Suspicious Transaction Reports

FINTRAC Suspicious Transaction Reports (STR) Guide

Everything you need to know about STR requirements, detection, filing processes, and how Comply+ automates suspicious transaction monitoring for Canadian MSBs.

No Threshold
Any amount can be suspicious
ASAP
File as soon as practicable
$500K
Max penalty per violation

Common STR Red Flags & Indicators

Transaction Patterns

  • •Structuring transactions to avoid reporting thresholds
  • •Rapid movement of funds between accounts
  • •Large cash deposits followed by immediate transfers
  • •Transactions inconsistent with customer's business

Customer Behavior

  • •Reluctance to provide identification
  • •Nervousness or unusual urgency
  • •Lack of knowledge about transaction details
  • •Requesting specific denominations or payment methods

Geographic Risk

  • •Transactions involving high-risk jurisdictions
  • •Unusual routing through multiple countries
  • •Destinations with weak AML controls
  • •Trade-based money laundering patterns

Technology Indicators

  • •Unusual cryptocurrency conversion patterns
  • •Use of privacy coins or mixing services
  • •Multiple wallet addresses for single customer
  • •Inconsistent IP addresses or device patterns

How Comply+ AI Detects Suspicious Activity

Real-time Monitoring

24/7 surveillance of all transactions with instant alerts

AI Pattern Analysis

Machine learning identifies complex suspicious patterns

Automated Filing

Guided STR preparation and electronic submission

STR Requirements & Process FAQ

AI-Powered STR Detection

Never Miss Suspicious Activity Again

Comply+'s AI monitoring ensures 100% capture of suspicious transactions with intelligent prioritization and automated STR filing.

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