Mortgage Professionals
Streamline client onboarding, risk assessments, and transaction monitoring—all while meeting your mandatory FINTRAC obligations. Compliance under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) is not optional—it is a legal requirement for all mortgage professionals in Canada.
Avoid costly penalties, maintain client trust, and stay audit-ready with a solution tailored to your needs.
Who Is It For?
This solution is built for mortgage professionals registered under provincial legislation and federally regulated financial institutions (FRFIs) who are subject to anti-money laundering (AML) obligations under the PCMLTFA.
Industry Overview
Canada’s mortgage industry plays a central role in the financial ecosystem but is exposed to risks such as identity fraud, illicit financing, and misrepresentation of client information. FINTRAC mandates robust compliance programs that include client identification, recordkeeping, and suspicious transaction reporting.
With stricter oversight and the digitization of real estate transactions, mortgage professionals must balance growth with compliance while avoiding penalties and reputational risks.
New Compliance Landscape: Bill C-2
Canada’s Bill C-2, currently in Parliament, introduces sweeping changes to anti-money laundering laws. It proposes:
Stricter penalties:
Individuals could face fines of up to $4 million per violation, while entities such as mortgage brokerages and lenders may face up to $20 million.
Cumulative penalties:
For multiple infractions, fines may rise to the greater of $4M or 3% of global income (individuals), and $20M or 3% of global annual revenue (entities).
Mandatory FINTRAC enrolment:
All regulated businesses, including mortgage professionals, must enrol with FINTRAC unless specifically exempted. This includes submitting detailed applications, renewing periodically, and updating business information as needed.
These changes make proactive compliance more important than ever. Our platform is built to help mortgage professionals not only meet existing rules but adapt to upcoming legislative shifts without disruption.
Common Challenges
Our Solutions
Smart Client Onboarding
Quickly collect, validate, and archive identification documents during the application process.
Instantly assess clients based on risk factors such as occupation, transaction type, and geography.
Identify unusual deposits or third-party activity indicative of suspicious behavior.
Generate Suspicious Transaction Reports (STRs) with one-click workflows.
Capture every required field to meet PCMLTFA and FINTRAC documentation standards.
Ensure compliance with real estate-related reporting obligations.
Store ID records, declarations, risk ratings, and transaction histories.
Full search and retrieval to simplify regulatory inspections.
Real-World Use Cases
Use Case 1: Client Onboarding for Business Purchase
A CPA helps a client purchase a business. Our platform collects beneficial ownership information, verifies identity, and establishes the business relationship in minutes.
Use Case 2: Monthly Monitoring for Long-Term Clients
An accounting firm offering ongoing CFO services automates monitoring. The system flags large virtual currency receipts and high-risk transactions with real-time alerts.
Use Case 3: Preparing for a FINTRAC Audit
An independent accountant undergoes a FINTRAC review. They export a complete audit package with client risk classifications, documents, and action logs in one click.
Frequently Asked Questions
Are mortgage brokers subject to FINTRAC compliance requirements?
Yes. Brokers and agents are covered under the PCMLTFA and must implement AML programs, including client identification and suspicious transaction reporting.
What’s required to verify a mortgage client?
At a minimum, valid government-issued ID and proof of address. For high-risk clients, additional verification may be needed.
How do I report suspicious mortgage activity?
Our system generates pre-filled STRs based on flagged behavior, ready for submission to FINTRAC.
Do I need to report third-party payments?
Yes. You must determine and document if a third party is involved in a mortgage transaction, including capturing declarations.
How long must I keep AML records?
At least five years from the date of the transaction or client relationship termination.
Getting Started
Simplify AML compliance while keeping your mortgage business moving. Our platform empowers brokers and lenders to meet regulatory obligations with speed and 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 — fast.
Contact Us
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