Real Estate Businesses
Streamline client onboarding, third-party declarations, and transaction reporting—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 real estate brokers and developers in Canada.
Avoid fines, protect your reputation, and stay audit-ready with real estate-specific compliance tools that work at the speed of your business.
Who Is It For?
This solution is for regulated real estate business entities in Canada that are obligated to comply with FINTRAC’s anti-money laundering (AML) rules, especially around client identification, large cash transactions, and third-party involvement.
Industry Overview
The Canadian real estate sector is under intense scrutiny due to its vulnerability to money laundering. FINTRAC mandates strict compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), which includes verifying the identity of clients, tracking large cash payments, and documenting beneficial ownership.
As housing markets boom and global investment increases, real estate professionals face growing risks and responsibilities in combating illicit transactions while keeping business friction low.
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 brokerages or developers 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 real estate 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 helps real estate businesses stay aligned with both current and upcoming regulations—without slowing down closings.
Common Challenges
Our Solutions
Fast & Compliant Client Onboarding
Capture and validate government-issued IDs from clients securely.
Automatically detect and prompt for required third-party disclosures.
Automated Transaction Monitoring & Reporting
Trigger alerts and pre-fill FINTRAC-compliant LCTRs when cash thresholds are crossed.
Spot transactions involving high-risk parties or unusual activity patterns.
Audit-Ready Recordkeeping
Store declarations, LCTRs, and ID documents securely for five years.
Provide proof of diligence instantly during FINTRAC inspections.
Brokerage-Level Oversight
Ensure agents, brokers, and compliance officers collaborate securely.
Track compliance activity across offices or franchises.
Services Relevant to This Industry
Client ID Verification
Collect and validate ID documents digitally, reducing paperwork and in-person meetings.
Third-Party Determination & Disclosure Forms
Automatically flag potential third-party involvement and gather signed declarations.
Large Cash Transaction Reporting (LCTR)
Detect, record, and report large cash payments that exceed regulatory thresholds.
Compliance Archive & Document Retention
Maintain all FINTRAC-mandated records securely for 5+ years, ready for inspection.
Audit Dashboard & Real-Time Alerts
Ensure that brokers and agents are alerted of missing documentation or incomplete files.
Real-World Use Cases
Use Case 1: Agent closing a deal with a corporate buyer
The system prompts for beneficial ownership details and third-party declaration, ensuring FINTRAC compliance.
Use Case 2: High-value residential property purchase in cash
Automatically triggers an LCTR with pre-filled client and transaction details, saving hours of manual work.
Use Case 3: Brokerage audit request from FINTRAC
Compliance officer exports full client files including IDs, risk notes, and transaction reports in minutes.
Frequently Asked Questions
Are real estate brokers subject to FINTRAC regulations?
Yes. Real estate brokers and sales representatives must comply with the PCMLTFA, which includes client ID, third-party, and large cash transaction reporting.
What is the threshold for a Large Cash Transaction Report (LCTR)?
Any cash transaction of CAD 10,000 or more must be reported using an LCTR within the prescribed timeframe.
How do I verify a client's identity under FINTRAC rules?
Use government-issued photo ID, credit file verification, or dual process methods. Our platform supports digital collection and validation.
What if a client is acting on behalf of someone else?
You must collect a third-party declaration form. Our workflow guides you to identify and document these relationships correctly.
How long do I need to keep records?
At least five years after the last business transaction with the client.
Getting Started
Make real estate compliance frictionless and reliable. Our solutions help you stay ahead of regulations so you can focus on closing more deals.
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Our team is here to listen, answer your questions, and help you get compliant — fast.
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