EXPLORE PROGRAMS
Factoring companies — those that purchase accounts receivable at a discount — are now reporting entities under the PCMLTFA. The expansion of FINTRAC supervision to factoring reflects the sector's exposure to trade-based money laundering, fictitious-invoice schemes, and third-party-payment risk. This annual training brings factoring compliance officers, underwriters, and operations staff up to speed on the new PCMLTFA obligations: client and counterparty identification, beneficial ownership, ongoing monitoring, and the suspicious transaction, large cash, and EFT reports that may apply. The course incorporates trade-based ML typologies adapted to factoring.

You will learn how PCMLTFA obligations apply to a factoring business, how to identify and verify both the assignor and the underlying account debtor where required, how to apply beneficial ownership and PEP rules, how to recognize trade-based ML and fictitious-invoice schemes, and how to file STRs and any applicable LCTR/EFTR reports.
Course Cost :
$100.00