FINTRAC Compliance Resources
As of today, the FINTRAC requirements are effective. The Proceeds of Crime (Money Laundering) and Terrorist Financing Act apply to mortgage brokers, lenders, and administrators (collectively referred to as “brokers”) as of October 11, 2024. Non-compliance may lead to significant consequences. FINTRAC has indicated a transition period for compliance, which should be sufficient for you to prepare, though the exact duration is not specified.
To assist you in preparing for these regulatory changes, CMBA-BC has created a comprehensive resource hub tailored for mortgage brokers. We have partnered with experts and solution providers to guide you through the compliance process.
An Introduction to FINTRAC Compliance Requirements
An Introduction to FINTRAC Compliance Requirements
On October 11, 2024, significant changes will take effect under the federal Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), which will impact mortgage brokers, administrators and lenders in Canada. These requirements will be administered by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). It is essential for professionals in the mortgage industry to understand and prepare for these changes to ensure compliance.
Learn More HereCOURSE
On-demand FINTRAC Compliance Course
Learn More HereFINTRAC Compliance Program Requirements
FINTRAC has released an informative video to guide you in understanding your responsibilities under anti-money laundering (AML) and anti-terrorist financing (ATF) regulations.
The following resources are available exclusively for members.
Please log in to your profile to access the full range of resources.
WEBINARS
UPCOMING WEBINAR – FINTRAC Online Live Course
This two-hour course in a meaningful way addresses the essential question: “What is a mortgage broker, lender, or administrator to do, in a very practical sense, to comply with FINTRAC’s requirements?” It explains the five pillars of a FINTRAC compliance program and provides practical suggestions as to how to comply with each pillar.
Learn More HereMAGAZINE ARTICLES
