We are excited to announce FINTRAC / PCMLTFA compliance within the mortgage application process. The form captures critical risk assessment details for each property and borrower, aiding compliance with anti-money laundering (AML) regulations.

• High-Risk Transaction Types & Risk Assessment: We have added new fields that let you easily mark high-risk transactions like suspicious activities, terrorist properties, large cash transactions. You can assess the overall risk level as low, medium, or high.
• Transaction Delivery Channels & Source of Funds: we have expanded options that allow you to track how transactions were done (face-to-face, internet, phone) and specify if the source of funds is known. You can also choose from payment methods like EFT, bank draft, or wallets.
• New FINTRAC / PCMLTFA Reporting Status: This section helps you track whether a transaction is flagged, reported, or under monitoring. You can also add notes to manage high-risk transactions more efficiently.
• Borrower Identification:
  • Borrower Type: Easily select whether the borrower is a person or a corporation.
  • PEP Status: Indicate if the applicant is a politically exposed person with a new dropdown option.
  • Verification Methods: Choose from various identity verification methods, including: Government Issued Photo ID (In Person, Live Video)
  • Credit File Method (3+ years of history)

When users click Upload Supporting Documents, they can add relevant documents for reference. Once uploaded, these documents are available under the Supporting Documents tab and are also saved in the FINTRAC / PCMLTFA folder within the Documents & Forms section.

The FINTRAC dashboard provides an overview of all deals with completed FINTRAC forms, displayed through clear pie charts for borrower risk, ID verification, PEP status, and more. Users can easily export the data by clicking the “Export” button, generating a report in Excel format.

The “Referral Source” in the Mortgage Module Settings page has been renamed to “Co-Branding” for better clarity.