New FINTRAC Video: Your 20-Minute Guide to AML Compliance in Canada

If you’re a business in Canada that deals with financial transactions, whether you’re a bank, credit union, real estate broker, casino, money services business (MSB), or any other reporting entity, staying compliant with Canada’s anti-money laundering and anti-terrorist financing (AML/ATF) regime is non-negotiable.

The good news? FINTRAC just made it a lot easier to get up to speed.

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has released a brand-new educational video titled “FINTRAC: An introduction for reporting entities”. This 20-minute overview is especially valuable for new businesses that have recently become subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its associated regulations.

You can watch it here:

What the video covers

The video walks you through the essentials in plain language:

• FINTRAC’s mandate – How Canada’s financial intelligence unit helps detect and deter money laundering, terrorist financing, and threats to the security of Canada.
• The threats – A clear explanation of money laundering, terrorist activity financing, and sanctions evasion.
• Risk-based approach & supervision – How FINTRAC assesses risk and supervises reporting entities.
• Compliance program requirements – The five mandatory pillars every reporting entity needs.
• Know Your Client (KYC) – Identifying clients, beneficial owners, and understanding business relationships.
• Reporting obligations – When and how to submit Suspicious Transaction Reports (STRs), Large Cash Transaction Reports, Electronic Funds Transfer reports, etc.
• Record-keeping rules – What documents you must keep and for how long.
• MSB/FMSB registration – Who needs to register with FINTRAC and the process.
• Ministerial directives – Additional obligations in high-risk situations or jurisdictions.
• Enforcement & penalties – What happens if you fall short (including administrative monetary penalties).

Why this matters right now

With the steady stream of regulatory updates, increasing geopolitical risks, and FINTRAC’s continued focus on high-risk sectors (real estate, MSBs, virtual assets, etc.), getting the basics right has never been more important. A single compliance gap can lead to significant penalties, we’ve seen AMPs climb into the hundreds of thousands (and occasionally millions) of dollars.

Even if you’re a seasoned compliance professional, the video is a great refresher and an excellent training tool for new staff or senior management who need to understand why your AML program exists.

Quick action items after watching

1. Compare your current compliance program against the five pillars highlighted in the video.
2. Double-check that your KYC, record-keeping, and reporting procedures are fully documented and up to date.
3. If you’re an MSB or FMSB, confirm your registration status is current.
4. Share the video internally, it’s short, clear, and officially produced by FINTRAC.

Need help?

FINTRAC encourages questions. Reach out directly:

📞 1-866-346-8722 (toll-free)
📧 guidelines-lignesdirectrices@fintrac-canafe.gc.ca

Final thought

Compliance isn’t optional, but understanding your obligations doesn’t have to be painful. This new video is one of the clearest, most accessible resources FINTRAC has ever released. Take 20 minutes today to watch it. Your future audit (and your bottom line) will thank you.

Contact us today for practical, plain-language guidance tailored to real estate professionals, MSBs, and other reporting entities across Canada.

Let’s make AML compliance simple, effective, and stress-free.