What 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
Course 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.
Course curriculum
Module 1: Money laundering and real estate
- How real estate is misused
- The PCMLTFA and FINTRAC
- Who is a reporting entity
Module 2: Your compliance program
- Compliance officer
- Policies, procedures and risk assessment
- Training program and two-year review
Module 3: Know your client
- Verifying identity
- Beneficial ownership
- PEPs, HIOs and third parties
Module 4: Records and reports
- Record keeping
- Suspicious transaction reports
- Large cash and large virtual currency reports
Module 5: Examinations and good practice
- Red flags in real estate
- Preparing for a FINTRAC examination
- Final assessment
Who is this course for?
- Real estate brokers and brokerage compliance officers
- Real estate agents and sales representatives
- Real estate developers
- Administrative staff who handle client files
Prerequisites
No prior experience required. Lessons start from the basics and build towards practical application.
Assessment
Short quizzes throughout the course. Pass mark: 70%, with up to 3 attempts.
A Certificate of Completion from Charter Compliance Academy
Complete all lessons and score 70% or more in the final assessment, and your Certificate of Completion is issued instantly in your account. Issued by Charter Compliance Academy, 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. Use it for your learning records and HR files, or share it with your employer or on LinkedIn. It records that you completed this on-demand online course; it is not a professional licence, designation or accreditation.
All course content is written and owned by Charter Compliance Academy, an independent provider of on-demand online courses. We are not affiliated with or endorsed by FINTRAC, the Office of the Privacy Commissioner of Canada, any provincial ministry of labour, the WSIB, CCOHS or any other government body or standards organisation.
- 1Complete the lessons
- 2Pass the final (70%+)
- 3Get your Certificate of Completion
Frequently 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.
Enrolling a team?
We offer company pricing with progress tracking for your staff and a Certificate of Completion for every learner.
