905-896-3333 * 905-827-6999 * 416-762-4200

FINTRAC Resource Materials to Help Simplify Compliance. Once completed you must scroll all the way down and verify you have taken this course!
 
 
April 7, 2014 -- The Canadian Real Estate Association (CREA) has new resource materials to help Members more easily comply with FINTRAC obligations, and specifically the new regulatory requirements that took effect on February 1, 2014.
 
The new regulations mean that Brokerages are required to:
  1. Keep client information up to date and keep a record of the purpose and intended nature of the Brokerage’s business relationships with clients.
  2. Keep correspondence with clients of the measures taken by the Brokerage to monitor business relationship with clients.
  3. Reassess a client's risk of money laundering or terrorist financing for clients who are in a business relationship with the Brokerage.

 

CREA’s resource materials include the new comprehensive Proceeds of Crime (Money Laundering) and Terrorist Financing Act and Regulations 2014 Compliance Regime manual that explains obligations–both existing and new–in a user-friendly, fill-in-the-blank format. More specifically, section 3.1.2.11 of the manual specifically pertains to the new regulations.
 
Of note, the new manual can be tailored to the Brokerage’s business and used to satisfy FINTRAC’s requirement for documentation of a Brokerage’s policies and procedures. Revised CREA forms, which incorporate the new requirements, are available for download on REALTOR Link® and will be available shortly on WEBForms®. CREA’s FINTRAC FAQ has also been updated with instructions on how Brokers may wish to implement the new forms into their Brokerage.
These new materials complement the over two years of lobbying, which resulted in ten changes and clarifications that significantly and substantively reduce the administrative burden of the new regulations.
 
 
Click here to access the new FINTRAC resource material on REALTOR Link®.  Please note that Members must log in using their REALTOR Link® username and password. For login assistance, please contact the TREB’s Help Desk at (416) 443-8111.

Money Laundering 101 - MUST Download and Review


These modules have been provided by the Money Laundering Compliance Centre of the Canadian Real Estate Association. This Centre has been designed to provide information generic to the Real Estate Industry that will assist agents and sales representatives meet their Compliance Regime requirements as set down under the Regulations to Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).The Anti-Money Laundering & Terrorist Financing Training Course has been designed to provide the reader with background information and a solid foundation for understanding the money laundering process.

It is mandatory to review this course. 

Money Laundering - An Introduction

Module One - About Money Laundering and Terrorist Financing

Module Two - The Players

Module Three - Reporting Requirements

Module Four - Record Keeping and Client ID

Module Five - Suspicious Transaction Indicators

Fact Sheet - AML CTF Regulation Charges February 2014
Real Estate Brokers, Sales Representative, Developer
First Name: 
Last Name: 
Email: 
Phone: 
Comments: 
 
* * Maximum of 2000 characters


Mandatory Confirmation of Completion


Once you have completed this course, kindly fill out the entire form below. This is mandatory, it is the law to keep up to date in our fight against terrorism and money laundering. 

Fintrac will receive a list of all agents that have taken and NOT TAKEN the course. 

To:  Sutton Office
Subject: 

First Name: 
Last Name: 
Email: 
Phone: 
Comments: