MSB & Regulated
Money Services Business registration, FINTRAC compliance, and regulated industry guidance.
FINTRAC Issues $264,000 Penalty: Lessons for the Compliance Community
FINTRAC fined Spence Diamonds $264,000 for AML violations including missing STRs, absent compliance policies, and no staff training. Learn the lessons every MSB must take from this enforcement action.
Data Protection and Privacy Compliance: What MSBs Often Miss
MSBs handle sensitive personal and financial data daily. Learn about common privacy oversights, cross-border data obligations under PIPEDA and GDPR, and how to build a compliant data protection program.
The Rising Cost of Non-Compliance: Why MSBs Must Take FINTRAC Enforcement Seriously
FINTRAC has issued over $700,000 in fines to Canadian MSBs for AML violations in 2025. Learn about recent enforcement actions, common compliance failures, and how to protect your business.
FINTRAC's New Rules for MSBs Using Agents or Mandataries: What You Need to Know
Learn about FINTRAC's new compliance requirements for Canadian MSBs using agents or mandataries. Criminal record checks, verification timelines, and record-keeping rules explained.
Beyond Registration: What Many MSBs and Corporations Overlook About Ongoing Compliance
Registration is just the beginning. Canadian corporations and MSBs must meet annual returns, tax filings, FINTRAC renewals, and Bank of Canada reporting. Learn what you're missing.
FINTRAC Compliance: Understanding Ministerial Directives and Applicable Countries
Canadian MSBs must have written policies addressing Ministerial Directives for Russia, Iran, and North Korea. Learn what FINTRAC requires and how to stay compliant.
New FINTRAC Compliance Rule: Reporting Listed Person or Entity Property
Starting in 2025, Canadian MSBs must report property held or controlled by listed persons or entities under new FINTRAC rules. Learn about deadlines, requirements, and compliance.
7 MSB Registration Myths That Are Costing You Time and Money
The internet is full of outdated information about MSB registration in Canada. These myths are causing real problems — wasting months and thousands of dollars.