Electronic Fund Transfer
Ensure full FINTRAC compliance for large electronic funds transfers (EFTs) with our audit-ready service tailored for reporting entities in Canada.
Why Electronic Fund Transfer?
Canadaâs anti-money laundering (AML) regulations require reporting entities to submit a Large Virtual Currency Transaction Report (LVCTR) or Large EFT Report when transferring $10,000 CAD or more in a single transaction or series of related transactions within 24 hours.
Our service automates EFT compliance, ensuring timely reporting, accurate recordkeeping, and risk mitigation across your financial operations.
Who Is It For?
This service is ideal for:
If you send or receive large electronic funds transfersâdomestically or internationallyâyou are legally obligated to report and retain relevant information. This service simplifies that process.
Key Benefits
Automatically detect and report large EFTs in accordance with FINTRACâs thresholds and reporting timelines.
Avoid human error and penalties by automating detection, documentation, and submission.
Maintain data residency compliance with encrypted storage on Canadian servers.
Easily retrieve and present complete transaction records during a FINTRAC audit.
Use Cases
How It Works
Features
Detect qualifying EFTs as they happenâno delays, no oversights.
Tracks cumulative transfers over a 24-hour window and flags linked transactions.
Reduces data entry errors and ensures regulatory formatting.
Verifies and logs sender/receiver details, as required by FINTRAC.
Maintains an audit trail of all EFT-related actions and updates.
Frequently Asked Questions
What qualifies as a large EFT under FINTRAC rules?
Any single or series of electronic funds transfers totaling $10,000 CAD or more within a 24-hour period.
Do I need to report EFTs sent and received within Canada?
Yes. Both domestic and international transfers must be reported if they meet the threshold.
What if the client sends multiple smaller transfers?
Linked or related transactions within a 24-hour period must be combined to determine if the threshold is met.
Is the reporting process secure?
Yes. All data is encrypted in transit and at rest, with submissions made via FINTRACâs secure channels.
Where is the data stored?
All records are stored securely in Canada to meet national compliance and privacy regulations.
Getting Started
Simplify your compliance process for large electronic funds transfers. Get automated, audit-ready reporting that keeps your business secure and aligned with FINTRAC obligations.
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 â fast.
Contact Us
Thank you for your interest. You have multiple options to connect with us.
Use the form to send us a message.