FINTRAC

If you’ve been asked to show identification for a transaction, even as a long-time customer, you may wonder why it’s necessary. These requests are part of Canada’s efforts to combat money laundering and terrorist financing, ensuring the safety of our financial system.What is the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA)?The Proceeds of Crime (Money Launder…

Have you ever received a call, email, or social media message claiming to be from FINTRAC? Be cautious! Scammers often impersonate government agencies to steal personal and financial information.In this blog post, we’ll outline how to identify and avoid FINTRAC scams, and what to do if you’re targeted.FINTRAC Won’t Ask for Personal Information DirectlyFINTRAC protects Canada’s financi…

Learn about the Financial Transactions and Reports Analysis Centre of Canada’s (FINTRAC’s) schedule and key milestones to implement important changes to its reporting forms. Learn More …

We’ve got some important updates in the world of finance and compliance. The Government of Canada recently announced new Regulations that are aimed at bolstering the country’s efforts to combat money laundering and terrorist financing. These changes not only introduce new obligations for specific sectors but also bring about a shift in how the Financial Transactions and Reports Analysis Centre of…

In the world of finance and compliance, staying up-to-date with regulatory changes is essential. Recently, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has rolled out some crucial updates that businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act) need to be aware of. These changes involve the implementation of a new Larg…

FINTRAC has released the fifth of a series of videos, focusing on the prescribed methods for verifying the identity of individuals or entities. This particular video demonstrates the utilization of the reliance method.All businesses falling under the purview of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its Regulations are obligated to verify the identi…

The Government of Canada has launched a public consultation to strengthen the country’s Anti-Money Laundering and Anti-Terrorist Financing (AML/ATF) Regime. This consultation is part of a parliamentary review of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). The government is seeking feedback from various stakeholders, including experts, civil society groups, gove…

FINTRAC publishes the fourth of a series of videos on prescribed methods that can be used to verify the identity of a person or an entity. This video explains how to use the affiliate or member method.To learn more, watch the video on Verifying the identity of a client: Affiliate or member method and refer to FINTRAC’s guidance on the Methods to verify the identity of persons and entities.

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has issued a fraud alert to warn the public about scams and fraudulent activities that try to obtain personal and financial information by imitating government services, including FINTRAC. The alert highlights that FINTRAC will never contact members of the general public to obtain personal or financial information, and it…