If not, your brokerage could face FINTRAC fines of up to $250,000. With FINTRAC audits expected every two years, it’s only a matter of time until an auditor expects a YES to each of the above questions.
View an automated activity log for every client that you can then chose to share with a FINTRAC auditor.
Buyer and seller profiles are continually evaluated against Sanctions lists, PEPs, national & international enforcement bodies.
Summarize your overall risk and understand the risk that each agent is bringing to your business.
After setting your brokerage’s risk tolerance, buyers and sellers are evaluated every night and assigned a risk score.
With a few simple clicks, import data from LoneWolf CRM into the Iluminai platform.
Sleep well knowing Iluminai will automatically notify you about any changes in risk.
Early results suggest Iluminai saves 2 to 5 hours per week in compliance-related administration.
At approximately 1/10th the cost of a full-time compliance hire, Iluminai is priced to fit the budget of small businesses.
The Iluminai dashboard summarizes the FINTRAC risk facing your business.
You can then drill down, make an informed decision and then take action
before trouble boils over.
With brokerages getting fined by FINTRAC at an increasing rate and audits expected every 2 years, brokerages without an effective compliance plan are one bad client away from serious consequences.
Unlike form-based solutions that only provide templates or check static lists, Iluminai gives you continuous, data-driven insight about your brokerage’s clients.
Unlike a full-time compliance hire, Iluminai uses AI, dynamic data sets and human-augmented intelligence to streamline your compliance obligations at 1/10th the cost.