Suspicious Transaction Reporting for Reporting Entities
A suspicious transaction report has no dollar threshold and no room for error. We build the process that recognises genuine suspicion, files a defensible report on time, and keeps you clear of tipping off.
Suspicion, Not a Threshold, Triggers the Report
Unlike large cash or wire reports, a suspicious transaction report is not triggered by an amount. It is triggered by reasonable grounds to suspect a transaction relates to money laundering or terrorist financing. Any amount, completed or merely attempted, can require one, which is why judgement matters so much here.
The Grounds Are What FINTRAC Reads
Filing the report is the easy part. The skill is the narrative: articulating the specific facts and observations that led to your suspicion, clearly enough that FINTRAC can act on it. A report that simply states a conclusion without the grounds behind it is where examinations find weakness. We help your team write reports that stand up.
Suspicion Indicators
We define the indicators that tell your staff when suspicion genuinely arises.
Report Drafting
We help draft the grounds for suspicion so your report is clear and defensible.
Timely Filing
We build the process that submits your report to FINTRAC within the required deadline.
Tipping-Off Controls
We put controls in place so no one ever alerts a customer to a report.
Ready to Simplify Your Compliance?
Businesses We Support With STRs
We build suspicious transaction reporting for money services businesses, payment providers, cryptocurrency platforms, currency exchanges, real estate firms, and the many other reporting entities obligated to report under the PCMLTFA.
We support banks with program design, oversight, & regulatory examination readiness.
We help credit unions meet obligations proportionate to their membership and scale.
We handle registration, renewals, reporting, & controls FINTRAC expects from you.
We cover Bank of Canada registration alongside your anti money laundering obligations.
We establish what your wallet activity triggers, then build only what applies.
We build compliance around what your product does, before volumes and questions arrive.
We register virtual currency dealers and build the reporting their activity demands.
We support financial institutions across registration, program build, and reporting duties.
Why Businesses Choose Our Approach
Real Judgement
We train your team to recognise genuine suspicion, so you neither miss reports nor file empty ones that say nothing.
Defensible Grounds
We help you write the grounds for suspicion clearly, the part of the report FINTRAC actually reads and examiners scrutinise.
Stay Confidential
We build the controls that keep filing confidential, so you never breach the prohibition on alerting a customer.
Serving Businesses Across Canada
We build suspicious transaction reporting right across the whole of Canada, from Toronto and Montreal to Vancouver and Calgary, and for foreign reporting entities carrying Canadian obligations wherever they operate.
Let's Talk About Your Compliance Needs
Schedule a Free Consultation
Whether you’re starting a new MSB or need ongoing AML support, our team responds within one business day.
Suspicious Transaction Questions
Clear answers to the questions Canadian businesses ask most about filing suspicious transaction reports with FINTRAC under the PCMLTFA in Canada.
Is there a minimum amount?
No. A suspicious transaction report has no dollar threshold. It is triggered by reasonable grounds to suspect, regardless of the transaction amount.
How quickly must we file?
Once you establish reasonable grounds to suspect, the report must be submitted to FINTRAC within the timeframe the regulations require.
What exactly is tipping off?
Alerting a customer that you have filed or intend to file a report about them. It is prohibited and carries serious consequences.
Do attempted transactions also count?
Yes. If you have reasonable grounds to suspect, even an attempted transaction that never completes can require a suspicious transaction report.
What makes a report defensible?
Clear grounds for suspicion: the specific facts and observations behind your conclusion, documented so FINTRAC understands exactly why you reported.