Equifax Canada Bridges the Compliance Gap with New Anti-Money Laundering Solution

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TORONTO, ONTARIO--(Marketwired - Feb. 23, 2017) - Equifax Canada (NYSE:EFX), a leading provider of anti-money laundering (AML) products, announced today the launch of AML Assist™, a new solution designed to help Canadian financial institutions comply with the recently amended Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) regulations.

AML Assist empowers reporting entities to implement their compliance strategies and fulfill their identity verification obligations under FINTRAC's new PCMLTFA regulations and guidelines. The solution also helps reporting entities gain insight to identify risk and obtain information that will assist with record keeping requirements.

By June 30th, 2017, all reporting entities must comply with the new guidelines. Those that do not comply by that date and fail to accurately report and keep a record of client identification are subject to new criminal and monetary penalties.

As a registered Canadian credit bureau, Equifax is an aggregator of separate and reliable sources that can be used to help reporting entities implement the identity verification methods set out in the new guidelines. With AML Assist, customers have the option to subscribe to a Single Source verification solution, Dual Source verification solution or an automated cascade from Single to Dual Source. This is enabled by Equifax's new technology platform which has been designed to transform multiple sources of data into comprehensive insights quickly and easily.

"We have worked closely with FINTRAC and Department of Finance regulators to create a solution that aligns with FINTRAC's intent and expectations," said Tara Zecevic, Vice President, Fraud Prevention and Identity Management at Equifax Canada. "Canadian businesses that are looking for a comprehensive solution that can be implemented by the guideline deadline can be confident that AML Assist delivers actionable information to strengthen AML compliance, and to ensure their methods of client authentication meet requirements and reporting obligations."

About Equifax

Equifax powers the financial future of individuals and organizations around the world. Using the combined strength of unique trusted data, technology and innovative analytics, Equifax has grown from a consumer credit company into a leading provider of insights and knowledge that helps its customers make informed decisions. The company organizes, assimilates and analyzes data on more than 820 million consumers and more than 91 million businesses worldwide, and its databases include employee data contributed from more than 6,600 employers.

Headquartered in Atlanta, Ga., Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region. It is a member of Standard & Poor's (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs approximately 9,400 employees worldwide.

Some noteworthy achievements for the company include: Ranked 13 on the American Banker FinTech Forward list (2015); named a Top Technology Provider on the FinTech 100 list (2004-2015); named an InformationWeek Elite 100 Winner (2014-2015); named a Top Workplace by Atlanta Journal Constitution (2013-2015); named one of Fortune's World's Most Admired Companies (2011-2015); named one of Forbes' World's 100 Most Innovative Companies (2015). For more information, visit www.equifax.com.



Media Contacts:
Andrew Findlater
SELECT Public Relations
afindlater@selectpr.ca
(416) 659-1197

Tom Carroll
Equifax Canada
MediaRelationsCanada@equifax.com
(416) 227-5290