All FINTRAC guidance

From: Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) This page lists all the guidance on the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act) and associated Regulations developed by FINTRAC for reporting entities (businesses and individuals).

Note: FINTRAC provides guidance to help individuals and entities understand their obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act) and associated Regulations, including how you may be assessed in an examination. However, this should not be considered to be legal advice. Please refer to the Act and associated Regulations for the full description of your obligations.

On this page

• Sector-specific guidance
• Implementing a compliance program
• Knowing your client
• Transaction reporting
• Record keeping
• Other requirements
• Ministerial directives
• Related links

Sector-specific guidance

Select your business sector to find the guidance that applies to you.

• Accountants
• Agents of the Crown
• Armoured cars New as of July 1, 2024
• British Columbia notaries
• Casinos
• Dealers in precious metals and precious stones
• Financial entities
• Life insurance
• Money services businesses
• Mortgage New as of October 11, 2024
• Real estate
• Securities dealers

Implementing a compliance program

A documented and comprehensive compliance program is the basis of meeting all reporting entity obligations under the Act and associated Regulations.

• Compliance program requirements
• Risk assessment guidance

Knowing your client

Reporting entities must verify the identity of their clients for certain activities and transactions according to the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations.

• Methods to verify the identity of persons and entities
  • When to verify the identity of persons and entities – Accountants
  • When to verify the identity of persons and entities – British Columbia notaries
  • When to verify the identity of persons and entities – Casinos
  • When to verify the identity of persons and entities – Dealers in precious metals and precious stones
  • When to verify the identity of persons and entities – Departments and Agents of the Crown
  • When to verify the identity of persons and entities – Financial entities
  • When to verify the identity of persons and entities – Life insurance companies, brokers and agents
  • When to verify the identity of persons and entities – Money services businesses and foreign money services businesses
  • When to verify the identity of persons and entities – Real estate brokers or sales representatives, and real estate developers
  • When to verify the identity of persons and entities – Securities dealers
  • Politically exposed persons and heads of international organizations guidance for account-based reporting entity sectors
  • Politically exposed persons and heads of international organizations guidance for non-account-based reporting entity sectors
  • Politically exposed persons and heads of international organizations guidance for life insurance companies, brokers and agents

  Transaction reporting

  You are required to complete reports about certain transactions and property and submit them to FINTRAC. Financial transaction reports are critical to FINTRAC's ability to develop and disseminate financial intelligence.

  Suspicious Transaction Report

  • Reporting suspicious transactions to FINTRAC Added on April 8, 2024

  This guidance replaces the following guidance, which have been archived online:

  • Archived – What is a Suspicious Transaction Report
  • Archived – Reporting suspicious transactions to FINTRAC

  Suspicious transaction indicators

  • 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 precious 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

  Sanctions evasion

  • Report suspected sanctions evasion Added on June 25, 2024

  Terrorist Property Report

  Large Cash Transaction Report

  • Reporting large cash transactions to FINTRAC Updated on January 19, 2024

  This guidance replaces the following guidance, which have been archived online:

  • Archived - Guideline 7A: Submitting Large Cash Transaction Reports to FINTRAC electronically
  • Archived - Guideline 7B: Submitting Large Cash Transaction Reports to FINTRAC by paper

  Large Virtual Currency Transaction Report

  • Reporting large virtual currency transactions to FINTRAC Updated on October 23, 2023

  Electronic Funds Transfer Report

  • Reporting electronic funds transfers to FINTRAC Added on June 24, 2024

  This guidance replaces the following guidance, which have been archived online:

  • Archived - Guideline 8A: Submitting non-SWIFT Electronic Funds Transfer Reports to FINTRAC electronically
  • Archived - Guideline 8B: Submitting SWIFT Electronic Funds Transfer Reports to FINTRAC
  • Archived - Guideline 8C: Submitting Non-SWIFT Electronic Funds Transfer Reports to FINTRAC by paper

  Casino Disbursement Report

  • Reporting casino disbursement reports to FINTRAC Added on June 24, 2024

  This guidance replaces the following guidance, which have been archived online:

  • Archived - Guideline 10A: Submitting Casino Disbursement Reports to FINTRAC electronically
  • Archived - Guideline 10B: Submitting Casino Disbursement Reports to FINTRAC by paper

  24-hour rule

  • Reporting transactions to FINTRAC : The 24-hour rule Updated on October 23, 2023

  Travel rule

  Record keeping

  Reporting entities are responsible for keeping certain account, transaction and client identification records. These records are to be kept in such a way that they can be provided to FINTRAC within 30 days upon request.

  • Record keeping requirements for accountants
  • Record keeping requirements for departments and agents of the Crown
  • Record keeping requirements for British Columbia notaries
  • Record keeping requirements for casinos
  • Record keeping requirements for dealers in precious metals and precious stones
  • Record keeping requirements for financial entities
  • Record keeping requirements for life insurance companies, brokers and agents
  • Record keeping requirements for money services businesses and foreign money services businesses
  • Record keeping requirements for real estate brokers or sales representatives, and real estate developers
  • Record keeping requirements for securities dealers
  • Travel rule for electronic funds and virtual currency transfers

  Other requirements

  Money services business or foreign money services business registration

  Before beginning to operate in Canada, you must register your business with FINTRAC.

  Prepaid payment product

  Financial entities (including life insurance companies and entities that are life insurance brokers and agents) have prepaid payment product requirements when they offer such products to the public and maintain related accounts.

  Correspondent banking relationship

  New regulations coming into force in 2024

  Overview of the new regulations coming into force in 2024

  The Government of Canada published new regulations in the Canada Gazette, Part II (Volume 157, Number 21) that will further support Canada’s efforts to combat money laundering and terrorist activity financing, and strengthen FINTRAC’s ability to contribute to the protection of Canadians and Canada’s economy.

  More information and related web content will be created (or updated) before these new regulations come into force.

  If your business enters into a correspondent banking relationship with a foreign financial institution, you have specific obligations related to this agreement.

  Foreign branches, foreign subsidiaries and affiliates

  If you have foreign branches, foreign subsidiaries or affiliates, you have to develop policies to establish requirements with respect to record keeping and retention, and client identification.

  Ministerial directives

  Directives issued by the Minister of Finance for reporting entities to apply countermeasures to transactions coming from or going to designated foreign jurisdictions or entities; as well as the introduction of regulations to restrict financial transactions coming from or going to designated foreign jurisdictions or entities.

  • Ministerial directives and transactions restrictions
    • FINTRAC guidance related to the Ministerial Directive on Financial Transactions Associated with Russia issued on February 24, 2024
    • FINTRAC guidance related to the Ministerial Directive on Financial Transactions Associated with the Islamic Republic of Iran issued on July 25, 2020
    • FINTRAC guidance relating to the Ministerial Directive on the Democratic People's Republic of Korea (DPRK) issued on December 9, 2017

    Related links

    • Glossary
    • FINTRAC interpretation notices
    • Policy interpretations database
    • FINTRAC's Interpretation policy
    • Video 1 – Verifying the identity of a client: Government-issued photo ID method
    • Video 2 – Verifying the identity of a client: Credit file method
    • Video 3 – Verifying the identity of a client: Dual-process method
    • Video 4 – Verifying the identity of a client: Affiliate or member method
    • Video 5 – Verifying the identity of a client: Reliance method