MONEY LAUNDERING AND TERRORIST FINANCING LEGISLATION / FINTRAC COMPLIANCE

Our firm supports reporting entities subject to the FINTRAC compliance regime — including many real estate agencies — with any matter relating to their compliance obligations.

Meeting the obligations set out in the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Money Laundering Act) and its regulations is often a constant source of concern for most of the businesses subject to it. In the event of a breach, they expose themselves in particular to the administrative and criminal penalties that may be imposed by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), the regulatory authority in this area.

DUBÉ LATREILLE can make this task easier with a range of services designed to help you achieve and maintain the compliance objectives set out in the legislation.

Our services include implementing continually updated FINTRAC compliance programs, their biennial review, OACIQ-accredited training eligible for CEUs, and a specialized legal newsletter published each quarter. Depending on your needs, we also support compliance officers and organizations with their self-assessments, their preparation for an audit, and the strengthening of their internal practices.

When your organization is the subject of an unfavourable decision from FINTRAC, we can step in to try to mitigate its consequences — notably by negotiating the amount of a penalty, the payment terms, or, when the situation requires, by challenging the legality of the decision before the Federal Court.

The compliance services we offer are as follows:

1) Development of a FINTRAC compliance program:

After identifying the main characteristics of your organization, we prepare a compliance program comprising an internal framework, tools, and reference documents intended for your compliance officer, your management, and, where applicable, your operational teams. During this process, we meet with the responsible individuals to review the ML/TF mechanisms already in place and to carry out an overall risk assessment. Once these steps are completed, we are able to propose a complete, compliant program tailored to the reality of your activities.

2) Review of the FINTRAC compliance program:

Every two years, your organization must review its compliance program to ensure it reflects the evolution of its activities, legislative and regulatory changes, new ministerial directives, and FINTRAC's expectations. We carry out this biennial review in a structured way in order to update your documentation, correct any gaps identified, and better prepare you for a possible audit or inspection.

3) FINTRAC Training: Building a Lasting Culture of Compliance

A strong culture of compliance depends on more than policies and procedures: executives, managers, team members and compliance officers must clearly understand their obligations and remain vigilant in their daily activities. For any organization subject to anti-money laundering and anti-terrorist financing (AML/ATF) legislation, tailored annual training is strongly recommended to prevent deficiencies, reduce risk and support an effective compliance program.

DUBÉ LATREILLE offers practical in-person, virtual or hybrid training designed to turn regulatory requirements into clear, actionable practices. Some courses are accredited by the OACIQ and qualify for continuing education units (CEUs). Content can also be tailored to your industry, compliance maturity and organization’s specific needs.

We currently offer four FINTRAC training courses:

1. FINTRAC 101 — Review of Brokers’ Obligations: approximately 75 minutes on essential obligations and best practices.
2. FINTRAC 201 — Common Deficiencies Identified by FINTRAC: approximately 75 minutes on common deficiencies and how to prevent them.
3. FINTRAC 301 — Basic Training for Compliance Officers: approximately 120 minutes on the knowledge essential to this role.
4. FINTRAC 401 — “Dirty Money Is Looking for a Home”: approximately 75 minutes on AML/ATF schemes in real estate and the warning signs to recognize.

Whether your goal is to meet training obligations, update your team’s knowledge or address specific vulnerabilities, we can offer a practical, tailored approach. Contact DUBÉ LATREILLE to discuss your needs and implement training that will strengthen your organization’s compliance and vigilance over the long term.

4) FINTRAC newsletter:

Four times a year, DUBÉ LATREILLE publishes a specialized newsletter ("Altimax") to recall best practices, cover relevant news, present new ministerial orientations or directives, track FINTRAC trends, and revisit the various obligations that make up an effective compliance program. This publication concretely supports the work of compliance officers and helps maintain a high level of vigilance within the organization.

5) Other legal services:

We also assist compliance officers and organizations in connection with self-assessments, internal reviews, and audits conducted by FINTRAC. In the event of an unfavourable decision, we can step in to negotiate certain aspects of the penalty, request its review or, depending on the context, challenge its legality before the Federal Court.

DUBÉ LATREILLE supports many real estate agencies, as well as other reporting entities subject to the legislation, in order to ease their compliance burden and help them meet FINTRAC's requirements with rigour, efficiency, and confidence.