Preventing money laundering and real estate fraud

Licensees must not participate in any act or practice in real estate matters that may be illegal or that may harm the public or the profession. They must also ascertain the legal capacity of the party they represent by checking his or her identity.

Why a guideline?

This is an interpretation of the Act, a reference tool on which your decisions can be based, especially in terms of compliance. This guideline simplifies the applicable legislative and regulatory framework of real estate brokerage. It clarifies the OACIQ’s expectations and sets out proper practices to ensure licensee compliance. It helps agency executive officers and real estate agencies to develop a comprehensive and effective compliance program.

In addition, this guideline also presents the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) guidelines to help you identify and report suspicious financial transactions in real estate.

Money laundering reporting form

If you believe you have witnessed an attempt of money laundering or recycling of proceeds of crime involving a real estate broker or agency, the OACIQ provides you with a form so you can report it to us.

Warning: Several hyperlinks in this section lead to an external site. If you experience a problem with any of them, feel free to email us at info@oaciq.com.