6 Analyzing a Report
To declare any report to be suspicious and report it to the FINTRAC, you must view and assess the selected report and its details. There can be one or more transactions associated with a report.
You must also know the types of transactions, entities, or individuals associated with it. You must study details of suspicion, documents, and audit history associated with the report before you take any type of action on the selected report.
When you identify a suspicious transaction is associated with the selected report and it is not reported through the OFS ECM application, but you want to report it to the FINTRAC, then you can manually add a new transaction to the report.
Use the Report Details page to view, analyze, and update the report information. You can add, delete, and modify the reports based on the status of the report and your user privileges.
- Accessing Report Details: Use this section to access the specific Report Details. Click the required Report Number on the Regulatory Reports List page to open the Report Details page.
- General Information: Use this section to view and update reporting entity, types of reporting entities, and Whom can FINTRAC contact about the selected Report, Ministerial directives, and Reporting entity report reference number.
- Transaction Information: This section allows you to update the date and time of the transaction, method of transaction, a location where the transaction was conducted, the purpose of the transaction, Whether the transaction is below or above $10,000 CAD, and reporting entity transaction reference number. Use this section to add a new transaction to the selected report and update or remove existing transactions.
- Starting Action: This section allows you to update the amount and currency of cash received, information about the source of cash, conductor (person or entity that conducted the transaction and their associated information), and third party (person or entity on whose behalf the transaction is conducted and their associated information). Within each starting action, you must include multiple conductors, account holders, sources of funds or virtual currency, and third parties. If the conductor or third party is an entity, you must include information about the entity's director(s) as applicable.
- Completing Action: Use this section to provide information about how the transaction was completed. Such as Details of disposition, Amount and currency or virtual currency type, Virtual currency address, reference and/or account information, Any other person or entity involved in the completing action and their associated information, and Beneficiary (any person or entity that was the beneficiary of the transaction and their associated information).
- Details of Suspicion: This section is the narrative that explains your grounds for suspicion that led to your decision to submit a Suspicious Transaction Report to FINTRAC. You must describe in a clear, simple, and concise language your grounds for suspicion of a money laundering or terrorist financing offence – including the facts, context, and indicators that allowed you to reach reasonable grounds for suspicion.
- Documents: Use this section to add related documents to the selected report.
- Audit: Use this section to view the audit history of a report. It provides complete details of the actions performed on the report and comments provided by the users in the various statuses.