Quote:
The Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations require financial institutions and intermediaries, including legal counsel, to report to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) certain financial transactions, such as large cash transactions and international EFTs of $10,000 or more. They also require reporting entities to ascertain the identity of their clients whether they are individuals, corporations or other entities, keep certain records and implement an internal compliance program.
Seems that it's actually international transactions of $10,000 or more that are monitored here, and "large cash transactions", which are defined as
Quote:
Large cash transactions
Large cash transactions involving amounts of $10,000 or more received in cash, must be reported.