Effective date: 01 October 2025
The Canadian real estate market has been identified as being highly vulnerable to fraud and money laundering. To assist in addressing risks, the federal government has introduced new regulatory requirements for title insurers. Real estate lawyers should be aware of how these changes may affect their practice and their purchaser clients. You may need to make changes to your policies, procedures and retainer letters.
On October 1, 2025, title insurers will be regulated by the Financial Transactions and Reports Analysis Centre (FINTRAC), which generates intelligence for Canada’s law enforcement and national security agencies. Title insurers will become a reporting entity, with obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated regulations.
These obligations include that title insurers must report certain suspicious transactions to FINTRAC without informing you or their insureds. See “reporting entities” to learn about the individuals and businesses that report to FINTRAC and sector specific guidance for reporting entities. FINTRAC’s specific guidance for title insurers will be released before October 1, 2025.
To learn more about Canada’s regulatory changes, including title insurers being brought into the FINTRAC regime, see
- FINTRAC’s act and regulations web page
- Regulations Amending Certain Regulations Made Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act: SOR/2024-266
- Canada Gazette, Part 2, Volume 159, Number 1: Regulations Amending Certain Regulations Made Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act
If you have questions, contact Barbara Buchanan, KC at the Law Society at 604.697.5816 or bbuchanan@lsbc.org