Suspicious Transaction Reporting (STR): Canada

This course is part of Anti Money Laundering: Canada Specialization

Instructors: SkillUp

What you'll learn

Define suspicious and attempted transactions under Canadian AML/ATF regulations and explain reporting obligations to FINTRAC
Apply the Reasonable Grounds to Suspect (RGS) threshold using facts, context, and ML/TF indicators
Identify red flags and suspicious patterns across transaction monitoring systems and customer behaviors
Demonstrate compliant STR documentation, reporting procedures, and record-keeping while avoiding tipping off

Details to know

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Assessments

7 assignments

Taught in English

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This course is part of the Anti Money Laundering: Canada Specialization

When you enroll in this course, you'll also be enrolled in this Specialization.

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There are 3 modules in this course

Master Suspicious Transaction Reporting in Canada with this compliance-focused course fully aligned with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and Financial Transactions and Reports Analysis Centre of Canada guidelines. Built for financial institutions, money services businesses, and anti-money laundering professionals, you'll learn to identify suspicious transactions, apply the Reasonable Grounds to Suspect threshold with confidence, and report accurately while avoiding client tipping-off risks.

Through real-world case studies, red flag analysis, and interactive activities, you'll sharpen your ability to detect money laundering and terrorist financing indicators, adopt a risk-based monitoring approach, and make defensible, well-documented reporting decisions that withstand regulatory scrutiny. Every module mirrors real compliance challenges, covering record-keeping obligations, evidentiary standards, and strategies to strengthen your institution's anti-money laundering framework while minimizing enforcement exposure. Whether you're building your compliance foundation or elevating an existing program, this course delivers clear, actionable guidance that drives better outcomes for your team and institution. Enroll today to build regulatory confidence and ensure your organization meets its reporting obligations with accuracy and conviction.

This module introduces the foundations of Suspicious Transaction Reporting within the Canadian regulatory framework. You will explore the purpose of STRs, the legal obligations under PCMLTFA, and the importance of timely and accurate reporting to FINTRAC. The module also clarifies what constitutes a suspicious or attempted transaction and introduces the critical Reasonable Grounds to Suspect (RGS) threshold. By building a strong conceptual base, this module prepares you to evaluate transactions with clarity and compliance awareness.

What's included

1 video4 readings3 assignments6 plugins

1 videoTotal 3 minutes

What Is a Suspicious Transaction3 minutes

4 readingsTotal 8 minutes

Course Overview2 minutes
Facts, Context, and Indicators: Understanding the Difference2 minutes
Examples of Suspicion Triggers2 minutes
Key Takeaways: Foundations of Suspicious Transaction Reporting2 minutes

3 assignmentsTotal 24 minutes

Practice Quiz: Defining Suspicious Transactions6 minutes
Practice Quiz: Understanding Suspicious Activity Thresholds and Monitoring6 minutes
Graded Quiz: Foundations of Suspicious Transaction Reporting12 minutes

6 pluginsTotal 30 minutes

Practice Quiz: Course Readiness Check5 minutes
Activity: Suspicious or Not5 minutes
Activity: Attempted Transactions versus Inquiry5 minutes
Activity: Suspicious Activity Thresholds5 minutes
Activity: Assess the Activity Level5 minutes
Activity: Identifying Suspicious Transactions: The 3-Tier Monitoring System5 minutes

This module builds practical skills for identifying and reporting suspicious transactions in real-world scenarios. You will analyze suspicion thresholds, recognize red flags across different customer and transaction types, and understand how monitoring systems detect unusual activity. The module also explains STR documentation, record-keeping requirements, and legal consequences of non-compliance. Through integrated case studies and applied exercises, you will strengthen your ability to make accurate, compliant reporting decisions in dynamic financial environments.

What's included

1 video3 readings3 assignments6 plugins

1 videoTotal 2 minutes

Red Flag Categories Overview2 minutes

3 readingsTotal 6 minutes

Warning Signs in Money Services Business (MSB)2 minutes
STR Submission Process, Penalties, and Consequences 2 minutes
Key Takeaways: Identifying, Assessing, and Reporting Suspicious Transactions2 minutes

3 assignmentsTotal 24 minutes

Practice Quiz: Red Flags and Indicators6 minutes
Practice Quiz: Reporting, Record-Keeping, and Compliance Risks6 minutes
Graded Quiz: Identifying, Assessing, and Reporting Suspicious Transactions12 minutes

6 pluginsTotal 30 minutes

Activity: Recognizing Red Flags5 minutes
Activity: Categorize the Red Flags5 minutes
Activity: STR Process Workflow5 minutes
Activity: Put the Workflow in Order5 minutes
Activity: Avoiding Customer Tip-Offs5 minutes
Activity: Case Analysis- What Went Wrong 5 minutes

This final module consolidates your understanding of suspicious transaction reporting and reinforces key compliance principles. You will revisit essential concepts such as RGS, red flag identification, reporting obligations, and legal restrictions like tipping off. The module provides final resources and a structured review before assessing your ability to apply STR knowledge in realistic scenarios, ensuring readiness for compliance responsibilities in regulated environments.