Compliance

Suspicious Transaction Report (STR)

Mandatory FINTRAC report when there are reasonable grounds to suspect money laundering or terrorist financing.

Definition

Filed without a dollar threshold whenever a registrant has reasonable grounds to suspect a transaction or attempted transaction is related to money laundering or terrorist financing. Must be filed within 3 business days of forming the suspicion. Tipping off the client about an STR is a criminal offence.

Source

PCMLTFA s.7; FINTRAC Guideline 2

Where this shows up on the CIRE

Outcome 6.1

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