Foreign exchange operations require meticulous compliance tracking for currency transactions, international transfers, and regulatory reporting. Comply+ simplifies FINTRAC reporting for foreign exchange companies, many of which are registered as Money Service Businesses (MSBs) and face the same compliance obligations.
Automatically detect and report large currency exchange transactions (LCTRs) and electronic fund transfers (EFTRs) with accurate currency conversion tracking. Our system handles multiple currencies and supports accurate currency conversion tracking for FINTRAC reporting.
Manage compliance for international wire transfers and cross-border transactions with automated EFTR detection and submission. Track all international currency movements and ensure timely reporting of transactions exceeding $10,000 CAD.
Handle transactions in multiple currencies with automatic conversion and reporting in Canadian dollars for FINTRAC compliance. Process transactions in USD, EUR, GBP, and other major currencies while maintaining accurate CAD reporting.
Money Service Businesses must file four main report types to FINTRAC under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). Understanding these requirements is critical for maintaining compliance and avoiding penalties.
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.
Deadline: Within 15 calendar days of the transaction
Required for virtual currency transactions valued at $10,000 or more CAD (single transaction or multiple adding up over 24 hours). Introduced in 2021 as Canada expanded AML rules to cover virtual currency.
Deadline: Within 5 working days
Required for international wire transfers of $10,000 or more (to or from foreign countries). Domestic EFTs within Canada are NOT reportable.
Deadline: Within 5 working days
Required when there are reasonable grounds to suspect a transaction is related to money laundering or terrorist financing. No dollar threshold—suspicion-based, not amount-based reporting.
Deadline: As soon as practicable after establishing reasonable grounds to suspect
Many foreign exchange companies are registered as Money Service Businesses (MSBs) and face the same enforcement risks. Recent MSB penalties demonstrate that compliance failures result in significant financial consequences.
Since many foreign exchange companies are registered as MSBs, they face the same compliance obligations and enforcement risks. Recent MSB penalties highlight the importance of maintaining effective compliance programs:
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
Failed to submit STRs and EFT reports, demonstrating FINTRAC's focus on reporting failures across all MSB types.
Read case studyUnder 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 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 for faster, more accurate detection.
Our proprietary aiSTR™ technology automatically flags high-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 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.