Why your Realtor needs your ID—and how your information is protected.
What is FINTRAC?
FINTRAC stands for the Financial Transactions and Reports Analysis Centre of Canada. It’s a federal agency that helps detect and prevent money laundering, terrorist financing, and other financial crimes. FINTRAC keeps Canada’s financial systems—and real estate markets—safe and transparent.
Why Does My Realtor Need My Information?
When buying or selling a home in Alberta, your Realtor is required by law to collect and verify your identity. This is part of Canada’s anti-money laundering rules and helps ensure all transactions are legitimate and traceable. It protects buyers, sellers, and the integrity of the system.
What Information Will Be Collected?
To meet legal requirements, your Realtor will ask for:
- Full legal name
- Date of birth
- Occupation or job title
- Government-issued photo ID (e.g., driver’s license, passport, or permanent resident card)
- A copy of your ID may also be securely stored, as required by law
What Happens to My Information?
- Your personal details are securely stored by the real estate brokerage
- Information may be submitted to FINTRAC if the transaction appears suspicious
- Your data is never used for marketing or shared beyond what the law requires
- Realtors follow Canadian privacy laws to protect your information at every step
What About the Money Involved?
Receipt of Funds Reporting is also part of FINTRAC compliance. If you’re providing money for a transaction (e.g., deposit or down payment), your Realtor must record how those funds are received—like via bank draft or wire transfer. This ensures the money used is traceable and legal.
For sellers, proceeds from the sale are sent to your lawyer in trust, who then disburses the funds appropriately. These transfers are also tracked to maintain full transparency.
Do I Have to Provide This Information?
Yes. It’s a legal requirement in Canada for all real estate transactions. Your Realtor cannot proceed with your deal without collecting and verifying this information.
What if a Realtor Doesn’t Comply?
Real estate professionals who don’t follow FINTRAC rules may face:
- Large fines
- Legal penalties or criminal charges
- Loss of their license
Is My Information Safe?
Yes. Your Realtor is legally and ethically obligated to keep your information confidential and secure. It will only be used to comply with FINTRAC and will not be shared unnecessarily.
How Is My Information Collected?
We use ReallyTrusted, a secure, Canadian-made platform that is fully FINTRAC-compliant.
- Bank-grade encryption protects your ID and personal data
- Easy to complete from your phone or computer
- Fully paperless—just upload and verify digitally
ReallyTrusted ensures the process is simple, secure, and compliant.
Questions?
Ask your Realtor if you want more details about how your information is used or protected. We’re here to help every step of the way.
This handout is provided for general information purposes only. For legal or compliance-specific concerns, please consult your Realtor or legal representative.