Course Code: FIN201 | Organization: Binarium Corp | Duration: Approximately 3 Hours | Language: English

Money laundering costs the global economy an estimated $800 billion to $2 trillion USD annually — and the organizations that fail to detect it face devastating regulatory consequences. In Canada, non-compliance with FINTRAC and the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) can result in fines exceeding $500,000 per violation, criminal prosecution of individuals, and permanent reputational harm. This course gives every employee in a regulated organization the knowledge to recognize, respond to, and report suspicious activity — before it becomes your organization's liability.

What You Will Learn

This course is structured across six chapters covering the full AML compliance lifecycle for Canadian regulated entities:

• Chapter 1 — Money Laundering Fundamentals: The definition and global scale of money laundering; the three stages (Placement, Layering, Integration) with real-world examples; why money laundering enables organized crime, terrorism, and corruption; Canada's regulatory landscape including FINTRAC's mandate and the PCMLTFA framework.
• Chapter 2 — Canadian Regulatory Framework: PCMLTFA obligations for Reporting Entities; FINTRAC reporting requirements (STRs, LCTRs, EFTRs, Casino Disbursements); penalties for non-compliance including the 2023–2024 enforcement actions; the role of the Financial Transactions and Reports Analysis Centre of Canada; Canada's relationship with FATF recommendations.
• Chapter 3 — Customer Due Diligence and KYC: The four pillars of a compliant CDD program; Enhanced Due Diligence (EDD) triggers including Politically Exposed Persons (PEPs) and High-Risk Customers; identity verification requirements under PCMLTFA; beneficial ownership determination; ongoing monitoring obligations.
• Chapter 4 — Recognizing Red Flags and Suspicious Activity: The FINTRAC red flag indicators by sector (banking, MSBs, real estate, legal, accounting); transaction red flags vs. behavioral red flags; sector-specific case studies; the "reasonable grounds to suspect" standard and what it means in practice.
• Chapter 5 — Sanctions Screening and Politically Exposed Persons: Canada's autonomous sanctions regime and OSFI's role; OFAC, UNSC, and EU screening obligations for cross-border activities; PEP identification and the enhanced due diligence obligation; screening frequency and technology requirements; the consequences of sanctions violations.
• Chapter 6 — Reporting, Escalation, and the Compliance Program: The five elements of a FINTRAC-compliant AML program; your personal escalation responsibilities as a frontline employee; how to file an internal suspicious activity report; whistleblower protections under PCMLTFA; record-keeping and retention requirements.

Learning Objectives

Upon completing this course, you will be able to:

1. Explain the three stages of money laundering and identify real-world examples of each stage across regulated sectors
2. Describe FINTRAC's mandate, the PCMLTFA's scope, and which organizations are classified as Reporting Entities under Canadian law
3. Identify FINTRAC's mandatory reporting thresholds and deadlines for STRs, LCTRs, and EFTRs
4. Apply Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) procedures, including beneficial ownership determination and PEP identification
5. Recognize transaction and behavioral red flags for money laundering across banking, MSB, real estate, legal, and accounting sectors
6. Explain Canada's autonomous sanctions regime and describe your organization's screening obligations
7. Follow the correct internal escalation procedure when suspicious activity is identified, including how to document and submit an internal SAR
8. Describe the five required elements of a FINTRAC-compliant AML compliance program

Who This Course Is For

This course is designed for compliance and risk professionals, frontline staff, and all personnel at organizations subject to AML obligations under Canadian law. Primary target audiences include:

• Banks, credit unions, and trust companies
• Money Services Businesses (MSBs) and foreign exchange dealers
• Fintech companies and payment service providers
• Insurance companies (life insurance with a savings or investment component)
• Real estate developers, brokers, and agents
• Legal professionals, notaries, and accountants
• Compliance officers, internal auditors, and risk managers

The course references the Canadian (FINTRAC/PCMLTFA) primary framework while noting parallel obligations under US (FinCEN/BSA), UK (FCA/POCA), and EU (AMLD6) regimes for organizations operating across jurisdictions.

Prerequisites

No formal prerequisites. A basic understanding of financial transactions and organizational structure is helpful but not required. The course is designed to be accessible to all employees regardless of technical or regulatory background.

Duration

Approximately 3 hours of instructional content across six chapters, plus graded knowledge checks after each chapter and a comprehensive final assessment.

Grading and Certificate

This course uses a weighted grading model:

• Knowledge Checks (30%): Six graded knowledge checks — one at the end of each chapter. Each check allows 2 attempts. Answers are shown after completion.
• Final Assessment (70%): A comprehensive final exam covering all six chapters. One attempt only. Answers shown after the due date.
• Passing Grade: 70%

Employees who achieve a passing grade will receive the Certificate in Anti-Money Laundering Compliance (FIN201), issued by Binarium Corp. The certificate is available for download and can be shared via LinkedIn upon course completion. This certificate may satisfy annual AML training requirements for FINTRAC Reporting Entities.

Recommended Next Courses

• FIN202 — Financial Fraud Prevention (fraud schemes, internal controls, Canadian Criminal Code)
• KYC101 — Know Your Customer: Customer Due Diligence in Practice (advanced CDD/EDD procedures)
• CYB101 — Cybersecurity Fundamentals (phishing, ransomware, and digital security for financial staff)

Binarium Corp | Managed IT & Cybersecurity Services | Canada
Helpdesk: 1-855-274-6899 | compliance@binarium.ca | training@binarium.ca