FAQs

Frequently Asked Questions for Agents using the Iluminai platform.

Why should I use Iluminai?

Iluminai simplifies FINTRAC compliance, benefiting the brokerage, agents and their clientele by providing a secure, streamlined, and centralized platform for compliance processes.

Benefits

• Easily complete and submit FINTRAC forms online or via a mobile device.
• Access and download submitted FINTRAC forms as a PDF directly from your agent dashboard.
• Ensure form accuracy the first time, significantly reducing the need to follow up with clients for additional information.
• Benefit from automated Anti-Money Laundering (AML) screenings and detailed risk assessments of clients who may be:
  • Politically Exposed Persons (PEPs)
  • Heads of International Organizations (HIOs)
  • Individuals from High-Risk Countries
  • Individuals under Ministerial Directives
  • Subjects identified via adverse social media coverage
• Permanently store and easily retrieve your FINTRAC ID and Receipt of Funds documents securely on the platform.
• Experience a secure verification process without storing photo IDs, adhering strictly to PIPEDA privacy standards.
• Enjoy faster transaction processes and fewer requests for additional documentation, creating a smoother overall experience.

Which forms do I have access to on Iluminai?

The Iluminai platform currently supports the following forms:

• FINTRAC Forms
  • For an Individual/Person
  • For a Corporation/Organization
• Post-Transaction Forms
  • Recieipt of Funds (ROF)

• Pre-Transaction - BC (British Columbia) Specific Forms:
  • BCREA Privacy Notice and Consent
  • BCFSA Disclosure of Representation in Trading Services
  • BCFSA Disclosure of Risks to Unrepresented Parties

Can I correct or edit a FINTRAC form after submission if I made a mistake?

Yes! If the Corrections feature has been enabled by your brokerage administrator, you can correct or edit a FINTRAC form even after submission or approval.

How do I change my email address?

You cannot directly update your email address within the platform. To change your email address, please contact your brokerage administrator, who can update it on your behalf.

Is there training available for Iluminai?

Yes! If you have any questions or would like a personalized walkthrough of the platform, please reach out to us at support@ilumin.ai to schedule a demo.

What is a Backoffice User?

Backoffice User is a term created by Iluminai referring to brokerage administrators who manage the backend operations of your brokerage's account. They can configure account settings and are generally responsible for reviewing and approving submitted forms by the agents.

How do I download the FINTRAC PDF?

After a form has been approved by a brokerage administrator (Backoffice user), you wlll receive an email notification with the completed form attached.

Be sure to follow your brokerage's policies and procedures as to what you should with that documentation.

What does my client need to do to identify themselves?

They will receive a notification and will be asked to provide a valid government issued photo ID and perform a selfie or liveliness check.

How long is the identity verification link valid for before it expires?

The verification link sent to your clients is valid for 48 hours, after which it expires. If expired, you will need to resend the verification link to your client.

How long does the identity verification process typically take?

There are two automated identity verification methods:

• Person Present: Used when the client is physically present with you, taking appoximately 1-2 minutes.
• Person Not Present: Used for remote verification (when your client is not physically present with you), where your client receives a verification link via email. The completion time depends on your client's responsiveness, but the verification results become immediately available upon completion.

Can I still use the platform if my client refuses to be digitally ID'd?

Yes! Although highly recommended, if your client prefers not to undergo digital ID verification, you can use the Manual Method. This approach does not involve our automated ID verification solution. Instead, you'll need to manually enter client information and verify their identity using either the Dual Process or Credit File method.