Mortgage administrators, brokers, and lenders are reporting entities under the PCMLTFA. If you administer, arrange, or provide mortgage financing, you have obligations to verify client identity, monitor for suspicious activity, file reports with FINTRAC, and maintain a written compliance program.
Mortgage transactions involve large sums of money flowing between multiple parties: buyers, sellers, lenders, lawyers, and intermediaries. This complexity makes the mortgage process a known vulnerability for money laundering, and FINTRAC expects mortgage professionals to play an active role in detecting and reporting it.
If you receive $10,000 or more in cash in connection with a mortgage transaction (for example, a cash down payment), file an LCTR within 15 calendar days. While most mortgage payments are made electronically, cash components of transactions must still be monitored.
International wire transfers of $10,000 or more related to mortgage financing require an EFTR within 5 working days. This applies when funds for a down payment or mortgage repayment originate from outside Canada.
File an STR when you have reasonable grounds to suspect that a transaction is related to money laundering or terrorist financing. Suspicious patterns in the mortgage context include:
Deadline: As soon as practicable.
Upload your transaction and client data. Comply+ identifies reportable cash receipts and international wire transfers, generates pre-filled LCTRs and EFTRs, and submits directly to FINTRAC.
Our aiSTR technology flags mortgage-related transactions that match FINTRAC risk indicators: unusual funding sources, third-party payments, income inconsistencies, and rush-closing patterns. Each flag comes with a draft narrative for your team to review.
Comply+ stores client identification records alongside transaction data, creating a complete compliance file for each mortgage engagement. Retrieval during a FINTRAC examination is straightforward.
Submit all report types directly to FINTRAC from the platform. Confirmation receipts and a full audit trail are maintained automatically.
Mortgage transactions are large, complex, and involve multiple parties. Comply+ cuts through that complexity by automating the detection and reporting that FINTRAC requires from mortgage professionals.
FINTRAC publishes official guidance on record keeping for mortgage administrators, brokers and lenders. For full details and current requirements, see: Record keeping requirements for mortgage administrators, brokers and lenders (FINTRAC).
FINTRAC enforcement is intensifying. Recent penalties demonstrate that compliance failures result in significant financial consequences, with Bill C-2 increasing maximum penalties to $20 million for entities.
FINTRAC has imposed significant Administrative Monetary Penalties (AMPs) for compliance failures across multiple sectors.
December 2025 — Toronto, Ontario
Multiple compliance failures including no effective compliance regime, no proper risk assessment, and failures to submit EFT and LCT reports.
Read case studyDecember 2025 — Foreign MSB (Seychelles)
Failed to submit STRs for transactions with exposure to darknet marketplaces, sanctioned entities, and child sexual abuse material.
Read case studyOctober 2025 — British Columbia
2,593 violations including 1,068 unreported STRs, 1,518 unreported LVCTRs, and failure to comply with Ministerial Directive on Iran.
Read case studySeptember 2025 — Foreign MSB (Seychelles)
Unregistered foreign MSB, 2,952 unreported LVCTRs, and 33 unreported STRs linked to darknet marketplaces and illicit chemical trade.
Read case studyUnder Bill C-2 (tabled June 2025), maximum Administrative Monetary Penalties would increase dramatically:
Purpose-built for Canadian FINTRAC compliance. Automate reporting, reduce risk, and scale your operations.
Handle all FINTRAC transaction types with automated LCTR, LVCTR, EFTR, and STR detection and submission. Our system identifies reportable transactions across cash, virtual currency, and electronic funds transfers.
Our proprietary aiSTR™ technology automatically flags suspicious transactions and drafts FINTRAC-compliant narratives. Reduce false positives and ensure nothing falls through the cracks.
Scale your operations without increasing compliance overhead. Automate reporting workflows to handle growth from hundreds to thousands of transactions per month.
From batch uploads to direct FINTRAC submission — everything you need in one platform
Submit reports directly to FINTRAC securely. No need to log in to the FINTRAC website — everything is handled within Comply+.
For fully connected databases, enable autopilot for automatic submission of LCTRs, LVCTRs, and EFTRs. Our proprietary aiSTR™ technology handles suspicious transaction detection, requiring manual review only for STRs.
For non-connected databases, upload a CSV of transactions. Automatically detect required reports and generate draft LCTRs, LVCTRs, EFTRs, and STRs with AI-powered analysis.
Our proprietary aiSTR™ technology automatically flags high-risk transactions and drafts narratives aligned with FINTRAC risk indicators. You retain full control with manual overrides.
Maintain complete customer and location data with direct integrations to providers like SumSub. Reports auto-populate with existing records.
Create and save draft reports — including AI-generated STR narratives — for later completion. Work at your own pace with automatic data preservation.
Add STR extensions to existing reports (LCTR/LVCTR/EFTR/CDR) with one click. Fill only additional fields — no separate forms.
Risk Detection Settings
Recommended STR filing
Advanced risk flagging via AI. Machine learning flags suspicious transaction patterns — reducing false positives and helping teams act faster on STRs.
Direct Slack integration for no login STR review/submissions
Maximize risk detection with custom set, and AI-driven risk indicators
Set your risk indicator weightings, or let aiSTR optimize detection
Generate higher accuracy through reinforced learning
In 30 minutes, walk through how Comply+ helps you move from transaction data to draft reports, STR review with your team, and FINTRAC API submission without logging into the Web Reporting System (FWR) for each filing.
Upload a CSV or connect your system and see how Comply+ helps surface reportable activity for LCTR, LVCTR, EFTR, and CDR workflows.
See how aiSTR™ supports narrative drafts and how your team reviews and decides what is filed.
Follow submission through FINTRAC's API and where confirmations and status live in Comply+.
Enter your work email. We will open the calendar to schedule your demo.
Disclaimer
This page is provided for general informational purposes only and reflects our interpretation and opinions based on publicly available information at the time of writing. It does not constitute legal advice, financial advice, regulatory guidance, or a substitute for professional counsel. Reporting entities and businesses subject to FINTRAC obligations should consult qualified legal and compliance advisors before making decisions relating to FINTRAC, AML obligations, or compliance requirements.