Virtual Currency Reporting Workflows That Hold Up in an Audit
Prepare, review, and submit FINTRAC reports for virtual currency activity using workflows built for Canadian crypto businesses.
Crypto reporting breaks when on-chain activity, customer context, and reporting obligations are not aligned.
Most crypto teams struggle with LVCTR aggregation, STR narrative quality, and linking wallet activity to customer profiles.
Crypto reporting introduces complexity that traditional compliance workflows were not designed for.
Comply+ helps teams:
Prepare LVCTR, EFTR, and STR reports using structured workflows designed for virtual currency activity. Upload transaction data, apply aggregation logic, and generate draft reports for compliance review before submission.
Coming with aiSTR 2.0: integrate blockchain analytics signals into STR workflows, including address risk indicators and transaction patterns. Support more consistent suspicion assessment and narrative drafting.
Keep reporting quality consistent as volume grows. Structured workflows reduce reliance on manual tracking, inbox handoffs, and ad hoc review when flows spike.
Canadian reporting entities that deal in virtual currency must align on-chain activity, customer records, and FINTRAC obligations. For most crypto platforms, LVCTR is the highest-volume threshold report; STR quality and EFTR timing still matter when flows cross borders or involve suspicion.
Required when virtual currency transactions reach the reporting threshold. Aggregation across related transactions within 24 hours is often where teams lose consistency.
Threshold: $10,000+ CAD (single transaction or aggregated within 24 hours)
Deadline: 5 working days
Required when there are reasonable grounds to suspect a transaction is related to money laundering or terrorist financing (including sanctions evasion where applicable). No dollar threshold: suspicion-based, not amount-based reporting.
Threshold: None (suspicion-based)
Deadline: As soon as practicable after reaching reasonable grounds to suspect
Required for international electronic funds transfers of $10,000 or more (to or from foreign countries). Domestic EFTs within Canada are not reportable as EFTR.
Threshold: $10,000+ international transfers
Deadline: 5 working days
Required for cash transactions of $10,000 or more CAD in a single transaction or multiple transactions totaling $10,000+ within 24 hours from the same individual or entity. Only if applicable (e.g. fiat cash touchpoints); many crypto-native models file LCTR rarely compared with LVCTR.
Deadline: 15 calendar days from the transaction
Each reporting obligation is independent. Filing an STR does not replace LVCTR or EFTR requirements.
Comply+ is built for FINTRAC reporting workflows, not as a full transaction monitoring or blockchain analytics platform.
FINTRAC has demonstrated aggressive enforcement against cryptocurrency companies and virtual asset service providers. Recent penalties show that crypto companies face some of the highest penalties in FINTRAC's history.
FINTRAC has imposed some of its largest penalties on cryptocurrency companies and virtual-asset related MSBs, demonstrating the regulator's focus on this sector.
October 2025 — British Columbia
2,593 violations including 1,068 unreported STRs, 1,518 unreported LVCTRs, and failure to comply with Ministerial Directive on Iran. This is one of the largest penalties in FINTRAC history.
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 studyDecember 2025 — Foreign MSB (Seychelles)
Virtual-asset related MSB failed to submit STRs for transactions with exposure to darknet marketplaces, sanctioned entities, and child sexual abuse material.
Read case studyFINTRAC has demonstrated that foreign virtual asset service providers (VASPs) serving Canadian clients will be held to the same standards as domestic entities. The KuCoin and MP Technology Services cases show that:
Under Bill C-2 (tabled June 2025), maximum Administrative Monetary Penalties would increase dramatically:
FINTRAC's enforcement activity has reached record levels:
From batch uploads to direct FINTRAC submission — everything you need in one platform
Submit via FINTRAC API from within Comply+ without logging into FWR for each filing.
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. Comply+ helps identify required reports and generate draft LCTRs, LVCTRs, EFTRs, and STRs with AI-powered analysis to support faster, more consistent prep.
Our proprietary aiSTR™ technology helps flag higher-risk transactions and drafts narratives aligned with FINTRAC risk indicators. You retain full control with manual overrides and flexible selection during batch processing.
Maintain complete customer and location data with direct integrations to providers like SumSub, with more coming online soon. Reports auto-populate with existing records, while prompts ensure any missing information is captured.
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 LVCTR, EFTR, and STR prep, plus fiat LCTR where applicable.
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.