Podcast: Money laundering and terrorist financing with Bryan Statt

Podcast: Bryan Statt of the Alberta Real Estate Association with host Gerald Tostowaryk

Bryan Statt from the Alberta Real Estate Association sits in with host Gerald Tostowaryk to discuss money laundering and terrorist financing, and federal FINTRAC obligations which are involved in the commercial real estate world.

They discuss the world of international crime, how it finances its operations, and how the world’s governments are working together to fight back.

The discussion includes an overview of what kind of information real estate clients must provide, and what practitioners must collect, as well as how that information is handled.

Chapter markers for the subjects discussed:

0:53 – Guest introduction.
2:29 – Detailed topic introduction.
5:40 – History of FINTRAC
.
9:42 – Which industries must comply with FINTRAC legislation?
12:44 – Top-5 money-laundering scandals of all time.
20:50 – Money laundering In Canada and around the world.
23:09 – Is money laundering more prevalent in residential or commercial real estate?
28:18 – What are the FINTRAC requirements for consumers and agents?
33:08 – What exactly is the ongoing requirement to monitor clients?
36:21 – New AREA complementary FINTRAC compliance tool for brokerages.
46:56 – What information must an agent ask a consumer for?
51:46 – How is my personal information used?
52:38 – Does FINTRAC collect information in other ways?
54:21 – Has all this information collection made any difference?
58:08 – How can we all help fight these criminal activities?
1:03:09 – Final comments.


Gerald has been a licensed REALTOR since 1990 is currently an associate broker with Century 21 Urban Realty. He holds the Certified Commercial Investment Member (CCIM) designation from the CCIM…

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Gerald has been a licensed REALTOR since 1990 is currently an associate broker with Century 21 Urban Realty. He holds the Certified Commercial Investment Member (CCIM) designation from the CCIM…

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