Anti-money laundering information for lawyers, notaries and accountants

Last updated on April 23, 2026

Certain professions, such as lawyers, notaries, and accountants are more likely to encounter money launderers due to the nature of their work. These professions have an important role in combatting money laundering and financial crime.

If you're a lawyer, notary public, or paralegal, the new Legal Professions Act will impact you. The Act introduces:

Higher maximum fines for misconduct by legal professionals
A single regulatory body, Legal Professions British Columbia, to regulate all legal service providers in B.C. and make anti-money laundering rules for lawyers, notaries, and regulated paralegals

The Act received royal assent in May 2024. Most of its provisions are not yet in force.

Lawyers

Regulations for lawyers

Under the current Legal Profession Act, the maximum fine for misconduct for lawyers is $50,000.

When the new Legal Professions Act comes into force, the fine for misconduct for lawyers will increase to $250,000.

Resources for lawyers

The Law Society of B.C. plays a significant role in eliminating money laundering within the legal services profession, providing:

Anti-money laundering education and practice advice
Training on handling trust accounts to minimize money laundering risks
Investigation of lawyers suspected of being involved in money laundering

Learn more about the Law Society of B.C.’s anti-money laundering resources.

Notaries public

Regulations for notaries public

B.C. notaries public and notary corporations are:

Subject to the federal Proceeds of Crime (Money Laundering) Terrorist Financing Act
Responsible for reporting suspicious activities to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

Under the Notaries Act, the maximum fine for misconduct for notaries public is $5,000.

When the new Legal Professions Act comes into force, the fine for misconduct for notaries public will increase to $250,000.

Resources for notaries public

The Society of Notaries Public of B.C. (SNPBC) provides:

Regular updates on changes to anti-money laundering regulations and best practices
Anti-money laundering education for notaries public

Learn more about the SNPBC’s anti-money laundering resources.

Chartered Professional Accountants

Regulations for accountants

Since 2000, professional accountants and accounting firms have been:

Subject to the federal Proceeds of Crime (Money Laundering) Terrorist Financing Act
Responsible for reporting suspicious activities to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

In 2024, the B.C. government amended the Chartered Professional Accountants Act to provide more oversight for accounting professionals.

For financial professionals not regulated by the Chartered Professional Accountants of B.C., government is undertaking a full sector analysis to determine if further regulation is required.

Resources for accountants

The Chartered Professional Accountants of B.C. (CPABC) provides:

Regular updates on changes to anti-money laundering regulations
Courses for Chartered Professional Accountants to meet the anti-money laundering professional development requirement

Learn more about the CPABC’s anti-money laundering resources.

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