Reporting
Real estate brokers, real estate sales representatives and real estate developers, and their employees, must file the following reports with FINTRAC:
- Suspicious transaction reports if there are reasonable grounds to suspect that a transaction or an attempted transaction involving real estate is related to the commission or attempted commission of a money laundering offence or a terrorist activity financing offence.
- Terrorist property reports if the real estate broker, real estate sales representative or real estate developer has property in his, her or its possession or control that it knows is owned or controlled by or on behalf of a terrorist or a terrorist group, as well as any information they have about a transaction or proposed transaction in respect of such property.
Real estate brokers, real estate sales representatives and real estate developers must also file large cash transaction reports with FINTRAC for cash transactions of $10,000 or more received in connection with a real estate transaction.