Who Must Report

Reporting entities must report suspicious and certain other transactions to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). This includes the following:

• financial entities (such as banks, credit unions, caisses populaires, trust and loan companies, and agents of the Crown that accept deposit liabilities);
• life insurance companies, brokers, and agents;
• securities dealers, including portfolio managers and investment advisers;
• money services businesses;
• agents of the Crown that sell or redeem money orders;
• accountants and accounting firms (when carrying out certain activities on behalf of their clients);
• real estate brokers or sales representatives (when they act as an agent in the purchase or sale of real estate);
• effective February 20, 2009, real estate developers (when they sell a new house, a new condominium unit, a new commercial or industrial building, or a new multi-unit residential building to the public);
• certain casinos;
• effective December 30, 2008, dealers in precious metals and stones (when they engage in the purchase or sale of precious metals, precious stones or jewellery in an amount of $10,000 or more in a single transaction;
• effective December 30, 2008, British Columbia notaries (when carrying out certain activities on behalf of their clients); and
• for the purposes of suspicious transactions, employees of these reporting entities.

For more information about who is considered a reporting entity, consult the series of guidelines prepared by FINTRAC about reporting obligations.