Reporting entities must report suspicious and certain other transactions to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). This includes the following:
- financial entities such as banks (that is, those listed in Schedule I or II of the Bank Act) or authorized foreign banks with respect to their operations in Canada, credit unions, caisses populaires, financial services cooperatives, credit union centrals (when they offer financial services to anyone other than a member entity of the credit union central), trust companies, loan companies and agents of the Crown that accept deposit liabilities);
- life insurance companies, brokers and agents;
- securities dealers;
- money services businesses;
- agents of the Crown that sell money orders;
- accountants and accounting firms (when carrying out certain activities on behalf of their clients);
- real estate brokers, sales representatives and developers (when carrying out certain activities);
- dealers in precious metals and stones;
- public notaries and notary corporations of British Columbia (when carrying out certain activities on behalf of their clients); and
- for the purposes of suspicious transactions, employees of these reporting entities.
For more information about who is considered a reporting entity, consult the series of guidelines prepared by FINTRAC about reporting obligations.