Bill C-25 Legislation

The introduction of Bill C-25 (Proceeds of Crime, Money Laundering, and Terrorist Financing Regulations),effective June 2008, requires all Canadian Financial Institutions to enhance client identification, record-keeping and reporting requirements in an effort to minimize the proceeds of crime as related to money laundering.

In order for Scotiabank to achieve compliance to this new legislative and regulatory requirement, and to help protect you, our Commercial Card cardholders, we are enhancing our identification and record-keeping process.

Here's What You Can Expect

During the card activation process (for any Canadian cardholder), the Bank's automated Voice Response Unit (VRU) will ask cardholders to enter their 'Date of Birth' (DOB) when they call to activate their card.

  • If the cardholder agrees to provide their DOB during the first card activation process, it will be recorded in MMDDYYYY format in a dedicated field on our processor's platform. When the DOB is successfully obtained, it will be retained and used for regulatory/compliance purposes only, should it ever be required.

  • If the cardholder declines to provide this information, the VRU will simply record the date and time that
    the Date-of-Birth was requested and will continue to activate the card in the usual manner.

  • Simple voice prompts will guide the cardholder through the above process.

Please note, that for the day-to-day management of our card programs, we will continue to authenticate our cardholders by utilizing their "Date of Significance" only . The Date of Significance is a date (in the MMYY format) that is chosen by the cardholder and need only be of significance to them (ie. date of daughter's wedding). The use of a "Date of Significance" for the purposes of cardholder authentication ensures compliance to the Personal Information Protection and Electronic Documents Act (PIPEDA) and the Privacy Act.

This new requirement applies to Canadian programs / cardholders only.

If you have any questions, contact your Scotiabank Program Manager or e-mail us at commercialcard@scotiabank.com.