FINTRAC Compliance

FINTRAC stands for Financial Transactions and Reports Analysis Centre of Canada, an independent government agency that collects and analyzes information to help detect and prevent money laundering and terrorist financing activities. FINTRAC is responsible for ensuring compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and providing guidance on the obligations set by PCMLTFA.

Real estate brokers or sales representatives, and real estate developers must fulfill specific obligations as required by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated Regulations, to help combat money laundering and terrorist activity financing in Canada.