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FINTRAC is known as “Canada’s financial intelligence unit and anti-money laundering and anti-terrorist financing supervisor.” It generates intelligence for Canada’s law enforcement and national security
agencies.

As reporting entities to FINTRAC, Notaries must report certain transactions, including suspicious transactions. other reporting entities include accountants and accounting firms, cheque cashers, financing or leasing entities, financial entities, life insurance, money services businesses, mortgage, real estate and securities dealers, mortgage brokers and Title Insurance companies. Find out more about who must report to FINTRAC. 

Lawyers and law firms do not report to FINTRAC however a lawyer must not act for a client that the lawyer knows, or ought to know, on an objective basis, assists in or encourages any dishonesty, crime or fraud. BC lawyers are subject to the anti-money laundering and counter-terrorist financing requirements the Law Society imposes and must meet their obligations and comply with the law.

FINTRAC provides publications that are useful for Notaries when considering and managing risks:

  • FINTRAC guidance related to a Ministerial Directive on Financial Transactions Associated with the Islamic Republic of Iran (July 2025). This guidance is applicable to specific persons and entitles listed under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Notaries must treat transactions originating from or bound for Iran as high risk.
  • FINTRAC’s guidance includes detailed examples of ways in which a transaction could be originating from or bound for Iran, including transactions flowing through intermediary jurisdictions.
  • Special Bulletin on financial activity associated with evasion of counter proliferation sanctions
    (July 2025)
    • Special Bulletin on financial activity associated with suspected sanctions evasion (June 2024).

Establishing proactive measures is especially important when providing legal services to high-risk clients and in high-
risk sectors including real estate, private lending, trusts and complex ownership structures. High-risk clients include politically exposed persons, non-residents, clients with a criminal history and clients in high-risk occupations or from jurisdictions subject to increased monitoring and high-risk jurisdictions.

The Rules prohibit Notaries from receiving cryptocurrency assets. 

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