About this courseCourse overview
Real estate brokers, sales representatives and developers are reporting entities under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. FINTRAC expects every brokerage to have a written, ongoing compliance training program for its agents and staff, and reviews it during examinations.
This online course gives your team that foundation. It covers the five pillars of a compliance program, how to verify client identity and confirm beneficial ownership, how to spot politically exposed persons and heads of international organizations, and which records to keep for each transaction.
Practical lessons show red flags in real estate deals, how to submit suspicious transaction reports and large cash transaction reports, and what to expect during a FINTRAC examination.
Use it as part of your brokerage's training plan and add your own policies and procedures.
OutcomesWhat you'll learn
- Describe the five elements of a FINTRAC compliance program
- Verify client identity using the methods FINTRAC accepts
- Confirm beneficial ownership and identify politically exposed persons
- Keep the records FINTRAC expects for each transaction
- Recognise suspicious transactions and know when to report
- Prepare for a FINTRAC examination
Regulatory alignmentLaws and regulations covered
General education based on the current official texts and guidance. It is not legal advice.
AudienceWho this course is for
- Real estate brokers and brokerage compliance officers
- Real estate agents and sales representatives
- Real estate developers
- Administrative staff who handle client files
CurriculumWhat's inside the course
1Money laundering and real estate3 lessons
- How real estate is misused
- The PCMLTFA and FINTRAC
- Who is a reporting entity
- Module quiz
2Your compliance program3 lessons
- Compliance officer
- Policies, procedures and risk assessment
- Training program and two-year review
- Module quiz
3Know your client3 lessons
- Verifying identity
- Beneficial ownership
- PEPs, HIOs and third parties
- Module quiz
4Records and reports3 lessons
- Record keeping
- Suspicious transaction reports
- Large cash and large virtual currency reports
- Module quiz
5Examinations and good practice3 lessons
- Red flags in real estate
- Preparing for a FINTRAC examination
- Final assessment
- Module quiz
Before you startRequirements and assessment
Requirements
No prior experience required. Lessons start from the basics and build towards practical application at work.
Assessment
A short quiz after each module and a final assessment. Pass mark: 70%, with up to 3 attempts.
IncludedCertificate of Completion
Complete all lessons and score 70% or more in the final assessment, and your Certificate of Completion is issued instantly in your account. It shows your name, the course title, the issue date and a unique certificate ID, as an A4 page you can print or save as PDF for your training records.
- 1Complete the lessons
- 2Pass the final (70%+)
- 3Download your certificate
It records completion of an on demand online course. It is not a professional licence, designation or accreditation, and Charter Compliance Academy is not affiliated with any government body or regulator.
FAQFrequently asked questions
Does FINTRAC approve or accredit courses?
No. FINTRAC does not approve specific courses. It expects each reporting entity to have a written, ongoing training program and a documented plan. This course can be part of that program.
Who in a brokerage should take it?
Brokers, agents, sales representatives and any staff who deal with clients or transactions.
Is it suitable for annual refreshers?
Yes. With lifetime access you can repeat it each year and document the refresher in your training records.
Can a brokerage enrol all its agents?
Yes. Request a team quotation for brokerage-wide pricing and completion reports.
Training a team?
Group enrolment, progress reports and invoices in Canadian dollars.
