Does Ottawa Bullion report any information about transactions to any 3rd party or Government Agency?
No. We do not report ANY transaction details to anyone. All transactions are 100% private UNLESS a FINTRAC Reporting Requirement has been triggered.
What are your reporting requirements with FINTRAC?
As per FINTRAC GUIDELINE 7A, SECTION 3.2:
3.2 When does a large cash transaction report have to be made?
We have to send a large cash transaction report to FINTRAC in the following situations:
- If we receive an amount of $10,000 or more in cash in the course of a single transaction. Each such transaction must be sent to FINTRAC separately, in its own report.
- If we receive two or more cash amounts of less than $10,000 each that total $10,000 or more.
Please see the official FINTRAC website here for more details:
http://www.fintrac-canafe.gc.ca/guidance-directives/transaction-operation/Guide7A/lctr-eng.asp#s3-2
