The STR is one of the most valuable and unique report types submitted to FINTRAC.

enhance public awareness of ML/TF matters.

uncover vulnerabilities of Canada's financial system and.

detect trends and patterns related to ML/TF risks.

assist law enforcement in investigating or prosecuting offences related to ML/TF, as well as threats to the security of Canada.

FINTRAC assesses and analyzes the data from these reports and creates a picture that serves to uncover financial relationships and networks that will: Its mandate is to prevent, detect and deter ML/TF activities, while ensuring the protection of the information under its control.įor FINTRAC to achieve its mandate, regulated persons and entities (commonly referred to as reporting entities-REs) must implement the legislated requirements and set out specific measures in their compliance programs, including developing and implementing compliance policies and procedures for verifying the identity of clients, keeping records and submitting reports to FINTRAC. Footnote1įINTRAC operates within the legislative authority of the PCMLTFA and associated Regulations. What is a suspicious transaction report (STR)?Ī suspicious transaction report (STR) is a type of report that must be submitted to FINTRAC by an RE if there are reasonable grounds to suspect that a financial transaction that occurs or is attempted in the course of their activities is related to the commission or the attempted commission of an ML/TF offence.

Money laundering and terrorist financing indicators-Virtual currency transactionsġ.

Money laundering and terrorist financing indicators-Securities dealers.

Money laundering and terrorist financing indicators-Real estate.

Money laundering and terrorist financing indicators-Money services businesses.

Money laundering and terrorist financing indicators-Life insurance companies, brokers and agents.

Money laundering and terrorist financing indicators-Financial entities.Money laundering and terrorist financing indicators-Dealers in precious metals and precious stones.Money laundering and terrorist financing indicators-Casinos.Money laundering and terrorist financing indicators-British Columbia notaries.Money laundering and terrorist financing indicators-Agents of the Crown.Money laundering and terrorist financing indicators-Accountants.

Reporting suspicious transactions to FINTRAC.All references to the commission of an ML/TF offence also include the attempted commission of an ML/TF offence. **Note: All references to transactions should be read to include both attempted transactions and completed transactions. How can I assess my compliance with the obligation to submit STRs?.How does FINTRAC assess my compliance with the obligation to submit STRs?.What are reasonable grounds to suspect (RGS)?.

What measures do I need to take to submit STRs to FINTRAC?.What is a suspicious transaction report (STR)?.All reporting entities (REs) and employees of Res.Money laundering (ML) and terrorist financing (TF) indicators (ML/TF indicators).Reporting suspicious transactions to FINTRAC and.This guidance should be read in conjunction with the other suspicious transaction reporting guidance: An employee is only expected to report suspicious transactions to FINTRAC should they believe that their employer has not submitted a suspicious transaction report as prescribed by the PCMLTFA and associated Regulations. If you are a person who works for an RE and the RE is actively reporting suspicious transactions, we do not require duplicate reporting. All reporting entities (REs) and employees of REs must report suspicious transactions under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated Regulations.

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