your legal business name, registration number, and business address.

Ownership Structure
Details about individuals who own or control the business.

Identity Verification
Verification of individuals associated with the agreement using industry-standard methods.

These steps reflect expanded Know Your Customer (KYC) practices now applied across financing and leasing transactions in Canada.

Why These Changes Are Happening

These updates are part of a nationwide initiative led by FINTRAC (Canada’s financial intelligence unit) to strengthen anti-money laundering measures and improve financial transparency.

The requirements apply consistently across the industry and are not specific to any one provider or partner.

What to Expect Moving Forward

For most customers, these changes will be incorporated into existing processes with minimal disruption.

Your OT Group representative or financing partner will guide you through any additional steps if required, ensuring the process remains clear and efficient.

Questions or Concerns?

We understand that new information requests may take some adjustment. The goal is to keep the experience straightforward, secure, and aligned with your expectations.

Reference
Government of Canada: https://gazette.gc.ca/rp-pr/p2/2025/2025-03-26/html/sor-dors68-eng.html