Regulatory

Currency exchange as a Money Service Business

You are a money services business (MSB) if all of the following criteria apply: A company engaged in foreign exchange dealing which conducts transactions where you exchange one type of currency for another (for example, exchanging USD for CAD) is fulfilling the first criteria . However, purchases made with foreign Read more…

By admin, 4 yearsSeptember 16, 2022 ago

Regulatory

Summary of requirements for money services businesses

Money services businesses (MSBs) must fulfill specific obligations as required by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated Regulations, to help combat money laundering and terrorist activity financing in Canada. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is Canada’s financial intelligence Read more…

By admin, 4 yearsSeptember 13, 2022 ago