Suspicious Transactions
Ensure your business complies with Canadian sanctions laws and avoids unintentional violations with real-time sanctions screening.
Why Suspicious Transactions?
Reporting entities are legally obligated to report transactions that raise suspicion of money laundering or terrorist financing, regardless of dollar value. Failure to detect and report such activities can lead to serious legal and reputational consequences.
Our Suspicious Transaction Reporting (STR) service enables timely identification and escalation of red flags, offering complete audit trails, automated documentation, and streamlined submission to FINTRAC.
Who Is It For?
These businesses face increasing scrutiny under Canadaās Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and require a trusted system to comply with suspicious transaction reporting obligations.
Key Benefits
Automatically identify and report suspicious transactions in compliance with FINTRAC's expectations.
Detect and act on unusual patterns instantlyābefore they escalate into regulatory breaches.
Maintain detailed logs of detection logic, decision-making, and reports for audits.
Reduce manual work with automated data capture, case creation, and reporting.
Use Cases
How It Works
Features
Continuously scans for known red flags including layering, structuring, and third-party transactions.
Tailor detection rules to your organizationās risk profile and client base.
Assign, review, and approve STRs within your compliance team with full traceability.
Automatically logs decision paths, dates, names, and notes for every reportable incident.
Ensures that your STRs are complete, timely, and securely transmitted via accepted channels.
Frequently Asked Questions
What types of transactions must be reported?
Any transaction that gives reasonable grounds to suspect money laundering or terrorist activity financing, regardless of amount.
How quickly must I report a suspicious transaction?
As soon as practicable after the suspicion is formed. Delays could result in penalties.
Do I need to inform the client?
No. You are legally prohibited from disclosing to the client that a suspicious transaction report has been filed.
Can I submit the report electronically?
Yes, electronic reporting through FINTRACās system is standard and preferred.
What if Iām not sure whether something is suspicious?
If you have reasonable grounds for suspicion, you must file. Our system helps guide this determination with embedded red flag logic.
Getting Started
Suspicious transactions can expose your business to criminal misuse and severe fines. Our platform ensures you never miss a red flagāand stay compliant with confidence.
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 ā fast.
Contact Us
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