The DFSAC Wants To Protect Against Laundering Charges

After an agreement with ACAMS Montreal to fight more effectively against the Proceeds of criminality, the Council of Trade in Financial Services (DFSAC) announces that it will promote an amendment of legal protection related to its program professional liability insurance ALTEO. This amendment ensures including legal expenses in case of professional money laundering charges, and to the tune of $ 50,000 per claim and $ 250,000 per year.

In addition, a series of potential labor disputes, such as contract disputes or disputes with the tax authorities are part of the protection offered by ALTEO.

"Legal assistance we concocted for professionals in financial services is not limited exclusively to regulatory investigations that may suffer Council members said Mathieu Cauchon project manager at CAS Partners, the actuarial firm that designed the program . ALTEO is a unique program that allows an update professionals protections depending on the evolution of the changing face of the financial industry. "

and rider is part of the largest outreach effort against money laundering currently leads the Council to professionals in financial services.

"Too often, professionals think that are not involved in money laundering or terrorist financing. They mistakenly believe that they risk nothing in terms of legal obligations.

They feel that this responsibility rests on the shoulders of a superior or their employer. Nothing is more wrong. The law is clear on this point, "says Mario Gregoire, chairman and CEO of the Council.

"This innovation is in line with the Commission's objective of reducing the overall regulatory bill for all professionals in financial services, says Gregory.

Liability insurance is a statutory obligation for our professionals. In gill innovative insurance offer and continuous training offer that is valid, the Council generates added value for the whole industry.

The Council invites all professionals to take this concrete fallout of associative strength, "he concludes.