Feature Sheet

Regulatory Reporting

FINTRAC Reporting for Canadian Financial Institutions

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Federal law requires Canadian financial institutions to report suspicious transactions, and certain electronic funds transfers and large cash transactions to FINTRAC. Investigating, compiling and submitting these transactions is a time-consuming requirement fraught with potential error.

Verafin brings increased efficiency and confidence to the regulatory reporting process from automated report generation and pre-populated fields to electronic filing directly with FINTRAC and examiner-friendly audit trails.

Features of Verafin’s regulatory reporting solution for Suspicious Transaction Reports (STRs), Electronic Funds Reports (EFTRs), and Large Cash Transaction Reports (LCTRs), include:

  • Pre-populated report fields
  • One-click electronic filing
  • Workflow dashboards
  • Auto-submit complete reports

Tagged as...

  •   BSA/AML Compliance
  •   CTRs
  •   SARs