FINTRAC releases a mortgage-sector training video using practical scenarios to help firms identify and report ML and mortgage fraud risks, while meeting AML compliance requirements

The video was published to help mortgage brokers, lenders, and administrators understand their obligations to identify and report suspicious transactions linked to money laundering, terrorist financing, sanctions evasion, and mortgage fraud. Red flags include unexplained sources of funds, nominee or third-party involvement, falsified income information, and unusual repayment patterns…