Securities dealers are reporting entities under the PCMLTFA. If you buy, sell, or deal in securities on behalf of clients, you have obligations to identify your clients, monitor transactions, report to FINTRAC, and maintain a compliance program.
The capital markets environment creates specific compliance dynamics. Client accounts can hold significant value. Transactions move quickly across markets and counterparties. Funds flow in and out of accounts through multiple channels. Each of these creates potential reporting triggers.
If a client deposits $10,000 or more in cash to their trading account, or if multiple cash deposits from the same client total $10,000+ within 24 hours, file an LCTR within 15 calendar days. While most securities transactions are electronic, cash deposits to brokerage accounts do occur and must be tracked.
International wire transfers of $10,000 or more into or out of client accounts require an EFTR within 5 working days. For dealers with clients who fund accounts from foreign jurisdictions or request transfers to overseas accounts, this is a significant reporting obligation.
File an STR when there are reasonable grounds to suspect a transaction is related to money laundering or terrorist financing. In securities, suspicious patterns include:
Deadline: As soon as practicable.
Upload client account activity as a CSV. Comply+ identifies all cash deposits and international wire transfers that meet reporting thresholds, generates pre-filled reports, and submits directly to FINTRAC.
Our aiSTR technology flags account activity that matches FINTRAC risk indicators for securities. This includes rapid in-and-out fund movements, accounts with unusual funding sources, and trading patterns that suggest layering. Each flag includes a draft narrative for your compliance review.
Comply+ maintains client identification records and links them to account-level transaction data. When FINTRAC examines your compliance program, your KYC documentation and reporting history are organized in one place.
All reports are submitted directly to FINTRAC from within the platform. Confirmation receipts, timestamps, and review decisions are logged automatically, giving you a complete audit trail for examinations.
Securities compliance requires monitoring at both the transaction and account level. Comply+ handles both, so your compliance team can focus on the judgement calls that require human expertise.
FINTRAC publishes official guidance on record keeping for securities dealers. For full details and current requirements, see: Record keeping requirements for securities dealers (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.