STR Training for Canada
10 Modules
The training consists of 10 modules, including videos, reading materials and tests.
2 Hours 19 Minutes
The training is 2 Hours 19 Minutes in total. You can learn at your own pace
Certificate
Complete the training successfully to get a certificate
$49.99
Who this training is for
Who it’s for
AML/AFT analysts, transaction monitoring teams, compliance officers, MSB and VASP staff, onboarding teams, enhanced due diligence (EDD) teams, and professionals responsible for FINTRAC reporting and AML compliance in Canada.
Requirements
A basic understanding of AML/AFT concepts, transaction monitoring, customer due diligence (CDD/KYC), and regulatory compliance is recommended but not required. This training is suitable for both new and experienced compliance professionals.
What you’ll learn
Understand when a Suspicious Transaction Report (STR) must be submitted to FINTRAC
Apply the Canadian reasonable grounds to suspect threshold
Identify suspicious activity using ML/TF indicators relevant to AML/AFT compliance
Build a case using facts, context, indicators, and the client explanation
Draft a clear STR narrative suitable for FINTRAC reporting
Understand filing timelines, confidentiality, recordkeeping, and post-filing obligations
Syllabus
This training provides a comprehensive overview of Suspicious Transaction Reporting (STR) requirements in Canada and the obligations established under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). Learners will gain a clear understanding of when an STR must be submitted to FINTRAC, how to apply the reasonable grounds to suspect threshold, and how to identify potential money laundering and terrorist financing activity.
Participants will learn how to assess suspicious transactions using customer profile information, transaction behaviour, risk indicators, supporting documentation, and investigative findings. The training also covers internal investigations, evidence gathering, source of funds and source of wealth assessments, STR narrative writing, FINTRAC filing requirements, reporting timelines, confidentiality obligations, recordkeeping requirements, and post-filing responsibilities. By the end of the course, learners will be equipped to make informed reporting decisions and support effective AML/AFT compliance within their organization.
Canadian STR Legal Framework
Module 1 16 minutes to complete
Understand the STR obligation under Canadian law
Watching 3 mins,Reading 5 mins
Know what can be reported: completed and attempted transactions
Reading 4 mins
Recognizing Suspicious Activity
Module 2 14 minutes to complete
Compare the transaction to the client profile
Reading 4 mins
Identify unusual transaction patterns
Reading 3 mins
Assess whether there is a reasonable explanation
Reading 3 mins
Building Suspicion Using Facts, Context, and Indicators
Module 3 11 minutes to complete
Separate facts from assumptions and add context
Reading 4 mins
Link indicators to the suspicion decision
Reading 3 mins
Internal Investigation Before STR Filing
Module 4 14 minutes to complete
Review internal records
Reading 3 mins
Review reliable external information where appropriate
Reading 4 mins
Decide whether additional client information is appropriate
Reading 3 mins
Applying the Reasonable Grounds to Suspect Test
Module 5 12 minutes to complete
Apply the reasonable grounds to suspect test to the full case
Watching 4 mins,Reading 2 mins
Document the filing or non-filing rationale
Reading 2 mins
Writing the STR Narrative
Module 6 11 minutes to complete
Explain who is involved
Reading 3 mins
Describe activity in a logical sequence
Reading 3 mins
Use clear, factual, non-accusatory language
Reading 1 mins
FINTRAC Filing Requirements
Module 7 10 minutes to complete
Complete structured fields accurately
Reading 2 mins
Complete the details of suspicion
Reading 2 mins
Describe action taken
Reading 2 mins
Filing Timeline - As Soon as Practicable
Module 8 9 minutes to complete
Identify when the STR filing clock starts
Reading 2 mins
Prioritize filing and document any delay
Reading 3 mins
Confidentiality, Tipping Off, and Recordkeeping
Module 9 9 minutes to complete
Protect STR confidentiality and avoid tipping off
Watching 2 mins,Reading 1 mins
Maintain STR records and retain the report for five years
Reading 2 mins
Post-Filing Actions
Module 10 8 minutes to complete
Reassess the relationship using a risk-based approach
Reading 2 mins
File additional STRs if suspicious activity continues
Reading 2 mins
