FINTRAC compliance
Since October 2024, you are a reporting entity.
Mortgage brokers are subject to FINTRAC. Not one day, not on exceptional deals: from the very first file.
And since March 26, 2026, the maximum penalties have been multiplied by 40. Compliance is no longer a formality. It is evidence to maintain, file by file.
You remain the reporting entity and the sole responsible party under PCMLTFA s. 9.6. Hypora does not make you compliant: Hypora documents, time-stamps and keeps the organized evidence of what you do.
The notice arrives
A FINTRAC notice arrives. You have 30 days.
Thirty days to gather, for each file concerned, the verified ID, the records, the reports, the trace of your decisions. If your evidence is scattered across emails, binders and a hard drive, you start digging, not knowing if everything is still there. Three situations keep coming back, always the same.
The 2023 file, nowhere to be found
You are asked for a file from two years ago. The client changed email, the document was in a buried thread. You search on a Friday night, unsure it still exists.
The missing piece you never noticed
You believe the file is complete. At the examination, the identity verification method is missing, or the date. An empty field cannot be filled in after the fact: the evidence had to be kept the moment you did the work.
The document from a client long gone
The file in question funded two years ago. The client no longer replies, the co-borrower is unreachable. The document that is missing, you can no longer go and get. It had to be kept already.
What does not hold
The spreadsheet, the binder, your memory. None of them passes the examination.
You likely have a system. A shared spreadsheet, a binder in the office, or simply the memory of having done things right. It holds for daily work. It does not hold up to a FINTRAC notice.
The test is not « can I find my way around ». The test is « can I present, dated, that this verification was done on that day ». A note you can rewrite after the fact proves nothing.
The obligations in plain terms
Five obligations. Not one more, not one less.
The law does not change with your number of files. Here is what it requires, and what Hypora documents and keeps for each one.
What the law requires
What Hypora does
What the law requires
Written compliance program
What Hypora does
Hypora keeps and dates your policies and the record of their effectiveness review (at least every two years).
What the law requires
Documented identity verification
What Hypora does
Hypora files the verified document, the method and the date, and keeps them with the client's file.
What the law requires
Record keeping
What Hypora does
Hypora indexes every document received and keeps it five years, in Canada, ready to present.
What the law requires
Reporting (suspicious transactions, cash of $10,000 or more)
What Hypora does
Hypora keeps the dated record of your reporting decisions. The decision is yours.
Broker's decision. Hypora keeps the record.What the law requires
PEPs, third parties and beneficial owners
What Hypora does
Hypora keeps the record of your analysis. It is a broker's judgment, never automated.
Broker's decision. Hypora keeps the record.The register, for real
This is not a promise. This is the screen.
Here is what your register looks like in Hypora. Every document has its line, its date, its status. Nothing to interpret, nothing to reconstruct on examination day.
No percentage, no « compliant » label. Just the dated record of what you did, kept in Canada.
What Hypora does
The day the notice arrives, the file is already ready.
No rushing, no digging through emails. You open Hypora, you gather the documents already sorted, you download your examination file.
The document, time-stamped on arrival
Every document received is sorted and marked with its arrival date. You know when it came in, without having to note it.
The record, dated at the decision
When you verify an identity or settle a report, Hypora keeps the dated record of your action. The decision stays yours.
The retention, five years in Canada
Everything is kept five years, in Montreal, ready to be gathered into one examination file the day you are asked.
One morning, a FINTRAC envelope
The notice lands. You open Hypora. You export the report.
For most brokers, a review notice means three weekends, neck stiff, turning over filing cabinets for timestamps nobody wrote down. For you: a dated PDF, ready to download, file by file.
FINTRAC
14:17Compliance examination notice
20 files requested. 30 days.
Sophie Tremblay
13:42Documents received
Martin L.
11:15Gagnon file
Group insurance
09:02Renewal
Morning
The email lands. Review notice. 20 files.
Same day
You open Hypora. You tick the 20 files requested. Everything's already there, dated.
Before lunch
The PDF is dated. Every check, timestamped. You get back to your 2:30 PM meeting.
The responsibility
Hypora does not make you compliant.
We will never say it does. Compliance remains your responsibility as an AMF registrant, and yours alone. What Hypora does is more modest, and it is exactly what serves you: keep a dated record you can pull out the day of an audit.
You decide. Hypora documents. The professional judgment stays in your hands, the organized evidence is kept alongside, ready to present. That honesty is what makes the tool credible, not a guarantee no one can deliver.
You remain the reporting entity and the sole party responsible for compliance under PCMLTFA s. 9.6. Hypora is a documentation aid: it structures, time-stamps and keeps the evidence of your work. It gives no regulatory advice and attests to no compliance.
Residency and record
Your documents stay in Canada. And they stay.
Your clients' documents are kept in Montreal, encrypted, for five years, by default. Every action leaves a dated trace. On examination day, you present a file, not a memory.
The Vault
Kept in Canada, dated, ready to present
- Kept in Montreal, in Canada
- Kept five years, by default
- Every action leaves a dated trace
On notice day
The notice arrives, and you breathe.
No race through old emails, no digging through the binder. You open one file, everything is already there, dated, sorted. You download the examination file and you present it. The coffee is still steaming.
Prepare your next examination, not in a panic.
See how Hypora maintains the evidence of your work, file by file, in Canada. A demo, your questions, no commitment.