Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA)

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) was created as part of a Canadian Government initiative to fight money laundering and terrorist financing. Companies who must report to FINTRAC are required to “know their clients”, therefore Mortgage Funding as a deposit broker must collect more information from our clients in order to purchase investments with the banks and trust companies that we deal with.

Mortgage Funding is a deposit broker for many Banks and Trust companies and it is up to us to collect the following information from all registered GIC/RRSP/RRIF clients so that we are all complying with the FINTRAC rules:

- Two pieces of valid ID (such as Driver’s Licence, Passport, Birth Certificate, Canadian Citizenship Card, Government Senior Citizens Card).

- Address

- Date of Birth

- Social Insurance Number

- Occupation

For more information about the Proceeds of Crime (Money Laundering) and Terrorist Financing Act or FINTRAC please see their website at http://www.fintrac.gc.ca