Thank you, Mr. Chairman.
On behalf of ATM Industry Association of Canada, I would like to thank you for the invitation to participate in the review of the proceeds of crime and terrorist financing act.
My name is Curt Binns. I'm the executive director for ATMIA Canada. We are an independent, not-for-profit industry association engaged in non-competitive promotion of our industry. Our mission is to promote ATM convenience, growth, and usage worldwide to protect the ATM industry's assets, interests, good name, and public trust, and to provide education, best practices, political voice, and networking opportunities for members of our organization.
With over 830 members in Canada, ATMIA is proud to be the voice of the Canadian community. We support over 30,000 Canadian merchants and small business owners who operate ATMs in Canada. Millions of Canadians use safe, high-quality ATMs to obtain convenient access to their cash anywhere, any time, including remote areas and areas considered undeserving by our banks.
As a voice with regard to cash-dispensing ATMs, the ATMIA would like to use this opportunity to address the actual and perceived risks surrounding white label ATMs being used for the purposes of money laundering.
Since 1996, there has been only one criminal case involving white label ATM crimes in Canada. White label ATMs in Canada are regulated. Since 2009, white label ATMs have been subject to specific anti-money laundering regulations that require every ATM owner to provide a significant amount of information, including information about themselves, the source of cash used in the ATM, the location of the ATM, and details about the Canadian bank account to which the ATM will deposit funds to be withdrawn.
If a business owner has multiple ATMs or high-volume ATMs, he or she is also required to provide criminal background checks. The owner must file all of these documents with the regulators for an ATM to be operational. Regulations require annual audits and documentation.
In conclusion, the ATMIA takes the risk of money laundering seriously, and works with regulators and government agencies to help ensure that appropriate procedures and safeguards are in place to mitigate risk.
Thank you. I look forward to any questions.