Why Choose Trulioo?
Fast-Track Business Verification
Quickly verify entities with automated searches for business numbers, names and addresses. Trulioo cross-references the information against current databases to deliver a clear, accurate business profile in seconds.
Simplify UBO Checks
Verify businesses and their UBOs in a single, automated workflow. The Trulioo modular platform paves the way for streamlined verification while helping organizations meet FINTRAC requirements.
Stay Ahead With Perpetual Verification
Maintain FINTRAC compliance with perpetual business and UBO verification that provides real-time insights. Continually assess changes in ownership and business profiles to maintain a clear, up-to-date view of each entity’s risk profile.
Verify Businesses in Canada with Confidence
Trulioo connects directly to the federal and all 10 provincial registries, providing authoritative, up-to-date information – including standardized BN9s and BN15s – about any business entity. Smart tiering and routing ensure registry queries are based on jurisdiction and entity type to maximize verification rates.
Streamline Reverification for FINTRAC Compliance
Trulioo enables batch reverification at scale, supporting tens of thousands of transactions per project, so organizations can achieve FINTRAC compliance with minimal customer disruption. The batch workflows flag records that lack the required business or UBO details and surface registry documents for audit readiness.
Demonstrate FINTRAC Compliance and Audit Readiness
Trulioo provides structured, auditable business verification outputs to ensure organizations can demonstrate FINTRAC compliance. Verification results include registry-confirmed business details, beneficial ownership structures and records for controlling parties, enabling a confident response to regulatory inquiries.
Trulioo’s robust ID verification solution is a valuable tool in our KYB and KYC process when onboarding customers. We leverage Trulioo’s services to ensure the authenticity of our customers’ government-issued IDs, safeguarding our operations and maintaining trust in our services – all within a secure, compliant and convenient digital experience. Trulioo’s seamless verification capabilities help us meet our FINTRAC obligations while also meaningfully enhancing the customer experience, making onboarding a smooth and efficient gateway to better banking.”
Natasha Lala, Chief Product Officer, EQ Bank
Level Up Your FINTRAC Compliance Performance
Learn moreMeet FINTRAC Regulations With Complete Business Profiles
Confirm Legal Existence
Real-time business verification confirms in seconds the legal name, registration number, incorporation date, current status and available officer or director information. Trulioo accesses reliable, independent registries to help enterprises meet FINTRAC’s “confirmation of existence” requirement.
Limit Manual Remediation
With 90% of its remediation process automated, Trulioo dramatically reduces the need for manual outreach or document collection. Trulioo outputs help compliance teams meet FINTRAC’s “reasonable measures” standard for verifying beneficial ownership, including fallback procedures when there isn’t an owner with more than 25% control.
Meet FINTRAC Recordkeeping Requirements
Trulioo helps enterprises meet FINTRAC recordkeeping requirements by capturing the registration number, verification date, record type, supporting documents and the registry, such as Corporations Canada. Every verification includes structured reports with verified data points and time stamps to support audit traceability.
Frequently Asked Questions
Learn more about key FINTRAC terms and concepts.
The Financial Transactions and Reports Analysis Centre of Canada is the country’s financial intelligence unit and anti-money laundering and anti-terrorist financing supervisor.
The PCMLTFA is a Canadian law that combats money laundering and terrorist financing. The act also established FINTRAC.
An ultimate beneficial owner in Canada either individually or jointly owns, controls or directs at least 25% of the shares in a corporation. Corporations governed by the Canada Business Corporations Act must file beneficial ownership information with Corporations Canada.
All businesses defined as reporting entities are required to comply with FINTRAC requirements. That includes financial institutions, money services businesses, credit unions, accounting firms, securities dealers and agents of the Crown that sell money orders.
Reporting entities must maintain records so they can be provided to FINTRAC within 30 days of a request. Those include applications; records for accountholders and people authorized to give instructions; and suspicious transaction, large cash transaction and electronic funds transfer reports.
Navigate the Complexities of FINTRAC Compliance
Talk to one of our business and UBO verification experts to learn how Trulioo cutting-edge technology can help your enterprise meet its regulatory requirements.
Book a demo