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Fintrac Compliance Program 2025
First Section
Introduction
Training Unit 1 - What is FINTRAC?
FINTRAC Mandate and Legislation
Defining Money Laundering
Three Stages of Money Laundering
Defining Terrorist Financing
Money Laundering, Terrorist Financing and Real Estate
Statistics - Connections with Fraud and Drug Crime
Question - Stages of Money Laundering
8 Common RE Money Laundering Schemes
What to Watch For - Indicators & Brief
Question - Foreign Buyers
Answer - Foreign Buyers
Question - Source of Funds
Answer - Source of Funds
Question - Connection to Buyers
Answer - Connection to Buyers
Question - Cancelled Deals
Answer - Cancelled Deals
Terrorist Financing & Movement of Money
FINTRAC Obligations
A Registrant's Role and Obligations
How Does FINTRAC Help?
Non Compliance Penalties
FINTRAC Obligations Job Aid
Training Unit 2 - Fulfilling Know-Your-Client Obligations
Introduction
Question - Actions You Take
Top Deficiencies in Real Estate
Know-Your-Client Obligation
Question - Know-Your-Client: Questions to Ask
Answer - Know-Your-Client: Questions to Ask
Know Your Client - Vetting New Buyers/Sellers
Know-Your-Client - Determine Property Types and Purposes
Know-Your-Client- About the Family
Verifying Client Identity - Individuals (Present and NOT physically present)
Verifying Client Identity Methods: Photo ID, Credit File, Dual Process
Question - Photo ID Options
Question - Foreign IDs
Question - Photo ID Authenticity
Question - ID Jurisdiction
Answer - ID Jurisdiction
Photocopying IDs
Credit File Method
When You Need the Dual Process Method
Using the Dual Process Method
Verifying Client Identity - Corporations
Foreign Buyers/Sellers and Agents/Mandataries
Monitoring Ongoing Business Relationships
Determine Third-Party Involvement
Training Unit 3 - Fulfilling Reporting and Brokerage Obligations
Reporting & Recordkeeping Requirements - Unit Overview
Reporting Requirements
Questions - Suspicious Transaction Reports
What STRs Reveal
Reasonable Grounds to Suspect
Suspicious Transaction Reports
Filing a Suspicious Transaction Report
Characteristics of a Good STR
Submitting a STR
Large Cash Transaction Reports (LCTR)
What to Include in an LCTR
How to Submit an LCTR
Terrorist Property Reporting
TPR - Watch Lists
List of Terrorist Entities
How to Submit a TPR
Record-keeping Requirements
Client Information Records
Common Errors - Client Information Records
Receipt of Funds Records
Corporations and Money Laundering/Terrorist Financing
Unrepresented Party Records
Training Unit 4 - Brokerage Obligations
At the Brokerage Level - Obligations
Salespersons and Brokerage Obligations
Name a Compliance Officer
Written Compliance Policies and Procedures
Provide Training to Everyone Acting on its Behalf
Written Risk Assessments
2-Year Program Effectiveness Review
Training Unit 5: Fintrac Required Forms
Fintrac Required Forms
Training Unit 6: Fintracker App
Fintracker App Training Tutorial (13:17)
Resources
FINTRAC RESOURCES
Reasonable Grounds to Suspect
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