Anti-Money Laundering Compliance

1. Our Obligations

August Real Estate Group, operating under Oakwyn Realty Ltd., is a reporting entity under Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). As licensed real estate professionals in British Columbia, we are required to comply with the regulations administered by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

These obligations are designed to protect the integrity of Canada's real estate market and to detect and deter money laundering and terrorist financing activities.

2. Client Identification

We are required by law to verify the identity of every client before or during the course of a real estate transaction. This applies to both buyers and sellers. To fulfill this obligation, we will request the following:

• Valid government-issued photo identification (e.g., driver's licence, passport)
• Full legal name, date of birth, and current address
• Occupation and name of employer (or nature of business if self-employed)
• For corporations or other entities: articles of incorporation, directors, and beneficial ownership information

We must verify your identity using an original, valid, and current government-issued photo identification document. We are unable to proceed with a transaction until identity verification is complete.

3. Beneficial Ownership

When a client is acting on behalf of a third party, or when a transaction involves a corporation, trust, or other entity, we are required to determine and verify the identity of all beneficial owners — that is, any individual who directly or indirectly owns or controls 25% or more of the entity, or who exercises significant control over the entity.

4. Source of Funds

We are required to inquire about and document the source of funds being used in a real estate transaction. This includes understanding where the money is coming from (e.g., savings, mortgage financing, sale of another property, gift, inheritance, investment proceeds) and keeping a record of this information.

5. Record Keeping

FINTRAC requires us to maintain detailed records of all client identification, transaction receipts, and related documentation. These records must be kept for a minimum of five (5) years following the completion of a transaction. Records are stored securely and access is restricted to authorized personnel and regulatory authorities.

6. Reporting Obligations

As a reporting entity, we are required to file certain reports with FINTRAC, including:

• Suspicious Transaction Reports (STRs) — when there are reasonable grounds to suspect that a transaction is related to money laundering or terrorist financing
• Terrorist Property Reports — when we know or believe that property is owned or controlled by a listed terrorist entity
• Large Cash Transaction Reports — for any cash transaction of $10,000 or more

These reports are filed directly with FINTRAC. We are prohibited by law from disclosing to any person that a suspicious transaction report has been filed.

7. Compliance Program

Our brokerage maintains a comprehensive compliance program that includes:

• A designated Compliance Officer responsible for program oversight
• Written compliance policies and procedures
• Ongoing training for all licensed team members
• A risk assessment framework reviewed and updated regularly
• An independent review of the compliance program at least every two years

8. Politically Exposed Persons

We are required to determine whether a client is a Politically Exposed Person (PEP), a head of an international organization (HIO), or a family member or close associate of such a person. Additional due diligence measures apply when dealing with PEPs and HIOs, including senior management approval and enhanced monitoring.

9. What This Means for You

As a client, you may be asked to provide identification documents and answer questions about the source of your funds. These requirements are not optional — they are mandated by federal law and apply to all real estate transactions in Canada. We appreciate your understanding and cooperation in helping us meet these important obligations.

10. More Information

For more information about FINTRAC and anti-money laundering requirements in Canadian real estate, please visit:

11. Contact

If you have questions about our anti-money laundering compliance program, please contact us: