FINTRAC Mortgage Sector Compliance Checklists
FINTRAC’s mortgage sector guidance makes clear that anti-money laundering and anti-terrorist financing compliance obligations are tied to the specific role an entity plays in a mortgage transaction. Where a mortgage broker, lender, and mortgage administrator are each involved in the same file, each may have separate and independent obligations under the Proceeds of Crime (Money […]
CAPL Highlights the Need for Stronger Mortgage Oversight in B.C
The Canadian Association of Private Lenders (CAPL) is contributing an important industry perspective to the discussion around British Columbia’s upcoming Mortgage Services Act, underscoring the need for a mortgage regulatory framework that is both effective and responsive to evolving fraud risks. In a recent Business in Vancouver article examining B.C.’s mortgage industry overhaul, CAPL was […]