To help brokers and brokerage owners maintain an accurate and auditable compliance trail for FINTRAC, Finmo has introduced "risk rating" functionality within each deal. This allows brokers to complete and record fraud and risk assessments in a standardized, reportable format. A column labeled “FINTRAC Risk Level” now appears on your deal dashboard where you can see risk levels at a glance across all deals and even filter your deals by risk rating. The risk level rating will also appear PDF once generated in the "Fraud & risk assessment? section.
For Brokerages Using Finmo
If your brokerage uses Finmo for payroll compliance, this Risk Assessment Report is automatically attached to any deal sent for compliance review, saving you time and ensuring consistency.
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How to add Fintrac risk ratings within a deal
1. Go into any deal in Finmo.
Select "Fraud & risk assessment' from the left menu and scroll down to the "FINTRAC risk level"section.
2. Complete the Risk Checklist: by filling in responses to the following:
Is this a suspicious transaction? (Yes/No)
Does it involve terrorist property?
Is it a large cash transaction?
Is it a virtual currency transaction?
Is the subject property in a high-risk neighborhood?
Has it been flagged/reported?
What is the overall risk rating? (Low / Medium / High)
Add your notes explaining how you determined this risk level.
3. Click Save to store this data within the deal record.
How to filter on "Fintrac risk level"
1. A new column labeled “FINTRAC Risk Level” will appear in your deal dashboard
2. Click on "Filter" and select "Fintrac risk level" and the rating you wish to filter by
How to generate the "Risk Assessment Report"
After completing the fraud and risk fields:
1. Scroll down to "Generate report"
2. Click on the button to Generate or Regenerate the Fraud and Risk Assessment Report
The Fraud & Risk Assessment Report will be available as a PDF download.
Note: You can also generate this report in the "Compliance" section under "Generate documents".
Additional resources
Should you have any questions please click on the chat bubble in Finmo :)