FINTRAC Compliance for Armoured Car Businesses

FINTRAC Obligations for Armoured Car Businesses

If your business transports currency, money orders, traveller's cheques, or other similar negotiable instruments, you are a reporting entity under the PCMLTFA. Armoured car companies are included because of their direct role in the physical movement of large volumes of cash, which creates inherent money laundering risk.

Your obligations are consistent with other reporting entities: report certain transactions to FINTRAC, identify your clients, maintain records, and operate a compliance program.

What You Must Do

• File Large Cash Transaction Reports (LCTR) when you receive $10,000 or more in cash in a single transaction or across aggregated transactions within 24 hours from the same client. Deadline: 15 calendar days.
• File Suspicious Transaction Reports (STR) when you have reasonable grounds to suspect a transaction is related to money laundering or terrorist financing. Deadline: as soon as practicable.
• Verify client identity for businesses and individuals that use your services at or above prescribed thresholds.
• Maintain records of transactions, client identification, and reports for at least five years.
• Operate a compliance program with policies, procedures, a compliance officer, risk assessment, and staff training.

Industry-Specific Compliance Risks

Armoured car businesses face unique AML challenges:

• Volume of cash handled: Your core business is moving large amounts of cash. Every pickup and delivery potentially crosses reporting thresholds. Tracking which transactions trigger obligations across dozens or hundreds of daily routes requires robust systems.
• Client diversity: You serve banks, retailers, casinos, and other cash-intensive businesses. Each client's risk profile is different, and your compliance program needs to account for that variation.
• Route-level monitoring: Cash pickups and deliveries happen across multiple routes and locations daily. Aggregating transactions by client across these routes to determine if reporting thresholds are met is an operational challenge.
• Employee risk: Employees who handle large amounts of cash are in a position to facilitate or overlook suspicious activity. Training and oversight are critical components of your compliance program.

How Comply+ Supports Armoured Car Compliance

Route and Client-Level Transaction Monitoring

Upload your daily pickup and delivery data. Comply+ aggregates cash movements by client across all routes and locations, identifying every transaction that meets the LCTR reporting threshold.

STR Detection

Our aiSTR technology monitors for suspicious patterns in your client activity: unusual cash volumes, irregular pickup schedules, and clients whose transaction patterns deviate from their expected profile.

Client Record Management

Comply+ maintains identification and transaction records for each client in your network. Records are organized and accessible for FINTRAC examinations.

Direct FINTRAC Submission

Submit LCTRs and STRs directly to FINTRAC from the platform with confirmation receipts and a complete audit trail.