Transaction reporting requirements
You are required to complete reports about certain transactions and property and submit them to FINTRAC.
Suspicious transactions
When there are reasonable grounds to suspect that a transaction or an attempted transaction is related to the commission or attempted commission of a money laundering (ML) or terrorist financing (TF) offence, you must submit a suspicious transaction report (STR). The following STR guidance pieces provide a detailed explanation of your requirements and all three should be read in conjunction with each other.
What is a suspicious transaction report? This guidance explains the value of STRs to FINTRAC and explains the steps that can be taken to determine if you have reasonable grounds to suspect that a transaction is related to ML or TF.
Reporting suspicious transactions to FINTRAC. This guidance explains in detail the steps that need to be taken in order to submit STRs to FINTRAC. This guidance includes details on how you can complete the narrative section of an STR as well as highlights common problems to avoid.
ML and TF indicators
These ML/TF indicators were developed by FINTRAC through a three-year review of ML/TF cases, a review of high quality STRs, published literature by international organizations such as the Financial Action Task Force (FATF) and the Egmont Group, and consultation with reporting entity sectors. Click below to access ML/TF indicators specific to your sector. Please note that these ML/TF indicators are not an exhaustive list.
- Money laundering and terrorist financing indicators - Accountants
- Money laundering and terrorist financing indicators - Agents of the Crown
- Money laundering and terrorist financing indicators - British Columbia notaries
- Money laundering and terrorist financing indicators - Casinos
- Money laundering and terrorist financing indicators - Dealers in precious metals and stones
- Money laundering and terrorist financing indicators - Financial entities
- Money laundering and terrorist financing indicators - Life insurance companies, brokers and agents
- Money laundering and terrorist financing indicators - Money services businesses
- Money laundering and terrorist financing indicators - Real estate
- Money laundering and terrorist financing indicators - Securities dealers
- Money laundering and terrorist financing indicators - Virtual currency transactions
Terrorist property reports
When you know that property in your possession or under your control is owned, controlled by or on behalf of a terrorist or a terrorist group, you must submit a report.
Large cash transactions
When you receive $10,000 CAD or more in cash, either in a single transaction or in multiple transactions, within a 24-hour period you must submit a report within 15 calendar days.
- Guideline 7A: Submitting Large Cash Transaction Reports to FINTRAC electronically
- Guideline 7B: Submitting Large Cash Transaction Reports to FINTRAC by paper
Alternative to large cash transactions
If you are a bank, credit union, caisses populaire, trust company, loan company or agent of the Crown that accepts deposit liabilities, you may choose the alternative to large cash transaction reporting for corporate clients that meet specific conditions.
Electronic funds transfers
When you send or receive instructions to transfer $10,000 CAD or more internationally, either in a single transaction or in multiple transactions, within a 24-hour period you must submit a report within 5 business days.
- Guideline 8A: Submitting non-SWIFT Electronic Funds Transfer Reports to FINTRAC electronically
- Guideline 8B: Submitting SWIFT Electronic Funds Transfer Reports to FINTRAC
- Guideline 8C: Submitting Non-SWIFT Electronic Funds Transfer Reports to FINTRAC by paper
Casino disbursements
When you disburse $10,000 CAD or more, either in a single transaction or in multiple transactions, within a 24-hour period you must submit a report within 15 calendar days.
- Guideline 10A: Submitting Casino Disbursement Reports to FINTRAC electronically
- Guideline 10B: Submitting Casino Disbursement Reports to FINTRAC by paper
FINTRAC provides guidance to help individuals and entities understand their obligations under the PCMLTFA and its associated Regulations and how they may be assessed in an examination. However, this should not be considered to be legal advice. Please refer to the PCMLTFA and its associated Regulations for the full description of the obligations.
- Date Modified: