FINTRAC

Description

FINTRAC, or the Financial Transactions and Reports Analysis Centre of Canada, is the national financial intelligence agency of Canada. FINTRAC aims to stop financial fraud, money laundering, human trafficking, criminal cash flows, and terrorist funding methods. Agents are front-line operators in Real Estate transactions, which involve huge amounts of money. Therefore, they have an important role to play in ensuring FINTRAC compliance. This course is intended to educate Real Estate Salespersons or Brokers about a Brokerage’s role in reporting suspicious transactions as per the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. It will also give a detailed explanation of how to complete the necessary FINTRAC forms for Brokerage compliance with FINTRAC reporting. ​

Note: We recommend you also go through the following Documents for your better understanding of FINTRAC:​

• Seller Listing Agreement and Seller Customer Service Agreement​
• Buyer Representation and Customer Service Forms​
• Agreement of Purchase and Sale