As a real estate professional in BC, you are on the front lines of detecting and helping to prevent financial crime. Real estate is a known vehicle for money laundering, terrorist financing, and sanctions evasion, which is why agents are legally obligated to report suspicious activity to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
One of the most important tools available is the Suspicious Transaction Report (STR). Understanding when and how to use an STR not only fulfills your compliance obligations under Canadian law, but also plays a vital role in protecting the integrity of our real estate market and broader financial system.
This video offers an important overview of how STRs work and why your role in reporting matters. It’s a helpful resource you can return to as a reference, and a great tool to share with colleagues or team members who may benefit from a clear, practical explanation of STRs.