EXPLORE PROGRAMS
Financing and leasing companies — including those originating commercial equipment leases, vehicle financing, and other asset-backed lending — are reporting entities under the PCMLTFA. The extension of FINTRAC supervision to this sector reflects ML/TF risks in asset-based finance, including over-valuation, straw borrowers, and use of finance products as money-movement vehicles. This annual training equips compliance officers, underwriters, and operations staff with the FINTRAC obligations specific to financing and leasing: client and beneficial ownership identification, ongoing monitoring, source-of-funds inquiries on prepayments and balloon payments, and the relevant reports. Case studies cover both consumer and commercial leasing scenarios.
You will learn how PCMLTFA obligations apply to a financing or leasing business, how to identify and verify clients (including corporate borrowers and lessees), how to determine beneficial ownership, how to recognize red flags such as early payouts, third-party prepayments, and inflated asset valuations, and how to file STRs and applicable cash and EFT reports.
Course Cost :
$100.00
