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Why are Mortgage Brokerages not required to report mortgages in FINTRAC?

April 26, 2017brokerages fintrac mortgage mortgages report

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Why are Mortgage Brokerages not required to report mortgages in FINTRAC?

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Mortgage Brokerages are not on the list of businesses that must report suspicious transactions and other specific types of transactions to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). However, Real Estate Brokers, Real Estate Sales Representatives, and certain Real Estate Developers are required to report transactions in FINTRAC. For more information, visit FINTRAC’s website.