Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)
Identification Requirements: What You Need to Know
Why We Ask for Your Identification
As part of Canada’s federal regulations, all Realtors are required by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) to verify the identity of their clients. This helps prevent fraud, money laundering, and other financial crimes. Providing your ID is a standard procedure and is required by law.
Who Needs to Provide Their Identification?
All clients involved in a real estate transaction, including buyers, sellers, tenants, and landlords, must provide their identification. This requirement applies to both individuals and those representing a business.
How You Can Provide Your Identification
In-Person: Show your original government-issued photo ID, such as a driver’s license, passport, or PR card, when we meet.
Not In-Person: If we don’t meet face-to-face, we can verify your ID through video conference, secure third-party verification, or the dual process method using reliable documents like utility bills or financial statements.
Why Your Previous Realtor May Not Have Asked for Your ID
If a previous Realtor didn’t request your ID, they may not have fully followed FINTRAC’s requirements. However, compliance is mandatory, and we are committed to ensuring all legal guidelines are met to protect all parties involved.
What Happens If You Refuse to Provide Your ID?
Refusing to provide identification will flag you as a suspicious person, and we cannot legally proceed with your real estate transaction. We must meet these requirements to continue our professional relationship.
Learn More About FINTRAC
For more information, you can visit the FINTRAC website or call their customer service line.
Questions or Concerns?
If you have any questions or concerns about your privacy or identification process, please call our office and ask for our FINTRAC and Privacy Officer, who will be happy to assist you.
