Compliance

Large Cash Transaction Report (LCTR)

Mandatory FINTRAC report for cash transactions of $10,000 CAD or more.

Definition

Under PCMLTFA, reporting entities must file an LCTR within 15 days of receiving cash of $10,000 or more in a single transaction, or two or more cash transactions totalling $10,000 within 24 hours from the same client (the 24-hour rule). Investment dealers rarely receive cash directly, but the obligation applies if they do.

Source

PCMLTFA Regulations s.12; FINTRAC Guideline 7

Where this shows up on the CIRE

Outcome 6.1

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