Compliance guidance · Resource briefing
Reporting suspicious transactions
Understand the suspicion threshold, attempted transactions and the evidence needed for a useful FINTRAC report.
Independent editorial summary of FINTRAC material. Not legal advice or a statement from the authority.
Suspicion is not a transaction-size test
A suspicious transaction report is based on reasonable grounds to suspect that a completed or attempted transaction is related to money laundering or terrorist activity financing. It is not triggered by a universal dollar threshold. A small transaction can still require scrutiny when the facts and context support suspicion.
Evaluate indicators in context
A single unusual feature does not automatically establish the reporting threshold. Combine the facts, relevant indicators and context, and explain the reasoning that connects them. Preserve what staff observed, the customer information available and the sequence of transactions or attempted activity.
An internal alert and a FINTRAC report are not the same thing. Your escalation procedure should make clear who investigates an alert, who assesses the threshold and who prepares and submits the report.
Use the official reporting instructions
FINTRAC’s guidance explains the threshold, required report information and submission timing. The requirement to report as soon as practicable is not an invitation to delay for a fixed internal deadline. Consult the current instructions for the assessment steps and take care with confidentiality and handling customer communications.
Operational checklist
- Capture the facts and context behind the alert.
- Assess completed and attempted transactions.
- Document the reasoning for the reporting decision.
- Use current FINTRAC instructions for report fields and timely submission.
Source & current guidance
Confirm the requirements for your activities in the original material. Official guidance and participation terms can change.
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