Armoured Car Businesses
We help armoured car service providers meet FINTRAC obligations with automated workflows, detailed recordkeeping, and built-in reporting tools — all tailored to the unique needs of cash transport operations.
Who Is It For?
These companies face unique AML compliance obligations when transporting large amounts of currency or similar assets. Our solutions help streamline reporting, ensure documentation accuracy, and reduce regulatory risk.
Industry Overview
The armoured car sector plays a critical role in transporting large volumes of physical currency and high-value assets across Canada. When a shipment involves CAD 10,000 or more, FINTRAC obligations are triggered. These include client identification, large virtual currency transaction reports, and suspicious transaction reports (STRs).
Failure to maintain accurate records or fulfill reporting obligations can lead to serious penalties under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). With cash volumes and scrutiny both rising, service providers must modernize compliance processes to avoid regulatory exposure.
Common Challenges
Our Solutions
Manual and inconsistent data collection
Capture sender and recipient details in real-time using compliant fields.
Ensure client ID is validated with acceptable FINTRAC methods (e.g., dual process, government-issued ID).
Missed or delayed large transaction reports
Trigger reporting workflows as soon as thresholds are crossed.
Complete and store Large Cash Transaction Reports (LCTRs) and Large Virtual Currency Transaction Reports (LVCTRs) with pre-filled fields.
Difficulty linking transport records to client identity
Easily link pickup/drop-off events to the client identity and reason for transfer.
Document nature and purpose of the transaction for enhanced auditability.
Risk of non-compliance during third-party pickups
- Third-party identification module Collect and verify details of non-client individuals physically involved in the transaction.
Time-consuming audit preparation
- Centralized records dashboard Store, access, and export five-year FINTRAC-compliant records instantly.
Services Relevant to This Industry
Compliant identity capture for individuals and businesses involved in cash transport.
Automated LCTR and LVCTR workflows for qualifying shipments.
Log context and client-service relationship with each high-value transfer.
Identify and verify third parties collecting or delivering funds on behalf of clients.
Document, assess, and escalate irregular activity using structured STR templates.
Automatically retain required data in a centralized, exportable format for five years.
Real-World Use Cases
Use Case 1: Client deposits $50,000 for transit to another financial institution
Identity verified using dual-process method. LCTR triggered and filed. Business relationship documented and stored.Visual suggestion: Workflow screen showing flagged transaction and completed LCTR.
Use Case 2: Third party arrives for cash pickup
Verification of third party conducted and linked to the primary client file. Transaction logged.Visual suggestion: Identity capture form with fields for third-party details.
Use Case 3: FINTRAC audit preparation
Compliance officer exports full records for selected month, including IDs, business relationships, and STRs filed.Visual suggestion: Dashboard screenshot showing export controls and audit timeline.
Integrations / Compliance
Frequently Asked Questions
Are we required to report if the funds are not ours?
Yes. If you're transporting currency or virtual assets of CAD 10,000 or more on behalf of others, you're obligated to report and identify clients.
Do I need to identify third-party individuals involved in pickup or delivery?
Yes. Identification must include those who physically transfer the funds, even if they’re not the client.
What types of ID verification are acceptable?
You can use government-issued photo ID, dual-process methods, or credit file confirmation, as outlined by FINTRAC.
How long must we retain records?
Records must be kept for a minimum of five years from the date of the transaction.
Can your system trigger reports automatically?
Yes. Workflows are triggered as soon as the system detects a qualifying transaction.
Getting Started
Ready to make compliance effortless and audit-ready for your cash transport operations? Modernize your reporting, mitigate risk, and stay ahead of regulatory demands with our tailored solutions.
Fill out the short contact form below or choose another convenient way to reach us. Our team is here to listen, answer your questions, and help you get compliant — fast.
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