FINTRAC reporting software
FINTRAC reporting software for currency exchange and money transfer businesses
KeenXchange prepares your Large Cash Transaction Reports (LCTR), Electronic Funds Transfer Reports (EFTR) and business relationship records from the transactions your team already enters at the counter. Export them as PDF or CSV and keep track of every submission.
Reports ready today
- Large Cash Transaction Reports (LCTR)
- Electronic Funds Transfer Reports (EFTR)
- Business relationship records
- PDF and CSV export
- Submission tracking
What FINTRAC expects
A Large Cash Transaction Report is required when you receive $10,000 or more in cash in a single transaction. It is also required when you receive two or more cash amounts totalling $10,000 or more within 24 consecutive hours and you know they come from, or are made on behalf of, the same person or entity, or are for the same beneficiary (the 24-hour rule). The report is due within 15 calendar days.
When you send or finally receive an international electronic funds transfer of $10,000 or more, alone or under the 24-hour rule, you must submit an Electronic Funds Transfer Report within 5 business days.
KeenXchange prepares these reports from your transactions. Your compliance officer reviews them and remains responsible for submitting them.
Risk flags raised automatically
As transactions are entered, KeenXchange flags the situations your compliance program has to watch:
- High-risk countries
- Large cash patterns
- Business relationships
Records and controls
- ID copies stored on each customer file
- Admin-only edits, with revert possible for 30 days
- Audit trail on every change
- Role-based access for every employee
- Data isolated per business
Coming soon: automatic FINTRAC filing
Direct filing to FINTRAC from KeenXchange is coming soon. Until then, you export the prepared reports, submit them through FINTRAC's reporting channels and record the submission in KeenXchange.
FINTRAC reporting questions
Which FINTRAC reports does KeenXchange prepare?
Large Cash Transaction Reports (LCTR), Electronic Funds Transfer Reports (EFTR) and business relationship records, prepared from the transactions recorded at your counter and exportable as PDF or CSV.
Does KeenXchange submit reports to FINTRAC for me?
Not yet. Automatic filing is coming soon. Today you export the prepared reports, submit them through FINTRAC's reporting channels and track each submission in KeenXchange.
Am I still responsible for my FINTRAC reports if I use software?
Yes. FINTRAC states that a reporting entity stays legally responsible for its reports even when a service provider helps. KeenXchange handles preparation and record-keeping; your compliance officer reviews and submits.
How much does KeenXchange cost?
$150 CAD per month, plus taxes, with same-day support. FINTRAC reporting is part of the system.
See your FINTRAC reports in a 15-minute walkthrough
We'll show you how a transaction at the counter becomes a report ready to export, and answer your compliance questions.