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Address #1

Please provide the address of your work location.

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Address #2

Please provide your departmental address, if different from the above.

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Approval #1

Your immediate supervisor

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Approval #2

Your Senior Manager with a budget or financial authority.

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Approval #3

Your VP or CEO -- for exceptions

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Beneficiary

A person or a corporation to receive the money.

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Business Contacts

Provide a list of business contacts to followup, including their name, title, organizational affiliation, Web, email, fax, phone, address, business description and required actions

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Business User Identifier Number (BUIN)

An individual number for each registered user.

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Contact Person

This is a person to contact if you are unaccessible for an extended time period or your email bounces.

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Corporate Business Name

Name under which your organization normally carries on business (if different from the legal identity stated above)

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Corporate Code

A code that uniquely identifies your organization.

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Corporate Legal Name

Full and complete legal identity of the applicant as it appears on the Articles of Incorporation, partnership agreement, or other legal documents.

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Cross-Border Financial Transactions

The Proceeds of Crime (Money Laundering) Act (PCMLA) requires persons and entities subject to the Act to declare to Canada Customs and Revenue Agency the import or export of currency or monetary instruments of a value greater than the prescribed amount of $10,000 or more (CCRA in turn is required to report these declarations to FINTRAC).

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Delivery Options

Several delivery options are available, in case the same exchange transaction should cover delivery of funds to several beneficiaries.

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Designated Responsible Officer

Designated Responsible Officer is a Corporate Officer (typically CEO, President, CFO, Chief Legal Oficer or a Vice President) who has a right to sign the Crescent Membership Agreement Request on behalf of your organization.

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Distribution
  • Place one email address per line.
  • Place the name first followed by the email address in <angle brackets>, i.e.: Jane Doe <jdoe@ARRAYdev.com>
  • Or place the email address with or without brackets, i.e.: myemail@ARRAYdev.com
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Electronic Funds Transfer

Electronic Funds Transfer from your account at another bank to your BCX account requires a signed "Drawdown Agreement".

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Employee FINTRAC Compliance Training Program

FINTRAC Regulations encourage as the key step for an effective system of internal controls implementing an ongoing employee FINTRAC compliance training program. All employees, including senior management, who have contact with customers, who see customer transaction activity, or who handle cash in any way should receive training. The training should also include employees who have responsibilities under the compliance regime such as information technology and other staff responsible for designing and implementing electronic or manual internal controls, the appointed officer and internal or external auditors. New employees should be trained before they begin to deal with customers. Employees who change jobs within the organization should be provided with training, to be up-to-date with the policies, procedures and risks of exposure to money laundering that are associated with their new job. Employees should be periodically informed of any changes in anti-money-laundering legislation, policies and procedures as well as current developments and changes in money laundering schemes particular to their jobs. Although directors and senior officers may not be involved in day-to-day compliance, it is important that they understand the statutory duties placed upon them, their staff and the entity itself.

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eXchange Transaction Authorization Number (XTAN)

The eXchange Transaction Authorization Number (XTAN). All financial matters relating to the exchange transaction are linked through its XTAN.

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Exchange Transaction Locator

An Exchange Transaction Locator is a special code you get from BCX to confirm your currency exchange transaction. Enter it here for all of your transactions, for convenient storage.

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FINTRAC Compliance Policies and Procedures

FINTRAC Regulations encourage as the key step for an effective system of internal controls the development and application of FINTRAC compliance policies and procedures. A sound compliance regime is based on the commitment by the board of directors and senior management to institute effective policies and procedures to prevent, detect and address non-compliance. Policies and procedures should incorporate the legislative and regulatory requirements and provide personnel with information on how to properly process and complete a transaction, a clear definition of roles and responsibilities and the supporting processes required. In general, policies and procedures should cover the following elements: identifying reportable transactions, completing and filing reports, exceptions, record keeping, and ascertaining identity.

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FINTRAC Entity

The following persons and entities will have to report suspicious and certain other transactions to FINTRAC:

  • financial entities (such as banks, credit unions, caisses populaires, trust and loan companies and agents of the Crown that accept deposit liabilities);

  • life insurance companies, brokers and agents;

  • securities dealers, including portfolio managers and investment counsellors;

  • persons engaged in the business of foreign exchange dealing;

  • money services businesses (including Canada Post for money orders);

  • legal counsel (when carrying out certain activities on behalf of their clients);

  • accountants (when carrying out certain activities on behalf of their clients);

  • real estate brokers or sales representatives (when carrying out certain activities on behalf of their clients);

  • certain casinos; and

  • employees of such persons or entities.

In addition, anybody, including law enforcement agencies, can voluntarily report information about suspicions of money laundering.

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FINTRAC Reporting Requirements

The Financial Transaction and Reports Analysis Centre of Canada (FINTRAC) is a federal government agency engaged in deterring and detecting money laundering. All Canadian deposit taking institutions such as banks, trust companies and credit unions, as well as life insurance companies, securities dealers, casinos, foreign exchange dealers, legal counsels, accountants, real estate brokers and others are subject to the Proceeds of Crime (Money Laundering) Act and Regulations, as well as Guidelines on compliance with the legislation. Failure to report a suspicious transaction could lead to up to five years imprisonment and/or a fine of $2,000,000; failure to report large cash transaction to a fine of up to $500,000 for first offence and $1,000,000 for subsequent offences; failure to retain records to 5 years imprisonment and/or a fine of up to $500,000. There is no minimum threshold amount for reporting a suspicious transaction. However, subsection 75(2) of the Act states that "no employee of a person or an entity shall be convicted of an offence under subsection (1) in respect of a transaction that they reported to their superior." Thus, all Canadian employees who use Crescent services to report suspicious transactions to their superior cannot be held criminally liable for failing to report the suspicious transactions to FINTRAC. Since most of the countries in the world are adopting similar legislation, non-Canadian corporations and employees might use FINTRAC-compatible features of Crescent services to their advantage.

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Fintrac.RS User Identifier Number (FUIN)

An individual number for each registered user.

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Forgot Your UserID or Password?

If you have forgotten your UserID or Password, please send an email to the Crescent Administrator stating your name, corporation and department and other relevant information about your account. For instance, include your Secret Word Type and your Secret Word if you can remember it. Also include what you would like you new UserID and/or password to be.

After validating your claim, the Crescent Administrator will email you back your new UserID and password. To satisfy security requirements, we will also notify your manager that the request to obtain a new password has been made.

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Forward Contract Type

Crescent offers two types of Foreign Currency Forwards: Closed and Open.

   1) Closed Forwards specify an exact settlement date
   2) Open Forwards provide for a window of time for settlement.

Any part of an Open Forward may be settled at any time within the window, but the whole amount must be settled by the window's end date.

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How to Identify a Suspicious Transaction

According to Guideline 2: Suspicious Transactions, a suspicious transaction may involve several factors that may seem insignificant when taken individually, but when taken together may raise suspicion that the transaction is related to the commission of a money laundering offence. As a general guide, when a reporting person or entity, or an employee, believes that a transaction or group of transactions, or the nature of the people involved, raises questions about the appropriateness or intent of the transaction(s) or gives rise to discomfort, apprehension or mistrust about the transaction(s) or the people involved, the transaction(s) may be connected to money laundering.

An assessment of suspicion should be based on a reasonable evaluation of relevant factors, including the knowledge of the customer's business, financial history, background and behaviour. Further, transactions may be suspicious regardless of the sum of money involved; there is no monetary threshold for making a report on a suspicious transaction.

It is important to remember that behaviour is suspicious, not people. It is the consideration of many factors, not any one factor that will lead to a conclusion that there are reasonable grounds to suspect that a transaction is related to the commission of a money laundering offence. All circumstances surrounding a transaction should be reviewed.

Indicators of Suspicious Transactions are also listed in Sections 3-5 of Guideline 2.

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I'm Hereby Reporting to My Superior!

Canadian employees who use Crescent services to report suspicious transactions to their superior cannot be held criminally liable for failing to report the suspicious transactions to FINTRAC.

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I'd rather use...

Please specify a language that you would like this site to be translated into.

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Independent and Impartial Net Security Auditor

An independent and impartial Net Security Auditor is recommended by the U.S. Federal Deposit Insurance Corporation (FDIC) for every institution that conducts financial transactions over the Internet.

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Individual Responsible for Implementing FINTRAC Compliance

FINTRAC Regulations encourage as the key step for an effective system of internal controls that the entity appoints an individual to be responsible for the implementation of the FINTRAC compliance regime. The appointed compliance officer should have the authority and the resources necessary to discharge his or her responsibility effectively. Depending on the type of business, the compliance officer should report to the board of directors or senior management or to the owner or chief operator. In a large business, the compliance officer should not be directly involved in the receipt, transfer and/or payment of funds.

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Make This Record Inactive

You can "delete" users by marking this field as "Yes". As no record is ever deleted from the database, "Yes" really means here that a particular record has been deactivated.

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Night Deposit

The transaction was made after the normal business hours of the person or entity that receives it.

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OFAC Compliance

The Office of Foreign Assets Control ("OFAC", see http://www.ustreas.gov/ofac/) of the U.S. Department of the Treasury administers and enforces economic and trade sanctions against targeted foreign countries, terrorism sponsoring organizations and international narcotics traffickers based on U.S. foreign policy and national security goals. OFAC acts under Presidential wartime and national emergency powers, as well as authority granted by specific legislation, to impose controls on transactions and freeze foreign assets under U.S. jurisdiction. Many of the sanctions are based on United Nations and other international mandates, are multilateral in scope, and involve close cooperation with allied governments. Countries where illicit drug production or exporting may be prevalent, or where there is no effective anti-money-laundering system are also listed on United States and international organizations sites http://www.state.gov/g/inl/rls/nrcrpt/ and www.oecd.org/fatf.

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Original Amount (in words)

For example:
One hundred thousand and sixty three 58/100 [Canadian Dollar]

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Password

Please select a password that is five to eight characters long. For better security, use both letters and digits in your password. Spaces are not permitted in user names or passwords.

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Periodic Audits of FINTRAC Policies and Procedures

FINTRAC Regulations encourage as the key step for an effective system of internal controls a review as often as is necessary of the FINTRAC compliance policies and procedures to test their effectiveness, to be conducted by an internal or external auditor. When feasible, an auditor should be independent of the reporting, record-keeping and compliance-monitoring functions. The review process should be well documented and should identify and note weaknesses in policies and procedures, corrective measures and follow-up actions.

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Person or Entity Identifier Number (PEIN)

A code that uniquely identifies the reporting person or entity creating the report. For example, if you are a life insurance agent, enter your license number. If you have multiple branch or office locations, the information in this part should be about the branch or office location where the transaction took place.

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Posting Date

If different from the transaction date.

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Prescribed Financial Transactions

Under section 9 of the Act, as well as the proposed Regulations, persons and entities are required to report the following prescribed financial transactions:

  • large cash transactions and international electronic funds transfer (EFT) involving amounts of $10,000 or more;
  • sending or receiving of international electronic funds transfers of $10,000 or more;
  • foreign exchange transactions at a rate that exceeds the posted rate, and the payment by an individual of transaction fees that exceed the posted fees; and
  • any casino transaction of $3,000 or more when an individual receives payment in casino cheques made out to third parties or without a specified payee.
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Proof of Good Standing

A copy of your Proof of Good Standing document which confirms that your corporation has the legal right to conduct business in your country/state/province under the name you specify in your enrollment request. I.e., attach Articles of Incorporation (preferred) or Partnership Registration or business name registration (for sole proprietorships) or filing with the local securities commission or business name registration (if applicable) or business licence (if required to carry on business).

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Rate This Resorce

Please rate the importance of our services.

  • Please do not vote for the same resource more than once.
  • The scale is 1 - 5, with 1 being poor and 5 being excellent.
  • Please be fair, if everyone receives a 1 or a 5, the ratings aren't very useful.
  • Do not vote for your own or competitor's resource.
  • Do not vote in the state of anger. Wait for a day and vote then.
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Relationship of Both Individuals

Describe relationship of individual conducting the transaction to the individual on whose behalf the transaction is being conducted.

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Report Delivery Method

Select Report Delivery Method for routine transactions and periodic reporting.

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Report Transaction Authorization Number (RTAN)

The Report Transaction Authorization Number (RTAN). All data matters relating to reporting suspicious and prescribed transactions are linked through its RTAN.

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Reporting Person's Basic Profile

This information is not a part of the Suspicious/Prescribed Transaction Report. It will be kept internally for archiving purposes and in case additional information is required.

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Requested Delivery Date

BCX does not guaranty that it can necessarily finalize transaction before the Requested Delivery Date.

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Required Field

To proceed with a form that has one or more Required Fields you must enter valid responses in all fields marked as Required.

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Resource Ratings

These rating have been assigned by the users of Crescent services. Make yourself heard.

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Source of Funds

Before making an eXchange transaction always ensure that sufficient funds have been deposited to your account at Partner Bank.

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Special Requirements

Write here any individual requests that you might have in relation to this transaction.

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Suspicious Transaction

Provide detailed description of the grounds to suspect that the transaction is related to the commission of a money laundering offence. Subsection 3.1 of Canadian Government's FINTRAC Guideline 2: Suspicious Transactions states that "As a general guide, a transaction may be connected to money laundering when you think that it (or a group of transactions) raises questions or gives rise to discomfort, apprehension or mistrust." For more information, consult FINTRAC Guidelines.

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Target Rate

Please select the rate that would trigger an alarm email to you when reached by the Target Currency. I.e., a target currency is British Pound . GBP and the Target Rate has been selected at 2.06 Canadian Dollar. CAD

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UserID

Please select a UserID that is five to eight characters long, without spaces. Keep it confidential. Spaces are not permitted in user names or passwords.

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US-Presence Corporate Currency Exchange Insurer

A corporate currency exchange insurer can be any insurance corporation from around the world with at least one office in the United States that insures your corporate foreign currency exchange activities.

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US-Presence Independent Financial Auditor

An independent financial auditor can be any financial audit corporation from around the world with at least one office in the United States that audits your corporate finance and foreign currency exchange activities.

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